Cantor Gaming CEO Under Possible Investigation by Feds

Cantor Gaming CEO Under Possible Investigation by Feds

CEO Lee Amaitis (center) recently started 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 layer tail of colleague Michael Colbert Cantor’s now released vice president of danger management whom pled guilty just last month to knowingly accepting illegal bets.

Denial from the Top

Parent company Cantor Fitzgerald was quick to deny the rumor, however, saying in a 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 unlawful bookmaking is baseless and false.’

Of program, Anthony Weiner additionally vehemently denied he was still sexting, so there you go regarding denials of rumors.

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

It might 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 recreations books at the Atlantis Casino on Paradise Island in the Bahamas. The company now has eight sports publicat (suite…)

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Japanese Casino Legislation On Target; Organized Crime Gets Shut Out It’s been decades in the making, but Japan spurred on by the promise associated with the 2020 Tokyo Summer Olympic Games appears to be finally building a real push towards legalizing land gaming into the area country. News reports from Reuters state a draft that is solid of gambling policy has been put together, and Japan’s Diet (parliament) may be reviewing before 12 months’s end for early 2014 passage, God willin’ and the crick don’t rise. Baby Procedures Towards Legalization At Last Even if that happens on routine, however, it could take another two years for the legislators to drum up a more in-depth regulatory overview, which in turn would at long last open the road towards bonafide legal casinos to start being built. The objective, of course, being to have everything up and ready to roll in time for those tourists that are all-important have the ability to drop some chunks of modification if they come to Japan for those summer games. As we’ve been seeing advertisement nauseum of late, corruption, crime and gambling seem to often rest into the same bed together, and with an eye towards trying to stem that tide before the tsunami comes in, Japanese lawmakers are building some interesting safeguards within their casino regulations. These include creating an independent gambling regulator that would in turn oversee the license application procedure, because well as making it mandatory for any licensees to have a decade’s worth minimum of their tax, banking and credit home elevators all their top-level executives designed for review. And not soleley the actual execs, but most of the executives’ family may also be scrutinized, presumably so no-one can hide anything by putting it in a spouse’s or sibling’s or son’s or daughter’s name. Oversight Group Will Be Cabinet-Level The regulatory body will probably be set as a de facto cabinet group, using the aim it not beholden to any particular Japanese ministry in its dealings for it being to make. That, in turn, is likely to minimize the likelihood for graft or coercion by any of the mob that is japanese the so-called ‘Yakuza’ organized crime syndicates whom might try to get their fingers into the casino cookie jar. In presenting the plan’s ideas, legislators said the idea that is overall to make sure ‘the hurdles to enter the business enterprise must certanly be set high … With proper regulation and enforcement … there is no reason for gambling enterprises to become hotbeds of criminal activity.’ Also in the start-up regulatory proposal are demands limits to be set on exactly how many casinos can be approved within the early stages, to ensure that regulations will be enforced and the general impact among these entities on the populace at large may be assessed. And while well-known choices of major centers that are metropolitan as Tokyo and Osaka will in all probability be the very first locales for these new legal casinos, there are also provisions into the intends to make certain that some smaller cities could also be taken into consideration for future jobs. Buyers and Sellers Dance the Dance with Atlantic City gambling enterprises Everybody wants an item of Atlantic City’s casinos these days, this indicates Ah, the Atlantic Club in Atlantic City: the lady that everybody wants to rest with, but no body will marry. This New Jersey land gaming joint keeps on finding new suitors, however, and now a new one has popped through to the horizon: a local attorney-slash-entrepreneur, George Miller, who’s produced an investment group aided by The Flynn Company CEO Kevin Flynn of Philadelphia. Apparently, this property duo are eyeing all kinds of East Coast casinos, with the target of firming something up before New 12 months’s 2014 strikes midnight in the clock. Atlantic Club Just One Contender While Miller won’t come right away and state who is looking like they’ll be getting a diamond just yet, he did tell the Press of Atlantic City their group hasn’t eliminated the Atlantic Club being a contender, but that they were ‘looking all over the area’ for just the spot that is right make their deal. The situation is created a bit more interesting in that both Miller and Flynn hold extremely small stakes in A caesars-run pennsylvania property; albeit merely a 0.25% stake each. Press of Atlantic City interviewer Donald Wittkowski shows that this alliance that is minor help the duo, as Caesars has four casinos in Atlantic City and may be willing to part with one. You might recall that Caesars’ international debt-load is sky-high, and some cash right now might be a lot more than welcomed as a few of their records are coming due in 2015. Rumors are that possibly Trump Plaza, Golden Nugget and Revel along with Caesars’ Showboat might all be getting sexy glances from Miller and Flynn at this time. A great amount of Inventory Shared It looks like it’s a sellers market these times, though; additionally in line to buy something in Atlantic City almost certainly to then get in position to obtain an interactive video gaming license for AC’s imminent Internet launch are clothes like PokerStars, possibly Kentucky’s Churchill Downs horse racing operation, as well as Philly’s SugarHouse casino owners are reported to be seeking to expand into the Atlantic City market. British