Cantor Gaming CEO Under Possible Investigation by Feds
CEO Lee Amaitis (center) recently exposed 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 layer tail of colleague Michael Colbert Cantor's now released vice president of danger management whom pled guilty simply last month to knowingly accepting illegal wagers.
Denial from the Top
Parent business Cantor Fitzgerald was quick to deny the rumor, however, saying in an issued statement: 'We feel compelled to address this irresponsible and baseless rumor. The notion that Lee Amaitis is a target of federal prosecutors or he participated in illegal bookmaking is baseless and false.'
Of program, Anthony Weiner additionally vehemently denied he was still sexting, therefore there you go regarding denials of rumors.
Accepting wagers from 'runners' people who destination wagers for an operation is illegal in Nevada, where Cantor Gaming is headquartered.
It would undoubtedly behoove the sports book company to distance themselves from any further insinuations of illegalities, given that Amaitis just attended opening ceremonies for the Cantor that is new Gaming and recreations books at the Atlantis Casino on Paradise Island within the jugar indian dreaming slot Bahamas. The company now has eight sports books in Las Vegas, operates the Palms Casino poker space, and provides mobile betting apps, combined with the new Atlantis guide, which can be their first run outside of Nevada.
No Allegations Officially Made
Cantor Fitzgerald ended up being quick to point out that no actual allegations of any wrongdoing by Amaitis have been made by authorities. Yet.
33-year-old vice-president that is former has already entered their guilty plea to a solitary felony charge of conspiracy in a ny federal courthouse (bet we can guess which one). According to court papers, he can receive sentencing Dec. 9, joining so many others who is going to be having a great visit to the joint from the wonderful world of video gaming.
Colbert was found in a joint arrest couple of years ago, along with 24 others, whenever he was caught red-handed for an illegal sports to his involvement betting band in Queens, NY. He originally was looking at eights counts of conspiracy, corruption and money laundering, but the Queens case ended up being dismissed and 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 attacks that are 11th the World Trade Center, when the company lost about 2/3rds of their employees. Amaitis was in London during the 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 who started off back East with the original property that has become the much-sought-after Atlantic Club in New Jersey's video gaming mecca appears to be placing a lot of energy into reclaiming his stakes for the reason that part of the planet. While video 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 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 from it, nonetheless; that is when chairman of this Pennsylvania Gaming Control Board William H. Ryan, Jr. claims the chosen project for Philly's coveted second casino license should be determined. With six applicants waiting eagerly in the wings, there will be a general public hearing held in January to greatly help decide what type is the fit that is best, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in nevada.
'The hearings will give applicants a possiblity to show the board and make their case for why they should be awarded the permit,' Lerner stated in a released research note. 'It is possible losing bidders could appeal the board's decision to their state Supreme Court, which could take approximately 6 months.'
Wynn's project is naturally planned out in-depth already, with Wynn Resorts teaming up with a bevy of lovers to build this second Philadelphia resort casino ( the HSP Gaming's SugarHouse was 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 offered 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 60-acre waterfront property.
This will be Wynn Resorts second go at a Philly property; they had been in the running back in 2010 with a $600 million project, but pulled out before a decision had been made at that point.
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 are also working on a $4 billion casino for Macau's Cotai Strip.
Is Pennsylvania Market Leveling Out?
Since 2010, it would likely now be tougher for Wynn to crack into the Pennsylvania market; industry expert David Schwartz who heads up the Gaming Research Center at nevada' University of Nevada (UNLV), says that region has somewhat leveled down in growth (a pattern that is being seen across the U.S. within the land gaming markets today) in the past few years.
'After six years of really blockbuster growth, now it seems to have leveled off,' Schwartz said. 'Remember, it went from zero to $3 billion. It might be because it's a $3 billion industry.'
But Schwartz adds that the specific situation is far from hopeless, noting exactly the same predictions that are dire connected to the Las Vegas market a few times, in 1989, 1993, and again in 1998. He says A wynn that is new resorts in Philadelphia could very possibly reinvigorate the industry there.
Nj Online Gambling Establish Plan Officially Announced
Coming to New Jersey, just in time for Thanksgiving: Internet gambling enterprises
This has been a wait that is long but as expected, nj's venture into the world of Web gambling begins on November 26, permitting 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 be able to begin a 'soft play' launch on 21 november. When this occurs, only a number that is limited of guests should be able to play in the sites. Presuming that all goes well with web sites for the reason that period, then complete scope, real money online gambling will begin at 9 a.m. local time on the 26th.
The principles for playing on New Jersey's gambling sites will likely be easy. In order to relax and play, users will have to be actually located within New Jersey, but are not essential to reside there. All players has become at the least 21 years of age.
To date, nine of the 12 casinos in Atlantic City have announced partnerships with software providers that enables them to launch their Web gambling enterprises, while a 10th the Trump Plaza is rumored to have partner with Betfair, though which includes 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 resort has announced a partnership with PokerStars, even though the Taj Mahal will make use of Ultimate Gaming, which already has experience now running the online that is first web site hitting in Nevada (Caesars 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 shall be working together with Bally Technologies.
Dropping Revenues for AC Land Casinos
The online gambling launch will come as a welcome possibility 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. But in the previous 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 last year and could fall below that mark in 2013. This autumn became much more precipitous after Hurricane Sandy caused heavy injury to the brand new Jersey shore in belated 2012. That has led to a loss in jobs and tax revenue for hawaii.
Not everyone is convinced that on the web gambling will make much of an impact. Some are involved it might just shift players whom generally arrived to gamble in the casino to online video gaming, which could even be harmful, as they will never be purchasing resort rooms and food or shopping at the casino resorts. But industry officials that are most think the net effect are good, providing essential 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 year before, citing issues that the bill might not pass muster that is constitutional. Nevertheless the new version associated with law was approved after Christie first issued a conditional veto, which allowed legislators to make some small changes to the bill, including requiring it to expire in a decade in order that legislators would have a way to debate its merits again in ten years.