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Cantor Gaming CEO Under Possible Investigation by Feds

Cantor Gaming CEO Under Possible Investigation by Feds

CEO Lee Amaitis (center) recently started the Cantor Gaming Atlantis sports book; some say he is under federal scrutiny now

Perhaps Not a day goes by in the gaming world without someone in a place of power someplace being scrutinized by the feds anymore, it seems. Now Cantor Gaming CEO Lee Amaitis is under the limelight, according to the The Wall Street Journal, on the coating tail of colleague Michael Colbert Cantor’s now released vice president of danger management who pled guilty simply last month to knowingly accepting illegal wagers.

Denial through the Top

Parent business Cantor Fitzgerald was fast to deny the rumor, however, saying within 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 which he participated in unlawful bookmaking is false and baseless.’

Of program, Anthony Weiner also vehemently denied he was still sexting, therefore there you go when it comes to denials of rumors.

Accepting wagers from ‘runners’ people who spot wagers 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 battle and sports books at the Atlantis Casino on Paradise Island within the Bahamas. The company now has eight sports books in Las Vegas, operates the Palms Casino poker space, and offers mobile betting apps, combined with new Atlantis guide, which will be 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 what type). In accordance with court papers, he’ll get sentencing Dec. 9, joining so many others who will likely be having a fun holiday in the joint from the wonderful world of video gaming.

Colbert was found in a joint arrest two years ago, along side 24 others, whenever he was caught red-handed for an illegal sports to his involvement betting ring in Queens, NY. He originally was looking 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 Las vegas, nevada 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 singing like a bird so he can fly free in December? Time will tell.

To their credit Amaitis did reportedly aid in the rebuilding of parent company Cantor Fitzgerald after the September 11th attacks on the planet Trade Center, when the company lost about 2/3rds of their workers. Amaitis was in 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 began back East with the property that is original has end up being the much-sought-after Atlantic Club in nj’s video gaming mecca seems to be placing a lot of energy into reclaiming his stakes for the reason that component of the entire world. While video gaming mogul Steve Wynn waits to see which means the wind will blow in Massachusetts for approval of his 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 wait until early Spring 2014, through the looks of it, but; that is when chairman regarding the Pennsylvania Gaming Control Board William H. Ryan, Jr. states the chosen project for Philly’s coveted casino that is second should be determined. With six candidates waiting eagerly in the wings, there will be a public hearing held in January to greatly help determine what type is the fit that is best, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in vegas.

‘The hearings will give applicants a possiblity to give the board and make their situation for why they should be granted the license,’ Lerner stated in a released research note. ‘It is possible bidders that are losing allure the board’s choice to hawaii 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 partners to build this second Philadelphia resort casino ( the HSP Gaming’s SugarHouse was 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 go at a second Philly property; they had been into the running straight back in 2010 by having a $600 million task, but pulled out before a decision ended up being made at the period.

The proposed Philly casino plus the feasible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; they will also be 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 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. in the land gaming areas these days) in the past several years.

‘After six years of actually blockbuster development, now it appears 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 specific situation is definately not hopeless, noting similar predictions that are dire attached 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.

Nj-new Jersey Online Gambling Establish Plan Formally Announced

Coming to New Jersey, just in time for Thanksgiving: Internet casinos

It has been a long wait, but as anticipated, New Jersey’s endeavor into the realm of online gambling will start 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 the ability to start a ‘soft play’ launch on November 21. At that time, only a number that is limited of guests should be able to play in the sites. Presuming that all goes well with the websites in that period, then complete range, real money online gambling will begin at 9 a.m. local time on the 26th.

The principles for playing on nj-new jersey’s gambling sites is easy. In order to relax and play, users will need to be physically located within New Jersey, but are not required to reside there. All players may 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 enables 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, whilst the Taj Mahal will use Ultimate Gaming, which already has experience now running the first online poker site hitting 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 working with Bally Technologies.

Dropping Profits for AC Land Casinos

The internet gambling launch will come 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 new casino properties in Pennsylvania, nyc, Maryland and other regionally competitive locations have actually chipped away at that revenue, which stood at 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 injury to the latest Jersey coast in belated 2012. That has led to a loss of jobs and taxation revenue for hawaii.

wheresthegold.org Perhaps Not everyone is convinced that online gambling shall 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 industry officials that are most believe the net impact will be positive, providing essential revenue for the floundering casinos there.

New Jersey’s Internet gambling legislation had been passed away by both houses and finalized into law by Governor Chris Christie earlier this year. That came after Christie had previously vetoed a comparable law the year before, citing issues that the bill might not pass constitutional muster. But the new version for the 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 to make certain that legislators would have a way to debate its merits again in ten years.