
CEO Lee Amaitis (center) recently started the Cantor Gaming Atlantis sports book; some say he is under federal scrutiny now
Perhaps Not a goes by in the gaming universe without someone in a position of power somewhere being scrutinized by the feds anymore, it seems day. Now Cantor Gaming CEO Lee Amaitis is under the spotlight, according to the The Wall Street Journal, on the coat tail of colleague Michael Colbert Cantor’s now released vice president of risk management who pled guilty just last month to knowingly accepting unlawful wagers.
Denial from the Top
Parent company Cantor Fitzgerald was quick to deny the rumor, however, saying in an issued statement: ‘We feel compelled to address this reckless and baseless rumor. The notion that Lee Amaitis is a target of federal prosecutors or which he participated in illegal bookmaking is false and baseless.’
Of program, Anthony Weiner also vehemently denied he was still sexting, therefore there you go in terms of denials of rumors.
Accepting wagers from ‘runners’ people who spot bets for an operation is illegal in Nevada, where Cantor Gaming is headquartered.
It might undoubtedly behoove the sports book company to distance themselves from any further insinuations of illegalities, given that Amaitis just attended opening ceremonies for a brand new Cantor Gaming competition and sports books at the Atlantis Casino on Paradise Island into the Bahamas. The company now has eight sports publications in Las Vegas, runs the Palms Casino poker space, and provides mobile betting apps, combined with Atlantis that is new book which is their first run outside of Nevada.
No Allegations Officially Made
Cantor Fitzgerald was quick to point out that no actual allegations of any wrongdoing by Amaitis have been made by authorities. Yet.
33-year-old former vice-president Colbert has already entered his guilty plea to a solitary felony cost of conspiracy in a ny federal courthouse (bet we can guess which one). In accordance with documents, he will receive sentencing Dec. 9, joining so numerous others who are having an enjoyable visit to the joint from the world that is wonderful of.
Colbert had been found in a joint arrest couple of years ago, along with 24 others, when he had been caught red-handed for their participation with an illegal recreations betting ring in Queens, NY. He originally was searching at eights counts of conspiracy, money and corruption laundering, but the Queens case ended up being dismissed while the matter of his moving $100K in gambling profits from vegas to New York was forwarded to the U.S. Attorney’s docket.
Even though ex-veep’s attorney of record refused to comment, The Wall Street Journal reports that Colbert is ‘cooperating’ in the Cantor Gaming matter; might that mean performing like a bird so he can fly free in December? Time will tell.
To his credit Amaitis did apparently aid in the rebuilding of parent company Cantor Fitzgerald after the September 11th attacks on the World Trade Center, when the company lost about 2/3rds of their workers. Amaitis was at London at the right time, heading up the business’s international dealings.
Wynn Eyes Philadelphia for Next Casino Resort Project
Wynn Resorts is one of six casino companies pitching to enter the Philadelphia gaming market
The casino legend who started off back East with the property that is original has now end up being the much-sought-after Atlantic Club in nj-new jersey’s video gaming mecca appears to be placing a lot of energy into reclaiming his stakes for the reason that component of the world. While video gaming mogul Steve Wynn waits to see which way the wind will blow in Massachusetts for approval of his proposed Everett, Massachusetts project, he is also waiting to get word on another brand new resort casino destined for the Philadelphia, Pennsylvania area.
No Decisions Till Next Spring
Wynn will have to wait until early Spring 2014, through the looks of it, but; that is when chairman of this Pennsylvania Gaming Control Board William H. Ryan, Jr. claims the chosen project for Philly’s coveted casino that is second should be determined. With six candidates waiting eagerly in the wings, you will have a general public hearing held in January to simply help determine which one will be the fit that is best, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in Las Vegas.
‘The hearings can give applicants a possiblity to present to the board and make their instance for why they should be granted the permit,’ Lerner stated in a research note that is released. ‘It is possible losing bidders could impress the board’s choice to the state Supreme Court, which could take approximately six months.’
Wynn’s project is naturally planned out in-depth already, with Wynn Resorts teaming up with a bevy of partners to build this Philadelphia that is second resort ( the HSP Gaming’s SugarHouse has been up since 2010 in the City of Brotherly Love). Tower Entertainment LLC, Market East Associates, PHL Local Gaming LLC, PA Gaming Ventures LLC and Stadium Casino LLC will all join hands with Wynn, if given the high sign, to create a 150,000-square-foot casino that would house 900 slot machines and 100 table games, next to a 300-room resort, all developed on a 60-acre waterfront property.
