CEO Lee Amaitis (center) recently opened 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 coating tail of colleague Michael Colbert Cantor’s now released vice president of risk management who pled guilty month that is just last knowingly accepting unlawful wagers.
Parent company Cantor Fitzgerald was fast to deny the rumor, however, saying in an issued statement: ‘We feel compelled to address this reckless and rumor that is baseless. The notion that Lee Amaitis is a target of federal prosecutors or that he participated in unlawful bookmaking is baseless and false.’
Of course, Anthony Weiner additionally vehemently denied he was still sexting, so there you go when it comes to denials of rumors.
Accepting wagers from ‘runners’ people whom spot wagers for an operation is illegal in Nevada, where Cantor Gaming is headquartered.
It could undoubtedly behoove the sports book company to distance themselves from any further insinuations of illegalities, given that Amaitis just attended opening ceremonies for the brand new Cantor Gaming race and sports books at the Atlantis Casino on Paradise Island into 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.
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 recently entered their 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 will get sentencing Dec. 9, joining so https://queenofthenilepokie.com/ghostbusters/ many more who is having a fun vacation in the joint from the wonderful world of gaming.
Colbert had been acquired in a joint arrest two years ago, along side 24 others, when he was caught red-handed for their participation with an illegal sports 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 singing 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 attacks that are 11th the entire world Trade Center, when the company destroyed about 2/3rds of their employees. Amaitis was at London during the time, heading up the business enterprise’s international dealings.
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 property that is original has get to be the much-sought-after Atlantic Club in New Jersey’s gaming mecca seems to be placing a lot of energy into reclaiming their 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.
Wynn will have to hold back until early Spring 2014, from the looks of it, however; that’s 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 help decide what type is the fit that is best, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in nevada.
‘The hearings will give applicants a chance to present to the board and make their situation for why they should be awarded the permit,’ Lerner stated in a research note that is released. ‘It is possible losing bidders could attract the board’s choice to the state Supreme Court, which could take approximately six months.’
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 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 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 go at a second Philly property; they were within the running right back in 2010 with a $600 million project, but pulled out before a decision was made at the period.
The proposed Philly casino therefore the feasible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; they will also be taking care of a $4 billion casino for Macau’s Cotai Strip.
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 actually blockbuster development, now it generally seems to have leveled off,’ Schwartz said. ‘Remember, it went from zero to $3 billion. It might be because it is a $3 billion industry.’
But Schwartz adds that the situation is definately not hopeless, noting equivalent predictions that are dire connected to the Las Vegas market several times, in 1989, 1993, and again in 1998. He claims A wynn that is new resorts in Philadelphia could very possibly reinvigorate the industry there.
Coming to New Jersey, just in time for Thanksgiving: Internet casinos
This has been a wait that is long but as anticipated, nj-new jersey’s venture into the realm of online gambling will begin on November 26, enabling state residents to begin playing a common casino games online just in time for Thanksgiving.
According to New Jersey’s Gaming Enforcement Division, Atlantic City’s 12 casinos will be able to commence a ‘soft play’ launch on November 21. When this occurs, merely a limited amount of invited guests should be able to play in the sites. Presuming that all goes well with the sites in that period, then full scope, a real income online gambling will begin at 9 a.m. local time on the 26th.
The principles for playing on nj-new jersey’s gambling sites are going to be simple. In order to play, users will physically have to be located within brand New Jersey, but are not essential to reside there. All players will have 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 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, even though the Taj Mahal will utilize Ultimate Gaming, which already has experience now running the first on-line poker web site to hit 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 dealing with Bally Technologies.
The internet 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 a high that is all-time of5.2 billion. However in the previous few years, lots of brand new casino properties in Pennsylvania, ny, Maryland and other regionally competitive areas have chipped away at that income, which stood 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 damage to this new Jersey coast in late 2012. That has led to a lack of jobs and tax revenue for hawaii.
Maybe Not everyone is convinced that online gambling will make much of an effect. Some are concerned so it may just shift players whom typically arrived to gamble in the casino to online video gaming, which could also be harmful, because they will not be buying resort rooms and food or shopping at the casino resorts. But industry officials that are most believe the web effect will likely be good, providing much needed revenue for the floundering casinos there.
New Jersey’s Internet gambling legislation ended up being passed by both houses and finalized into law by Governor Chris Christie earlier this year. That came after Christie had previously vetoed a similar law the year before, citing concerns that the bill might not pass muster that is constitutional. Nevertheless the new version of this law was approved after Christie first issued a conditional veto, which permitted legislators to make some minor 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.