
CEO Lee Amaitis (center) recently launched the Cantor Gaming Atlantis sports book; some say he is under federal scrutiny now
Maybe Not a day goes by in the gaming lucky nugget casino montreal world without someone in a position of power someplace being scrutinized by the feds anymore, it appears. 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 simply last month to knowingly accepting illegal bets.
Denial through the Top
Parent company Cantor Fitzgerald was fast 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 which he participated in illegal bookmaking is baseless and false.’
Of course, 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 whom place wagers for an operation is illegal in Nevada, where Cantor Gaming is headquartered.
It would definitely 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 sports 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, along with the Atlantis that is new book that will be their first run outside of Nevada.
No Allegations Officially Made
Cantor Fitzgerald had been 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 entered his guilty plea up to a single felony charge of conspiracy in a ny federal courthouse (bet we can guess what type). According to documents, he’ll receive sentencing Dec. 9, joining so many others who is having a fun vacation in the joint from the wonderful world of gaming.
Colbert was acquired in a joint arrest 2 yrs ago, along side 24 others, when he was caught red-handed for his participation with an illegal activities betting ring in Queens, NY. He originally was looking at eights counts of conspiracy, corruption and money laundering, but the Queens case had been dismissed and also the matter of his moving $100K in gambling profits from Las Vegas to New York was forwarded to the U.S. Attorney’s docket.
Even though 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 singing like a bird so he can fly free in December? Time will tell.
To their credit Amaitis did apparently aid in the rebuilding of parent business Cantor Fitzgerald after the September attacks that are 11th the World Trade Center, in which the company lost about 2/3rds of their employees. Amaitis was at London at the right time, heading up the business enterprise’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 started out back East with the property that is original has now end up being the much-sought-after Atlantic Club in nj’s video gaming mecca is apparently placing a lot of energy into reclaiming his stakes for the reason that component of the world. While 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 also be waiting to get word on another new resort casino destined for the Philadelphia, Pennsylvania area.
No Decisions Till Next Spring
Wynn will need to hold back until early Spring 2014, through the looks of it, but; that’s when chairman of the Pennsylvania Gaming Control Board William H. Ryan, Jr. says the selected 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 decide which one is the best fit, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in Las Vegas.
‘The hearings gives applicants a chance to show the board and make their instance for why they should be granted the permit,’ Lerner stated in a research note that is released. ‘It is possible losing bidders could allure the board’s decision to their state Supreme Court, which could take roughly 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 has been 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, next 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 operating right back in 2010 having a $600 million project, but pulled out before a decision ended up being 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 may also be taking care of 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 appears to have leveled off,’ Schwartz said. ‘Remember, it went from zero to $3 billion. It might be because it’s really a $3 billion industry.’
But Schwartz adds that the problem is not even close to hopeless, noting equivalent predictions that are dire attached to the Las Vegas market a few times, in 1989, 1993, and again in 1998. He claims a new wynn resorts property in Philadelphia could very possibly reinvigorate the industry there.
New Jersey Online Gambling Publish Plan Formally Announced
Coming to nj-new Jersey, just in time for Thanksgiving: Internet gambling enterprises
It has been a wait that is long but as anticipated, nj-new jersey’s endeavor into the world of Internet 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 commence a ‘soft play’ launch on November 21. When this occurs, only a limited number of invited guests will be able to play on the sites. Assuming that all goes well with the sites for the reason that period, then full scope, real money online gambling will begin at 9 a.m. local time on the 26th.
The principles for playing on nj’s gambling sites is simple. In order to try out, users will have to be actually located within brand New Jersey, but are not essential to reside there. All players has become at the very least 21 years of age.
Thus far, nine of the 12 casinos in Atlantic City have announced partnerships with software providers that will allow them to launch their online 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, as the Taj Mahal will make use of Ultimate Gaming, which already has experience now running the online that is first site to hit 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 will be dealing with Bally Technologies.
Dropping Revenues for AC Land Casinos
The web gambling launch will come as being 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, a number of new casino properties in Pennsylvania, ny, Maryland and other regionally competitive places have actually chipped away at that income, which endured just over $3 billion year that is last could fall below that mark in 2013. This fall became much more precipitous after Hurricane Sandy caused heavy damage to the latest Jersey shore in belated 2012. That has resulted in a loss of jobs and taxation revenue for their state.
Not everyone is convinced that online gambling will make much of an effect. 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 impact are good, providing essential income for the floundering casinos there.
New Jersey’s Internet gambling law was 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 issues that the bill might not pass constitutional muster. But the new version for the law was approved after Christie first issued a veto that is conditional which allowed legislators to create some small changes to the bill, including requiring it to expire in a decade to ensure legislators would have a chance to debate its merits again in ten years.