
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 spotlight, according to the lucky nugget no deposit bonus codes The Wall Street Journal, on the coat 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 company Cantor Fitzgerald was quick to deny the rumor, however, saying within an issued statement: ‘We feel compelled to address this irresponsible and rumor that is baseless. 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 in terms of denials of rumors.
Accepting wagers from ‘runners’ people who place bets for an 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 Cantor that is new Gaming 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, along with the Atlantis that is new book that is their first run outside of Nevada.
No Allegations Officially Made
Cantor Fitzgerald had been quick to indicate that no actual allegations of any wrongdoing by Amaitis have been made by authorities. Yet.
33-year-old former vice-president Colbert has recently entered their guilty plea up to a solitary felony charge of conspiracy in A new york federal courthouse (bet we can guess which one). In accordance with documents, he can get sentencing Dec. 9, joining so numerous others who will be having a fun visit to the joint from the world that is wonderful of.
Colbert had been acquired in a joint arrest couple of years ago, along with 24 others, when he had been caught red-handed for his involvement with an illegal sports betting band in Queens, NY. He originally was looking at eights counts of conspiracy, money and corruption laundering, but the Queens case ended up being dismissed and also 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 singing like a bird so he can fly free in December? Time will tell.
To his credit Amaitis did reportedly aid into the rebuilding of parent company Cantor Fitzgerald after the September attacks that are 11th the World Trade Center, when the company lost about 2/3rds of their workers. Amaitis was at London during the 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 off back East with the original home that has become the much-sought-after Atlantic Club in New Jersey’s gaming mecca seems to be putting a lot of energy into reclaiming his stakes in that part 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, through the looks of it, but; that’s when chairman of the Pennsylvania Gaming Control Board William H. Ryan, Jr. claims the selected project for Philly’s coveted second casino license should be determined. With six candidates waiting eagerly in the wings, there will be a general public hearing held in January to simply help decide which one will be the best fit, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in vegas.
‘The hearings can give applicants a possiblity to present to the board and make their situation for why they should be granted the permit,’ Lerner stated in a research note that is released. ‘It is possible losing bidders could appeal the board’s choice to the state Supreme Court, which could take roughly six months.’
Wynn’s project is naturally planned out in-depth currently, with Wynn Resorts teaming up with a bevy of lovers to build this second Philadelphia resort casino ( 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 60-acre waterfront property.
This will be Wynn Resorts second go at a Philly property; they were in the operating right 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 while the feasible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the board that is drawing they are also taking care of 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 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 notably leveled out in growth (a pattern that is being seen across the U.S. in the land gaming markets these days) 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 specific situation is not even close to hopeless, noting the same dire predictions were connected to the Las Vegas market several 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 gambling enterprises
It’s been a long wait, but as expected, New Jersey’s endeavor into the world of online gambling will begin on November 26, permitting 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 a way to begin a ‘soft play’ launch on November 21. At that time, only a number that is limited of guests will be able to play regarding the sites. Presuming 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 guidelines for playing on New Jersey’s gambling sites will likely be easy. In order to relax and play, users will physically have to be located within New Jersey, but are not required to reside there. All players has to be at least 21 years of age.
Thus far, nine of the 12 casinos in Atlantic City have announced partnerships with pc software providers that enables 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 Hotel has announced a partnership with PokerStars, as the Taj Mahal will utilize Ultimate Gaming, which already has experience now running the first online poker web 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 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 few years, a number of new casino properties in Pennsylvania, nyc, Maryland and other regionally competitive locations 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 injury to the New Jersey shore in belated 2012. That has resulted in a loss of jobs and tax revenue for hawaii.
Perhaps Not everyone is convinced that on line gambling shall make much of an effect. Some are concerned 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 net effect are going to be good, providing necessary 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 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 making sure that legislators would have a way to debate its merits again in ten years.