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 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 coating tail of colleague Michael Colbert Cantor’s now released vice president of danger management whom pled guilty just last month to knowingly accepting illegal wagers.

Denial through the Top

Parent company Cantor Fitzgerald was quick 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 baseless and false.’

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

Accepting wagers from ‘runners’ people whom destination wagers for an https://casino-bonus-free-money.com/lucky-nugget-casino/ operation is illegal in Nevada, where Cantor Gaming is headquartered.

It would 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 race and recreations books at the Atlantis Casino on Paradise Island within the Bahamas. The company now has eight sports books in Las Vegas, runs the Palms Casino poker space, and offers 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 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 entered his guilty plea up to a solitary felony cost of conspiracy in a ny federal courthouse (bet we can guess which one). In accordance with court documents, he can get sentencing Dec. 9, joining so many more who are having an enjoyable holiday in the joint from the world that is wonderful of.

Colbert had been picked up in a joint arrest couple of years ago, along side 24 others, whenever he had been caught red-handed for an illegal sports to his involvement betting band in Queens, NY. He originally was searching at eights counts of conspiracy, corruption and cash laundering, but the Queens case had been dismissed plus the matter of his moving $100K in gambling profits from Las Vegas 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 company Cantor Fitzgerald after the September 11th attacks on the planet Trade Center, when the company lost about 2/3rds of their employees. 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 certainly one of six casino companies pitching to enter the Philadelphia gaming market

The casino legend who started out back East with the original home that has now become the much-sought-after Atlantic Club in New Jersey’s video gaming mecca seems to be placing a lot of energy into reclaiming his stakes in that component of the planet. 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 need to hold back until early Spring 2014, through the looks of it, but; that is when chairman of the 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 have a general public hearing held in January to greatly help determine which one is the fit that is best, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in Las Vegas.

‘The hearings gives 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 losing bidders could appeal the board’s decision to the state Supreme Court, which could take roughly half a year.’

Wynn’s project is naturally planned out in-depth already, 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 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 waterfront property that is 60-acre.

This will be Wynn Resorts second go at a Philly property; they were into the operating right back in 2010 by having a $600 million project, but pulled out before a decision had been made at that time.

The proposed Philly casino and the possible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; they are taking care of a $4 billion casino for Macau’s Cotai Strip.

Is Pennsylvania Market Leveling Out?

Since 2010, it may 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. within the land gaming areas today) in the past several years.

‘After six years of actually blockbuster development, 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 far from hopeless, noting similar predictions that are dire attached 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-new Jersey Online Gambling Establish Plan Formally Announced

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

It’s been a wait that is long but as expected, nj’s endeavor into the world of online gambling begins on November 26, enabling 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 November 21. At that point, only a number that is limited of guests will be able to play on the sites. Presuming that all goes well with web sites in that period, then full range, 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 are simple. In order to try out, users will need to be actually located within brand New Jersey, but are not essential to live there. All players will have to be at the very least 21 years of age.

So far, 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 resort has announced a partnership with PokerStars, although the Taj Mahal will use Ultimate Gaming, which already has experience now running the first online poker site going to in Nevada (Caesars Interactive has now launched a second site there). Meanwhile, the Tropicana Casino and Resort will mate with Gamesys Limited. Finally, the Golden Nugget has announced that it will be working together with Bally Technologies.

Dropping Profits for AC Land Casinos

The web gambling launch will come being a welcome opportunity for 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, a number of new casino properties in Pennsylvania, ny, Maryland and other regionally competitive areas have actually chipped away at that revenue, which stood at only over $3 billion year that is last could fall below that mark in 2013. This fall became all the more precipitous after Hurricane Sandy caused damage that is heavy this new Jersey shore in belated 2012. That has resulted in a lack of jobs and income tax revenue for the state.

Not everyone is convinced that on the web gambling will make much of an effect. Some are concerned that it may just shift players whom generally arrived to gamble in the casino to online gaming, which could even be harmful, as they will not be buying resort rooms and meals or shopping at the casino resorts. But industry officials that are most believe the net impact are good, providing essential income for the floundering casinos there.

New Jersey’s Internet gambling legislation was passed 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 12 months before, citing concerns that the bill might not pass muster that is constitutional. However the new version associated with the law was approved after Christie first issued a veto that is conditional which permitted legislators to produce some minor changes to the bill, including requiring it to expire in a decade so that legislators would have a chance to debate its merits again in ten years.