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Cantor Gaming CEO Under Possible Investigation by Feds

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

Maybe 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 The Wall Street Journal, on the layer tail of colleague Michael Colbert Cantor’s now released vice president of danger management who pled guilty month that is just last knowingly accepting unlawful bets.

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 reckless and rumor that is baseless. The notion that Lee Amaitis is a target of federal prosecutors or which he participated in unlawful bookmaking is false and baseless.’

Of course, Anthony Weiner also vehemently denied he was still sexting, therefore there you go in terms of denials of rumors.

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

It would truly 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 into the Bahamas. The company now has eight sports publications in Las Vegas, operates the Palms Casino poker room, and provides mobile betting apps, combined with the new Atlantis book, that will be 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 vice-president that is former has recently entered their guilty plea to a single felony fee of conspiracy in a ny federal courthouse (bet we can guess what type). According to court papers, he’ll receive sentencing Dec. 9, joining so numerous others who are having a great visit to the joint from the wonderful world of gaming.

Colbert had been picked up in a joint arrest two years ago, along with 24 others, whenever he had been caught red-handed for their involvement with an illegal activities betting ring in Queens, NY. He originally was searching at eights counts of conspiracy, corruption and money laundering, but the Queens case had been 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.

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 totally free in December? Time will tell.

To his credit Amaitis did reportedly aid into the rebuilding of parent business Cantor Fitzgerald after the September 11th attacks on the entire world Trade Center, in which the company lost about 2/3rds of their workers. Amaitis was at London at the right time, heading up 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 wizardofozslot.org East with the property that is original has now become the much-sought-after Atlantic Club in nj’s gaming mecca seems to be placing a lot of energy into reclaiming his stakes in that part of the world. While gaming mogul Steve Wynn waits to see which means the wind will blow in Massachusetts for approval of their proposed Everett, Massachusetts project, he can be waiting getting word on another brand new resort casino destined for the Philadelphia, Pennsylvania area.

No Decisions Till Next Spring

Wynn will need to wait until early Spring 2014, from the looks from it, nonetheless; that’s when chairman of the Pennsylvania Gaming Control Board William H. Ryan, Jr. states the selected project for Philly’s coveted second casino permit should be determined. With six applicants waiting eagerly in the wings, you will see a public hearing held in January to greatly help decide what type would be the fit that is best, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in Las Vegas.

‘The hearings will give applicants a chance to present to the board and make their instance for why they should be awarded the license,’ 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 half a year.’

Wynn’s project is naturally planned out in-depth already, with Wynn Resorts teaming up with a bevy of partners to build this second Philadelphia resort casino ( the HSP Gaming’s SugarHouse was 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 go at a second Philly property; they had been within the operating right back in 2010 with a $600 million task, but pulled out before a decision was made at that time.

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 working on 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 development, 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 situation is far from hopeless, noting equivalent dire predictions were connected to the Las Vegas market a few times, in 1989, 1993, and again in 1998. He claims a brand new wynn resorts property in Philadelphia could very possibly reinvigorate the industry there.

Nj Online Gambling Launch Plan Officially 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 world of online gambling begins on November 26, allowing state residents to start 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 be able to start a ‘soft play’ launch on November 21. When this occurs, merely a number that is limited of guests will be able to play regarding the sites. Presuming that all goes well with web sites for the reason that period, then complete range, real money online gambling will begin at 9 a.m. local time on the 26th.

The rules for playing on New Jersey’s gambling sites is easy. In order to relax and play, users will have to be actually located within New Jersey, but are not essential to live there. All players need to be at the 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 Web casinos, while a 10th the Trump Plaza is rumored to have partner with Betfair, though which has yet to be confirmed.

Among the confirmed partnerships, the Borgata is understood become dealing with bwin.party, while Caesars Entertainment which owns four Atlantic City properties are going to be partnering with 888 Holdings. Meanwhile, Resorts Casino Hotel has announced a partnership with PokerStars, although the Taj Mahal will make use of Ultimate Gaming, which already has experience now running the online that is first web site to hit 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 shall be dealing with Bally Technologies.

Dropping Profits for AC Land Casinos

The web 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. But in the previous few years, a number of new casino properties in Pennsylvania, nyc, Maryland and other regionally competitive locations have actually chipped away at that revenue, which stood at just 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 heavy damage to the New Jersey coast in belated 2012. That has resulted in a loss of jobs and taxation revenue for their state.

Maybe Not everyone is convinced that on the web gambling shall 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 think the net impact are going to be positive, 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 comparable law the 12 months before, citing issues that the bill might not pass muster that is constitutional. However the new version of the law was approved after Christie first issued a veto that is conditional which permitted 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.