Galaxy Gaming CEO Reassures Shareholders After Regulatory Denial

A casino that is nevada-based games developer, maker and distributor is wanting to reassure worried shareholders after the company’s California ‘suitability to accomplish company’ rights had been revoked by that state’s Gambling Control Commission recently.

Defending Page

Galaxy Gaming CEO Robert Saucier has sent out a four-page missive to investors, claiming that all the presssing issues decried by the California regulators in their decisions stemmed from a ‘predecessor entity that ceased business operation in 2009 and dissolved. The procedures would not directly involve Galaxy,’ Saucier went on, incorporating that ‘it is business as usual [at Galaxy ] once we continue to provide our products and solutions without the interruption.’

With Galaxy doing a great deal of its business in the Golden State especially with many tribes that are indian have casinos Saucier wished to ensure clients and investors that Galaxy’s ‘gaming license with Ca tribes is unchanged and in good standing. Likewise, our status in most other jurisdictions we serve is also unchanged and remains in good standing. In reality, we continue steadily to seek and acquire licenses that are new approvals in extra jurisdictions,’ the letter went on to express.

Conflicting Tales

And this is where things have, um, a little confusing. Because while Saucier emphatically states in their letter that the Ca Gambling Control Commission don’t rule against him or his company in their recent shut regulatory meeting, all proof points to the contrary. In reality, it’s the CEO’s very past that is checkered misstatements, witholding information, and providing misleading information that appears to have gotten him into the pickle in which he now finds himself. So who’re investors to believe?

According to Administrative Law Judge Catherine Frink, not Saucier. He has been described by her as ‘evasive, intentionally dishonest, and misleading in his reaction to questions.’ She adds that ‘in a highly regulated industry such as video gaming, the failure become forthcoming with relevant information ended up being inexcusable.’

Whatever Saucier is wanting to persuade his minions of, it nonetheless appears that Galaxy Gaming LLC will not have the ability to run as a tribal vendor in Ca following a Gambling Commission decision. In reality, he won’t even be able to request a reconsideration unless brand new evidence crops up.

Details of ‘Can’t Lose’ Promotion do not stay Well with Revel Customers

Experience Atlantic City had been designed as a Las Vegas-style resort in the city’s famous Boardwalk; however a start that is rocky the casino to file for bankruptcy just ten months after it opened one of the most disastrous starts for a casino in recent memory.

Summertime ‘Refunds’

That’s why Revel designed special summer promotions, so that you can get players right back through the casino’s doorways. In an advertising campaign that admitted things got off to a rough beginning, Revel invited players back in July, with the promise of a ‘can’t lose’ promotion on slot machines. Based on the ads, players would get all of their losses back on slots until the end of the a deal that many gamblers simply couldn’t pass up month.

Unfortunately, many players didn’t see the print that is fine. And whenever they found out what the advertising entailed, some weren’t happy with exactly what they would to obtain refunds.

‘we employ a different definition of a ‘refund’ than the Revel and I also believe a majority of other folks would agree totally that a refund implies that you will receive the full reimbursement of funds,’ customer Ed Conti told The Star-Ledger after visiting Revel. ‘ I don’t feel it is right.’

Read the Fine Print

The small print on the offer from the casino makes the promotion a little less incredible than it may seem in the beginning. Some of the restrictions are rather tame: gamblers must lose at the very least $100 to qualify, the loss rebates are capped at $100,000, and table game losses are not covered.

It’s the real way in which the ‘refunds’ are fond of players that has Conti and others upset. Players can get their refunds only 5 percent at a right time, with every ‘block’ of 5 percent being available in one of this 20 weeks after the advertising ends. If a gambler doesn’t visit the casino in a given week, they won’t be able to receive that percentage of the refund. In addition, the refund doesn’t pay out in money, but in free play credits that could be used in the devices; it cannot be directly cashed down.

Some might say that the few conditions on an offer similar to this one are to be expected: most likely, it might be foolish to think that a casino could simply surrender every one of its winnings to clients, even over a period that is short of. Nonetheless, the fact that the details associated with the ‘refund’ program are flashed on television ads for merely a second and in really little print could mean that Revel is skirting laws on clarity in marketing, if not actually breaking them.

Regardless of the appropriate standing of the ad, the nature associated with advertising has turned off a minumum of one gambler from visiting Revel once more.

‘When we told my mother about that she said, ‘That’s not just what the ad on TV said, » Conti stated. ‘My mom hasn’t attended the Revel and will maybe not go later on.’

