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trying to reassure worried shareholders following the company’s California ‘suitability to do business’ liberties had been revoked by that state’s Gambling Control Commission recently.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 Ca regulators inside their decisions stemmed from a ‘predecessor entity that ceased business procedure in 2009 and dissolved. The procedures failed to involve Galaxy, directly’ Saucier went on, adding that ‘it is business as usual [at Galaxy ] once we continue to give our products and solutions with no interruption.’

With Galaxy doing plenty of its business in the Golden State particularly with many Indian tribes who have casinos Saucier wished to assure customers and investors that Galaxy’s ‘gaming license with Ca 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 reality, we continue to seek and get licenses that are new approvals in extra jurisdictions,’ the letter went on to express.

Conflicting Stories

And this is where things get, um, a confusing that is little. Because while Saucier emphatically states in his letter that the California Gambling Control Commission did not rule against him or his company in their current closed regulatory meeting, all evidence points to the contrary. In fact, it is the CEO’s very past that is checkered misstatements, witholding information, and providing misleading information that appears to have gotten him into the pickle by 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 his reaction to questions.’ She adds that ‘in a highly managed industry such as gaming, the failure to be forthcoming with relevant information ended up being inexcusable.’

Whatever Saucier is trying to convince his minions of, it nonetheless appears that Galaxy Gaming LLC will no longer have the ability to run as a tribal vendor in Ca following Gambling Commission decision. In reality, he won’t even manage 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 had been designed as a Las Vegas-style resort regarding the city’s famous Boardwalk; but a start that is rocky the casino to file for bankruptcy simply ten months after it opened certainly one of the many disastrous starts for a casino in recent memory.

Summertime ‘Refunds’

That’s why Revel designed summer that is special, in an effort to get players straight back through the casino’s doors. In a advertising campaign that admitted things got off to a beginning that is rough Revel invited players back in July, with the vow of a ‘can’t lose’ royal vegas mobile casino download promotion on slot machines. According to the ads, players would receive all of their losses back on slots until the end of the thirty days, a deal that many gamblers just couldn’t pass up.

Unfortuitously, many players didn’t browse the small print. And whenever they found out just what the advertising entailed, some weren’t happy with exactly what they’d to obtain refunds.

‘I possess a different definition of a ‘refund’ than the Revel and I believe a majority of others would concur that a reimbursement 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 really is right.’

Read the print that is fine

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

It’s the method by which the ‘refunds’ are provided to players that has Conti and others upset. Players can get their refunds only 5 percent at time, with each ‘block’ of 5 percent being available in one for 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 are used in the devices; it can’t be directly cashed down.

Some might say that the few conditions on an offer similar to this one are to be expected: in the end, it will be foolish to think that a casino could simply surrender every one of its winnings to customers, even over a period that is short of. But, the fact that the details regarding the ‘refund’ program are flashed on tv ads for merely a 2nd and in extremely print that is small mean that Revel is skirting laws on clarity in advertising, if you don’t actually breaking them.

Regardless of standing that is legal of ad, the type associated with advertising has turned off a minumum of one gambler from visiting Revel once again.

‘When we told my mom concerning this she stated, ‘That’s not what the ad on TV said,” Conti stated. ‘My mom hasn’t visited the Revel and will not go as time goes by.’

Federal Theft Trial Starts for Former Pequot Tribe Chairman

Michael Thomas, a disgraced former Mashantucket Pequot Tribal Nation chairman, has become facing federal theft charges 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 utilising the company card to personally rack up $80,000 in limousine service expenses to get his mother to and from her appointments that are medical according to your prosecutor’s opening statements at his trial.

Expensive, Extensive Limo Rides

$80,000? That have to’ve been close to 200 round trips, by our conservative estimation. Thomas’ protection is that he was having financial hardships when he decided Mom could just begin to see the doc showing up via limo. The real charges took place for two years between 2007 and 2009 just as the tribe started grappling with tighter available funds after being struck by both the recession and much more neighboring states’ land casino competition.

Thomas’ unrelated defense attorney, Paul Thomas, says it is up to the jury to determine if those expenses were actually banned.

‘Was it impermissible to charge travel with respect to their unwell, dying mother to get treatment?’ stated 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 totally sure. Irrespective, it appears that Michael Thomas never submitted required expense reports detailing his ill mom’s limo solution. Also not helping the previous president’s situation was testimony from Barbara Poirier, the tribe’s manager of wellness services, who noted that the tribe makes transportation services available for members whom have to arrive at and from medical appointments.

Dirty Laundry…or underwear

Additionally apparently perhaps not for Mom there were some Victoria’s Secret credit charges made to your account that is tribal. Probably for a rainfall dance something or ceremony, 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, so obviously anyone could relate to their suffering.

Defendant Thomas has pleaded perhaps not accountable to one count of theft from an indian organization that is tribal and to two counts of theft concerning an Indian tribal federal 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 significantly more than $700,000 between 2005 and 2008, while acting as assistant director of the tribe’s natural resources department.

Your 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) agreement which he had recovered from a debtor on behalf of his employer, in order to recoup his own £30 ($46) petrol bill.

Not Certified to Steal

Unfortunately for him, this was perhaps not an idea that is good all. In reality, it absolutely was probably the stupidest decision he ever made, as he’s now been sentenced to 12 months in jail, suspended for just two years, and is going to be forced doing 80 hours of unpaid work for his boss, and spend back settlement towards the sum of £3,600.

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

Chatha took the ability to steal the money in February year that is last after being instructed to pick up two £6,000 contracts for Face 2 Face, a company that executes warrants and recover debts on behalf of utility companies.

Upon collecting the debts, it was Chatha’s job to deposit the funds into the company’s account within 24 hours. However, seizing the chance to make a little money that is extra the 34-year-old alternatively deposited just one of the contracted amounts, and tottered on over up to a neighborhood casino where he gambled away all the money over the course of several days.

When questioned by authorities, he attempted to claim that it was all just an easy banking mistake, and this one £6,000 deposit had been paid over the counter, as the other was deposited towards the Face 2 Face account via a deposit machine that is automated.

Surveillance Video Tells the Story

However, when police took to the CCTV footage from 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, after he had changed their address, and unveiled their findings, which left him no choice but to admit his actions and own up to the theft.

‘I needed to pay for petrol while I was working,’ said Chatha, whom chose to represent himself. ‘I wasn’t thinking straight. It absolutely was never my intention to just take it all. We spent some cash to fund my petrol costs, and had been then trying to get the cash back without anyone knowing, therefore I went to a bookmakers and a casino,’ he said, adding that because of the force of wanting to win back his losses, ‘We tried it all.’

The judge, however, wasn’t purchasing it.

‘ I do not believe your account of what happened, but I cannot be yes exactly what did occur to it,’ claimed Judge Richard Griffith-Jones upon sentencing the debt collector. ‘It is important that this would not go on for a long period of time. It was one impulsive work to take the money, and you pleaded responsible at the first opportunity.’

Related Posts

febbraio 14, 2020

Comments are closed.