This will be Wynn Resorts go at a second Philly property; they were in the operating right back in 2010 by having a $600 million project, but pulled out before a decision had been made at the period.
The proposed Philly casino and also the possible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; they are also taking care of a $4 billion casino for Macau’s Cotai Strip.
Is Pennsylvania Market Leveling Out?
These days) in the past few years since 2010, it may now be tougher for Wynn to crack into the Pennsylvania market; industry expert David Schwartz who heads up the Gaming Research Center at Las Vegas’ University of Nevada (UNLV), says that region has somewhat leveled out in growth (a pattern that is being seen across the U.S. in the land gaming markets.
‘After six years of actually blockbuster growth, now it seems to have leveled off,’ Schwartz said. ‘Remember, it went from zero to $3 billion. It could be because it’s really a $3 billion industry.’
But Schwartz adds that the situation is not even close to hopeless, noting the exact same predictions that are dire connected to the Las Vegas market several times, in 1989, 1993, and again in 1998. He states a new wynn resorts property in Philadelphia could very possibly reinvigorate the industry there.
Nj-new Jersey Online Gambling Establish Plan Formally Announced
Coming to New Jersey, just in time for Thanksgiving: Internet gambling enterprises
It has been a wait that is long but as expected, New Jersey’s endeavor into the realm of online gambling begins on November 26, allowing state residents to start playing a common casino games online just in time for Thanksgiving.
Soft Launch First
According to New Jersey’s Gaming Enforcement Division, Atlantic City’s 12 casinos will have the ability to start a ‘soft play’ launch on 21 november. At that time, only a number that is limited of guests should be able to play in the sites. Assuming that all goes well with web sites in that period, then complete scope, a real income online gambling will begin at 9 a.m. local time on the 26th.
The guidelines for playing on nj’s gambling sites is going to be simple. In order to play, users will have to be actually located within brand New Jersey, but are not essential to live there. All players may have become at least 21 years of age.
Up to now, nine of the 12 casinos in Atlantic City have announced partnerships with computer software providers that will allow them to launch their Internet casinos, while a 10th the Trump Plaza is rumored to have partner with Betfair, though who has yet to be confirmed.
The Borgata is known to be working with bwin.party, while Caesars Entertainment which owns four Atlantic City properties will be partnering with 888 Holdings among the confirmed partnerships. Meanwhile, Resorts Casino Hotel has announced a partnership with PokerStars, even though the Taj Mahal will utilize Ultimate Gaming, which already has experience now running the online that is first site going to in Nevada (Caesars https://casino-bonus-free-money.com/lucky-nugget-casino/ Interactive has launched a 2nd site there). Meanwhile, the Tropicana Casino and Resort will partner with Gamesys Limited. Finally, the Golden Nugget has announced that it will be working together with Bally Technologies.
Dropping Revenues for AC Land Casinos
The internet gambling launch will come as being a welcome opportunity for the struggling Atlantic City casino gambling industry. In 2006, Atlantic City’s gambling revenues peaked at a high that is all-time of5.2 billion. However in the previous few years, a number of brand new casino properties in Pennsylvania, nyc, Maryland and other regionally competitive areas have actually chipped away at that revenue, which endured just over $3 billion year that is last could fall below that mark in 2013. This fall became even more precipitous after Hurricane Sandy caused heavy harm to the New Jersey coast in belated 2012. That has generated a loss of jobs and income tax revenue for their state.
Maybe Not everyone is convinced that online gambling shall make much of an impact. Some are worried so it might just shift players whom typically arrived to gamble in the casino to online video gaming, which could even be harmful, as they will never be purchasing hotel rooms and meals or shopping at the casino resorts. But most industry officials think the net effect is good, providing essential revenue for the floundering casinos there.
New Jersey’s Internet gambling legislation ended up being passed by both houses and finalized into law by Governor Chris Christie earlier this year. That came after Christie had previously vetoed a similar law the 12 months before, citing issues that the bill might not pass muster that is constitutional. However the new version of this law was approved after Christie first issued a veto that is conditional which allowed legislators to make some small changes to the bill, including requiring it to expire in a decade making sure that legislators would have a chance to debate its merits again in ten years.
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