Federal Theft Trial Begins for Former Pequot Tribe Chairman

Michael Thomas, a disgraced previous Mashantucket Pequot Tribal Nation president, is currently facing theft that is federal involving inappropriate use of a tribe-issued bank card during hus tenure from 2003 to 2009. Thomas, who chaired the Indian tribe that owns Connecticut’s Foxwoods Casino, is charged with using the company card to personally rack up $80,000 in limousine service expenses to get his mother to and from her medical appointments, according to the prosecutor’s opening statements at his trial.

Expensive, Extensive Limo Rides

$80,000? That must’ve been close to 200 round trips, by our conservative estimation. Thomas’ defense is he decided Mom could only see the doc arriving via limo that he was having financial hardships when. The charges that are actual place for 2 years between 2007 and 2009 just as the tribe started grappling royal vegas flash casino with tighter available funds after being hit by both the recession and much more neighboring states’ land casino competition.

Thomas’ unrelated protection attorney, Paul Thomas, says it’s as much as the jury to ascertain if those costs had been really not allowed.

‘Was it impermissible to charge travel with respect to their sick, dying mother to get treatment?’ stated defense attorney Thomas. Nice touch, there. The lawyer added that tribal leaders frequently buy gifts for high rollers with these cards, though what that is because of his mother, we’re perhaps not entirely sure. Irrespective, it seems that Michael Thomas never submitted required expense states detailing his sick mother’s limo solution. Additionally not helping the previous president’s instance had been testimony from Barbara Poirier, the tribe’s manager of health services, who noted that the tribe makes transportation services available for members whom need certainly to arrive at and from medical appointments.

Dirty Laundry…or Lingerie

Additionally apparently not for mother there had been some Victoria’s Secret credit fees made to your account that is tribal. Probably for a rainfall dance ceremony or something, we’re guessing. Prosecutors brought to light tax statements showing Thomas’ income of $863,000 in 2008 had fallen to $354,000 by 2009, therefore naturally anyone could connect to their suffering.

Defendant Thomas has pleaded perhaps not accountable to 1 count of theft from an indian organization that is tribal and to two counts of theft concerning an Indian tribal government receiving federal funds. His brother Steven Thomas that is being tried separately was also indicted early this 12 months. Steven Thomas, who acted as the Piquot’s tribal treasurer, has been charged with theft of more than $700,000 between 2005 and 2008, while acting as assistant director of this tribe’s natural resources department.

The family that steals together, appeals together? That’s a complete great deal of wampum.

UK Debt Collector Makes casino that is bad Using Collected Funds

A Coventry, UK debt collector decided it in fact was a good clear idea to gamble away a £6,000 (over $9,000) contract which he had recovered from a debtor on behalf of his employer, to be able to recoup his or her own £30 ($46) petrol bill.

Maybe Not Certified to Steal

Unfortunately for him, this was not an idea that is good all. In reality, it had been most likely the stupidest decision he ever made, as he’s now been sentenced to 12 months in jail, suspended for 2 years, and will likely be forced doing 80 hours of unpaid work for his company, and pay right back compensation to the sum of £3,600.

Sandeep Chatha pleaded guilty to stealing the cash after his employers noticed the sum that is missing called in police.

Chatha took the chance to take the money in February a year ago, after being instructed to get two £6,000 contracts for Face 2 Face, an organization that executes warrants and recover debts on behalf of utility companies.

Upon collecting the debts, it was Chatha’s job to deposit the funds in to the company’s account within a day. However, seizing the opportunity to make a little money that is extra the 34-year-old alternatively deposited just one of the contracted amounts, and tottered on over to a local casino where he gambled away all the money during the period of several days.

When questioned by police, he attempted to claim that it had been all just a simple banking error, and that one £6,000 deposit had been compensated over the counter, while the other was deposited towards the Face 2 Face account via a automated deposit device.

Surveillance Video Tells the Story

However, when police took to the CCTV footage from the bank branch, they determined that Chatha was in fact building a false testimony, and finally monitored him down again in February this year, him no choice but to admit his actions and own up to the theft after he had changed his address, and revealed their findings, which left.

‘I needed seriously to pay for petrol while I was working,’ said Chatha, who chose to represent himself. ‘I was not thinking straight. It was never ever my intention to just take it all. I spent some cash to finance my petrol costs, and was then wanting to get the money back without anyone knowing, therefore I went to a bookmakers and a casino,’ he stated, incorporating that with the pressure of wanting to win back his losses, ‘I used it all.’

The judge, however, wasn’t purchasing it.

‘ I do not believe your account of what happened, but I cannot be sure just what did happen to it,’ reported Judge Richard Griffith-Jones upon sentencing your debt collector. ‘It is very important that this would not go on for a any period of time of the time. It was one impulsive act to take the money, and you also pleaded responsible at the first opportunity.’


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