CEO Lee Amaitis (center) recently started the Cantor Gaming Atlantis sports book; some say he is under federal scrutiny now
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 limelight, according to the The Wall Street Journal, on the layer tail of colleague Michael Colbert Cantor’s now released vice president of danger management whom pled guilty just last month to knowingly accepting unlawful wagers.
Denial from the Top
Parent business Cantor Fitzgerald was fast 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 additionally vehemently denied he was still sexting, so there you go regarding denials of rumors.
Accepting wagers from ‘runners’ people whom spot bets for an operation is illegal in Nevada, where Cantor Gaming is headquartered.
It might truly behoove the sports book company to distance themselves from any further insinuations of illegalities, given that Amaitis just attended opening ceremonies for a Cantor that is new Gaming and recreations books at the Atlantis Casino on Paradise Island in the Bahamas. The company now has eight sports publications in Las Vegas, runs the Palms Casino poker room, and offers mobile betting apps, combined with the Atlantis that is new book which is their first run outside of Nevada.
No Allegations Officially Made
Cantor Fitzgerald had been quick to indicate 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 single felony cost of conspiracy in A new york federal courthouse (bet we can guess which one). According to court documents, he will get sentencing Dec. 9, joining so many more who are going to be having a fun visit to the joint from the wonderful world of video gaming.
Colbert was found in a joint arrest couple of years ago, along side 24 others, when he had been caught red-handed for his participation with an illegal sports betting band in Queens, NY. He originally was searching at eights counts of conspiracy, corruption and money laundering, but the Queens case ended up being dismissed as well as the matter of his moving $100K in gambling profits from Las 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 totally free in December? Time will tell.
To their credit Amaitis did apparently aid into the rebuilding of parent business Cantor Fitzgerald after the September 11th attacks on the planet Trade Center, when the company lost about 2/3rds of their employees. Amaitis was at London at the right time, heading up 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 whom started out back East with the original home that has get to be the much-sought-after Atlantic Club in nj’s gaming mecca seems to be placing a lot of energy into reclaiming his stakes for the reason that component of the entire world. While gaming mogul Steve Wynn waits to see which method the wind will blow in Massachusetts for approval of their proposed Everett, Massachusetts project, he can be waiting getting word on another new resort casino destined for the Philadelphia, Pennsylvania area.
No Decisions Till Next Spring
Wynn will need to hold back until early Spring 2014, through the looks from it, nonetheless; that is when chairman for the Pennsylvania Gaming Control Board William H. Ryan, Jr. says the selected project for Philly’s coveted casino that is second should be determined. With six candidates waiting eagerly in the wings, you will see a public hearing held in January to simply help determine what type would be the fit that is best, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in vegas.
‘The hearings will give applicants an opportunity to show the board and make their situation for why they should be awarded the permit,’ Lerner stated in a released research note. ‘It is possible bidders that are losing attract the board’s choice to their state Supreme Court, which could take approximately six months.’
Wynn’s project is naturally planned out in-depth currently, 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 town 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 provided the high sign, to create a 150,000-square-foot casino that would house 900 slot machines and 100 table games, adjacent to a 300-room resort, all developed on a waterfront property that is 60-acre.
This will be Wynn Resorts second go at a Philly property; they were within the running back in 2010 with a $600 million project, but pulled out before a decision was made at that time.
The proposed Philly casino as well as the feasible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the board that is drawing they will also be focusing on a $4 billion casino for Macau’s Cotai Strip.
Is Pennsylvania Market Leveling Out?
Since 2010, it might now be tougher for Wynn to crack in to 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 notably leveled away in growth (a pattern that is being seen across the U.S. into the land video gaming markets these days) within the past several years.
‘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 is a $3 billion industry.’
But Schwartz adds that the problem is not even close to hopeless, noting the exact same predictions that are dire attached to the Las Vegas market several times, in 1989, 1993, and again in 1998. He states A wynn that is new resorts in Philadelphia could very possibly reinvigorate the industry there.
Nj Online Gambling Publish Plan Officially Announced
Coming to New Jersey, just in time for Thanksgiving: Internet gambling enterprises
It’s been a wait that is long but as anticipated, nj’s endeavor into the realm of Internet gambling will begin on November 26, allowing state residents to begin with playing their favorite 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 a way to begin a ‘soft play’ launch on November 21. When this occurs, only a number that is limited of guests will be able to play on the sites. Assuming that all goes well with the sites for the reason that period, then complete range, a real income online gambling will begin at 9 a.m. local time on the 26th.
The rules for playing on nj’s gambling sites are going to be easy. In order to play, users will physically have to be located within brand New Jersey, but are not necessary to reside there. All players could have to be at the least 21 years of age.
So far, nine of the 12 casinos in Atlantic City have announced partnerships with computer software providers that allows them to launch their Internet casinos, while a 10th the Trump Plaza is rumored to have partner with Betfair, though which 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, as the Taj Mahal will make use of Ultimate Gaming, which already has experience now running the first online poker web site going to in Nevada (Caesars Interactive has now launched a second site there). Meanwhile, the Tropicana Casino and Resort will partner with Gamesys Limited. Finally, the Golden Nugget has announced that it will be using Bally Technologies.
Dropping Profits for AC Land Casinos
The internet gambling launch will come as a opportunity that is welcome the struggling Atlantic City casino gambling industry. In 2006, Atlantic City’s gambling revenues peaked at an all-time high of $5.2 billion. But in the last few years, lots of new casino properties in Pennsylvania, ny, Maryland and other regionally competitive places 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 autumn became all the more precipitous after Hurricane Sandy caused heavy injury to the latest Jersey coast in belated 2012. That has resulted in a lack of jobs and income tax revenue for the state.
Not everyone is convinced that online gambling shall make much of an effect. Some are concerned it might just shift players who usually arrived to gamble in the casino to online video gaming, which could even be harmful, while they will not be buying hotel rooms and food or shopping at the casino resorts. But industry officials that are most believe the net impact is going to be good, providing necessary revenue for the floundering casinos there.
New Jersey’s Internet gambling law had been passed away by both houses and signed 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 constitutional muster. However the new version for the law was approved after Christie first issued a conditional veto, which permitted legislators to help make some small changes to the bill, including requiring it to expire in a decade making sure that legislators would have an opportunity to debate its merits again in ten years.