operators 2UP video Gaming is additionally reported to be thinking about AC, backed evidently by the unnamed Asian mogul. On the list of properties allowing it to be known they could be available for the best cost are the now-infamous Atlantic Club, the Plaza (which killed a potential cope with the western Coast’s Meruelo Group for $20 million when the casino’s main mortgage holder Carl Icahn said ‘I don’t think so’ towards the low-ball offer), as well as the Golden Nugget and poor ol’ Revel, which simply can’t seem to stand up, it’s therefore debt-heavy during the top. Needless to say, you may wonder why a town whose casinos are doing this generally speaking awful within the net profits department will be therefore eagerly courted by so many these days, and the answer that is obvious both the interactive gaming potential (you can’t get an online operator’s license without having a land casino) also as the seemingly vague potential for the legalization of sports betting in Atlantic City’s land gambling enterprises, which includes been shot down more times than an Iranian war plane over the White home. Regardless, Miller claims his investment group is doing its diligence that is due about market. The previous few years, he claims he views ‘a great deal of good on the horizon. despite Atlantic City’s crappy profit ledgers’ Caesars Entertainment Rearranges Deck Furniture for Debt Restructuring Caesars Entertainment is doing plenty of restructuring, but does it assist their economically ship that is sinking? Can this number of Titanic debt be salvaged from dragging the ship to the bottom of this ocean that is financial? That’s the question being asked as Caesars Entertainment Corp. put Planet Hollywood one of their kingpin Las Vegas Strip properties right into a new company that is holding along side the Interactive Division and the still-being-built Horseshoe Casino Baltimore. The business has instructed its shareholders they have only until Oct. seventeenth to get in for a stock fire sale to bring in $1.18 billion in much-needed money infusions as well. And also you thought your garage sales were busy. Shareholders Should Buy Stocks First The Securities and Exchange Commission (SEC) filing made by Caesars announces that shareholders can get first dibs on one share each of the new Caesars Acquisition Co. (CAC) for every share for the existing parent business they own. This restructuring has been within the works because this past Spring, and ended up being officially authorized by the Nevada Gaming Control Board in July. Beneath the restructuring, the newly created CAC would have been a partial owner of the also newly created Caesars Growth Partners, and along with Caesars Entertainment (are you dizzy yet?), the newest entity will own Planet Hollywood, the Baltimore under-construction property, and Caesars Interactive Entertainment, which, of course, spearheads the World Series of Poker (WSOP) real money online poker brand that recently launched for Nevada Internet players. Now you might think the idea of all this fundraising is to pay down the company’s massive existing debt, but apparently, they truly are studying the White home financials, because they do say the raised funds will go towards new casino tasks in the U.S., in addition to more online development, in conjunction with 888 Holdings, to get a few online casino web sites up and rolling in New Jersey whenever that state goes online on November 26. They must be in a pissing contest with Obama for the greatest achievable debt ceiling. Gambling’s Highest Debt Load Think we’re joking? Caesars has the dubious honor of holding the casino industry’s highest-ever debt that is long-term at $23.5 billion. In early 2014, they shall do a refi of about $5 billion of that, and got about $200 million towards that amount in a stock purchase already. This somewhat scary debtload doesn’t appear to be deterring anybody from teaming up with the gaming behemoth though; Detroit-based Rock Gaming is in on a joint venture with Caesars to own and run the $400 million Horseshoe Baltimore once it’s completed and willing to open in 2015. And Suffolk Downs Racetrack in Boston went into partnership using the business because well, as they make an effort to obtain $1 billion casino project accepted and built in Boston in Massachusetts’ Battle associated with the Casino Giants game. Looks even Caesars Deputy General Counsel Michael Cohen isn’t completely sure about this restructuring gameplan, nonetheless. ‘Compared to our capital structure, that isn’t a change that is big’ he told the Nevada Gaming Control Board about the business’s spinoff concept if they signed down on the plan in July. ‘Caesars has a complete lot of debt. We think it’s workable, but others disagree.

Japanese Casino Legislation On Target; Organized Crime Gets Shut Out<

It’s been decades in the making, but Japan spurred on by the promise associated with the 2020 Tokyo Summer Olympic Games appears to be finally building a real push towards legalizing land gaming into the area country. News reports from Reuters state a draft that is solid of gambling policy has been put together, and Japan’s Diet (parliament) may be reviewing before 12 months’s end for early 2014 passage, God willin’ and the crick don’t rise.

Baby Procedures Towards Legalization At Last

Even if that happens on routine, however, it could take another two years for the legislators to drum up a more in-depth regulatory overview, which in turn would at long last open the road towards bonafide legal casinos to start being built. The objective, of course, being to have everything up and ready to roll in time for those tourists that are all-important have the ability to drop some chunks of modification if they come to Japan for those summer games.
As we’ve been seeing advertisement nauseum of late, corruption, crime and gambling seem to often rest into the same bed together, and with an eye towards trying to stem that tide before the tsunami comes in, Japanese lawmakers are building some interesting safeguards within their casino regulations. These include creating an independent gambling regulator that would in turn oversee the license application procedure, because well as making it mandatory for any li (suite…)

Continuer la lecture
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