Cantor Gaming CEO Under Possible Investigation by Feds

24
Feb

Cantor Gaming CEO Under Possible Investigation by Feds

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

Maybe Not a day goes by in the gaming world without someone in a place 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 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 business Cantor Fitzgerald was quick 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 he participated in illegal bookmaking is false and baseless.’

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

Accepting wagers from ‘runners’ people who spot bets for an operation is illegal in Nevada, where Cantor Gaming is headquartered.

It https://casino-bonus-free-money.com/lucky-nugget-casino/ could undoubtedly behoove the sports book company to distance themselves from any further insinuations of illegalities, given that Amaitis just attended opening ceremonies for a Cantor that is new Gaming and sports books at the Atlantis Casino on Paradise Island into 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 the new Atlantis guide, which is 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 already entered their guilty plea to a solitary felony fee of conspiracy in A new york federal courthouse (bet we can guess which one). In accordance with documents, he will get sentencing Dec. 9, joining so many others who is going to be having a great vacation in the joint from the wonderful world of gaming.

Colbert had been found in a joint arrest couple of years ago, along with 24 others, when he had been caught red-handed for their participation with an illegal activities betting band in Queens, NY. He originally was looking at eights counts of conspiracy, money and corruption laundering, but the Queens case had been dismissed and also 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 his credit Amaitis did reportedly aid within the rebuilding of parent company Cantor Fitzgerald after the September attacks that are 11th the World Trade Center, where the company destroyed about 2/3rds of their employees. Amaitis was in London during the time, heading up the company’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 started out back East with the property that is original has get to be the much-sought-after Atlantic Club in nj-new jersey’s video gaming mecca seems to be putting a lot of energy into reclaiming his stakes for the reason that part of the entire world. While video gaming mogul Steve Wynn waits to see which way the wind will blow in Massachusetts for approval of his proposed Everett, Massachusetts project, he can also be waiting to obtain word on another brand new resort casino destined for the Philadelphia, Pennsylvania area.

No Decisions Till Next Spring

Wynn will have to wait until early Spring 2014, through the looks from it, however; that’s when chairman of the Pennsylvania Gaming Control Board William H. Ryan, Jr. claims the chosen project for Philly’s coveted casino that is second should be determined. With six candidates waiting eagerly in the wings, you will see a general public hearing held in January to greatly help determine what type will be the best fit, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in vegas.

‘The hearings can give applicants a possiblity to show the board and make their case for why they should be granted the permit,’ Lerner stated in a research note that is released. ‘It is possible losing bidders could charm the board’s choice to hawaii Supreme Court, which could take roughly 6 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 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 provided 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 in the running back in 2010 with a $600 million project, but pulled out before a decision ended up being made at that point.

The proposed Philly casino while the possible $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?

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 growth, now it appears to have leveled off,’ Schwartz said. ‘Remember, it went from zero to $3 billion. It could be because it’s a $3 billion industry.’

But Schwartz adds that the specific situation is definately not hopeless, noting similar predictions that are dire connected 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.

Nj Online Gambling Publish Plan Formally Announced

Coming to nj-new Jersey, just in time for Thanksgiving: Internet casinos

It has been a long wait, but as expected, nj’s venture into the realm of Internet gambling will begin 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 be able to commence a ‘soft play’ launch on 21 november. When this occurs, merely a limited wide range of invited guests should be able to play in the sites. Assuming that all goes well with web sites for the reason that period, then complete scope, real money online gambling will begin at 9 a.m. local time on the 26th.

The guidelines for playing on nj’s gambling sites is simple. In order to try out, users will physically have to be located within brand New Jersey, but are not required to live there. All players may have to be at least 21 years of age.

So far, nine of the 12 casinos in Atlantic City have announced partnerships with pc 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 make use of Ultimate Gaming, which already has experience now running the online that is first site going to 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 dealing 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 a high that is all-time of5.2 billion. But in the previous few years, lots of new casino properties in Pennsylvania, New York, Maryland and other regionally competitive areas have actually 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 damage that is heavy the latest Jersey coast in belated 2012. That has led to a lack of jobs and tax revenue for their state.

Maybe Not everyone is convinced that online 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 industry officials that are most believe the net effect will be positive, providing much needed income for the floundering casinos there.

New Jersey’s Internet gambling law was passed away by both houses and signed into law by Governor Chris Christie earlier this year. That came after Christie had previously vetoed a similar law the year before, citing issues that the bill might not pass muster that is constitutional. But the new version of this law was approved after Christie first issued a conditional veto, which permitted legislators to help make some small changes to the bill, including requiring it to expire in a decade to make certain that legislators would have a chance to debate its merits again in ten years.