Galaxy Gaming CEO Reassures Shareholders After Regulatory Denial

A casino that is nevada-based games developer, manufacturer and distributor is trying to reassure worried shareholders after the company’s California ‘suitability doing company’ liberties were revoked by that state’s Gambling Control Commission recently.

Defending Letter

Galaxy Gaming CEO Robert Saucier has delivered a four-page missive to investors, claiming that all the issues decried by the Ca regulators within their decisions stemmed from a ‘predecessor entity that ceased business operation in 2009 and dissolved. The proceedings would not directly involve Galaxy,’ Saucier went on, incorporating that ‘it is business as usual [at Galaxy ] once we continue to deliver our products and solutions with no interruption.’

With Galaxy doing plenty of its business in the Golden State especially with many Indian tribes who have casinos Saucier desired to assure clients and investors that Galaxy’s ‘gaming license with California tribes is unchanged and in good standing. Likewise, our status in all other jurisdictions we serve is also unchanged and remains in good standing. In fact, we continue steadily to seek and get new licenses and approvals in additional jurisdictions,’ the letter went on to say.

Conflicting Tales

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

According to Administrative Law Judge Catherine Frink, not Saucier. He has been described by her as ‘evasive, intentionally dishonest, and misleading in their response to questions.’ She adds that ‘in a highly regulated industry such as gaming, the failure to be forthcoming with relevant information had been inexcusable.’

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

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

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

Summer ‘Refunds’

That’s why Revel designed unique summer promotions, so that you can get players back through the casino’s doorways. In an ad campaign that admitted things got off to a rough beginning, Revel invited players back in July, with the vow of a ‘can’t lose’ promotion on slot machines. Based on the ads, players would receive all of their losses back on slots through to the more chilli slot machine online free end of the thirty days, a deal that many gamblers just couldn’t pass up.

Regrettably, numerous players didn’t browse the fine print. And whenever they discovered what the promotion entailed, some weren’t satisfied with exactly what they’d to get their refunds.

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

Read the print that is fine

The print that is fine the offer from the casino makes the promotion a little less incredible than it may look initially. A number of the restrictions are rather tame: gamblers must lose at least $100 to qualify, the loss rebates are capped at $100,000, and table game losses aren’t covered.

It’s the real method by which the ‘refunds’ are given to players that has Conti and others upset. Players can get their refunds only 5 percent at time, with every ‘block’ of 5 percent being available in one of the 20 weeks following the promotion ends. If a gambler doesn’t visit the casino in a given week, they won’t manage to receive that percentage of the refund. In addition, the refund doesn’t shell out in cash, but in free play credits that may be used in the devices; it can not be directly cashed out.

Some might say that the few conditions on an offer such as this one are become expected: after all, it might be foolish to think that the casino could simply surrender each of its winnings to clients, even over a short time period. However, the fact that the details regarding the ‘refund’ program are flashed on television ads for merely a second and in very print that is small mean that Revel is skirting laws on clarity in marketing, if you don’t really breaking them.

Regardless of the standing that is legal of ad, the type of this promotion has turned off at least one gambler from visiting Revel again.

‘When we told my mom relating to this she stated, ‘That’s not what the ad on TV said, » Conti said. ‘My mother hasn’t visited the Revel and will not go in the future.’

Federal Theft Trial Starts for Former Pequot Tribe Chairman

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

Costly, Substantial Limo Rides

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

Thomas’ unrelated protection lawyer, Paul Thomas, says it is as much as the jury to determine if those costs had been really prohibited.

‘Was it impermissible to charge travel on behalf of their sick, dying mother to get treatment?’ said defense attorney Thomas. Nice touch, there. The lawyer added that tribal leaders usually buy gifts for high rollers with these cards, though what that has to do with his mother, we’re maybe not completely sure. Irrespective, it appears that Michael Thomas never submitted required expense reports detailing his unwell mom’s limo solution. Also not helping the chairman that is former situation ended up being testimony from Barbara Poirier, the tribe’s manager of health services, who noted that the tribe makes transportation services available for members whom need to arrive at and from medical appointments.

Dirty Laundry…or underwear

Also apparently not for mother there were some Victoria’s Secret credit fees made to the account that is tribal. Probably for a rain party ceremony or something, we’re guessing. Prosecutors brought to tax that is light showing Thomas’ income of $863,000 in 2008 had fallen to $354,000 by 2009, therefore obviously anyone could relate to their suffering.

Defendant Thomas has pleaded maybe not responsible to 1 count of theft from an indian organization that is tribal and to two counts of theft concerning an Indian tribal government getting 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 a lot more than $700,000 between 2005 and 2008, while acting as assistant director associated with the tribe’s natural resources department.

The family that steals together, appeals together? That’s lot 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, so that you can recoup his own £30 ($46) petrol bill.

Maybe Not Certified to Steal

Unfortunately for him, this is maybe 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 prison, suspended for 2 years, and are going to be forced to do 80 hours of unpaid work for his company, and pay straight back settlement to the sum of £3,600.

Sandeep Chatha pleaded guilty to stealing the cash after their employers noticed the missing sum and called in police.

Chatha took the ability to steal the money in February last year, after being instructed to pick up 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 absolutely was Chatha’s job to deposit the funds to the company’s account within 24 hours. However, seizing the ability to produce a little money that is extra the 34-year-old instead deposited one of the contracted amounts, and tottered on over to a regional casino where he gambled away all the money over the course of several days.

When questioned by police, he attempted to claim that it was all just an easy banking mistake, and that one £6,000 deposit had been paid over the counter, although the other was deposited to your Face 2 Face account via a automatic deposit device.

Surveillance Video Tells the Tale

However, whenever police took to the CCTV footage through the bank branch, they determined that Chatha was in fact creating a false testimony, and in the end monitored him down again in February this season, 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 to buy petrol while I was working,’ said Chatha, who chose to represent himself. ‘I wasn’t thinking right. It absolutely was never ever my intention to take it all. I spent some funds to finance my petrol expenses, and was then trying to get the funds back without anyone knowing, so I went to a bookmakers and a casino,’ he stated, incorporating that with all the pressure of wanting to win back his losses, ‘I used it all.’

The judge, however, ended up beingn’t purchasing it.

‘ I don’t believe your account of what happened, but I can not be sure just what did happen to it,’ reported Judge Richard Griffith-Jones upon sentencing the debt collector. ‘It is very important that this didn’t continue for a period that is long of. It was one impulsive work to steal the money, and you pleaded accountable at the first opportunity.’

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