CEO Lee Amaitis (center) recently exposed the Cantor Gaming Atlantis sports book; some say he is under federal scrutiny now
Maybe Not a day goes by in the gaming universe without someone in a position of energy somewhere being scrutinized by the feds anymore, it seems. 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 risk management whom pled guilty simply last month to knowingly accepting illegal 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 that he participated in unlawful bookmaking is false and baseless.’
Of program, Anthony Weiner also vehemently denied he was still sexting, so there you go regarding denials of rumors.
Accepting wagers from ‘runners’ people whom place bets for an operation is illegal in Nevada, where Cantor Gaming is headquartered.
It might certainly behoove the sports book company to distance themselves from any further insinuations of illegalities, given that Amaitis just attended opening ceremonies for the new Cantor Gaming competition and recreations books at the Atlantis Casino on Paradise Island in the Bahamas. The company now has eight sports books in Las Vegas, operates the Palms Casino poker room, and offers mobile betting apps, combined with the new Atlantis book, which will be their first run outside of Nevada.
No Allegations Officially Made
Cantor Fitzgerald ended up being quick to indicate 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 up to a solitary felony fee of conspiracy in a ny federal courthouse (bet we can guess what type). In accordance with court documents, he will receive sentencing Dec. 9, joining so numerous others who are going to be having an enjoyable holiday in the joint from the wonderful world of gaming.
Colbert was acquired in a joint arrest couple of years ago, along with 24 others, whenever he had been caught red-handed for an illegal sports to his involvement betting ring in Queens, NY. He originally was looking at eights counts of conspiracy, corruption and cash laundering, but the Queens case had been dismissed while the matter of his moving $100K in gambling profits from Las vegas, nevada to New York was forwarded to the U.S. Attorney’s docket.
Although the 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 his credit Amaitis did apparently aid within the rebuilding of parent business Cantor Fitzgerald after the September 11th attacks on the entire world Trade Center, when the company lost about 2/3rds of their employees. Amaitis was at London during the time, heading up the company’s international dealings.
Wynn Eyes Philadelphia for Next Casino Resort Project
Wynn Resorts is certainly one of six casino companies pitching to enter the Philadelphia gaming market
The casino legend whom began back East with the property that is original has now become the much-sought-after Atlantic Club in nj-new jersey’s gaming mecca is apparently placing a lot of energy into reclaiming their stakes for the reason that component of the entire world. The wind will blow in Massachusetts for approval of his proposed Everett, Massachusetts project, he is also waiting to get word on another new resort casino destined for the Philadelphia, Pennsylvania area while gaming mogul Steve Wynn waits to see which way.
No Decisions Till Next Spring
Wynn will have to wait until early Spring 2014, from the looks from it, however; that is when chairman associated with Pennsylvania Gaming Control Board William H. Ryan, Jr. says the chosen 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 greatly help decide what type is the best fit, noted Bill Lerner, who free slot games zorro runs Union Gaming Research, an industry analyst in Las Vegas.
‘The hearings gives applicants a possiblity to show the board and make their instance 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 hawaii Supreme Court, which could take roughly half a year.’
Wynn’s project is naturally planned out in-depth currently, with Wynn Resorts teaming up with a bevy of lovers 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 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 waterfront property that is 60-acre.
This will be Wynn Resorts second go at a Philly property; they were into the operating back in 2010 by having a $600 million project, but pulled out before a decision had been made at that point.
The proposed Philly casino and the possible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the board that is drawing they are focusing on 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 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 situation is definately not hopeless, noting exactly the same dire predictions were connected to the Las Vegas market a few 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.
New Jersey Online Gambling Launch Plan Officially Announced
Coming to nj-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 Web gambling begins on November 26, permitting 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 be able to begin a ‘soft play’ launch on November 21. At that point, merely a limited number of invited guests should be able to play regarding the sites. Presuming that all goes well with the websites for the reason that period, then full scope, real money online gambling will begin at 9 a.m. local time on the 26th.
The rules for playing on nj’s gambling sites is easy. In order to relax and play, users will physically have to be located within brand New Jersey, but are not required to live there. All players will 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 allows them to launch their online 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 Hotel has announced a partnership with PokerStars, although the Taj Mahal will use Ultimate Gaming, which already has experience now running the first on-line poker site going to in Nevada (Caesars Interactive has launched a second 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 web gambling launch will come as being 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 previous couple of years, lots of brand new casino properties in Pennsylvania, ny, Maryland and other regionally competitive areas have chipped away at that income, which endured just over $3 billion last year and could fall below that mark in 2013. This fall became even more precipitous after Hurricane Sandy caused damage that is heavy the newest Jersey coast in belated 2012. That has generated a loss of jobs and tax revenue for the state.
Maybe Not everyone is convinced that on the web gambling will make much of an impact. Some are worried as they will not be purchasing hotel rooms and food or shopping at the casino resorts that it may just shift players who normally came to gamble in the casino to online gaming, which could even be harmful. But most industry officials believe the internet effect is going to be positive, providing necessary revenue for the floundering casinos there.
New Jersey’s Internet gambling law ended up being passed by both houses and signed into law by Governor Chris Christie earlier this year. That came after Christie had previously vetoed a comparable law the 12 months before, citing concerns that the bill might not pass muster that is constitutional. But the new version regarding the law was approved after Christie first issued a conditional veto, which allowed legislators to help make some minor changes to the bill, including requiring it to expire in a decade making sure that legislators would have a way to debate its merits again in ten years.