Galaxy Gaming CEO Reassures Shareholders After Regulatory Denial

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

Defending Page

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 procedures would not directly involve Galaxy,’ Saucier went on, adding that ‘it is business as usual [at Galaxy ] once we continue to give our products and services without any interruption.’

With Galaxy doing a lot of its business in the Golden State especially with many tribes that are indian have gambling enterprises Saucier desired to ensure clients and investors that Galaxy’s ‘gaming permit with California tribes is unchanged and in good standing. Likewise, our status in every other jurisdictions we serve is additionally unchanged and remains in good standing. In reality, we continue steadily to seek and get new licenses and approvals in extra jurisdictions,’ the letter went on to express.

Conflicting Tales

And also this is where things have, um, a little perplexing. Because while Saucier emphatically states in their letter that the Ca Gambling Control Commission didn’t rule against him or their company in their current closed regulatory conference, all proof points to the contrary. In reality, it is the CEO’s very checkered past involving 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 their reaction to questions.’ She adds that ‘in a highly regulated industry such as video gaming, the failure to be forthcoming with relevant information ended up being inexcusable.’

Whatever Saucier is wanting to convince his minions of, it nonetheless seems that Galaxy Gaming LLC will no longer manage to run as a vendor that is tribal Ca following the Gambling Commission decision. In fact, he won’t even manage to request a reconsideration unless brand new evidence crops up.

Details of ‘Can’t Lose’ Promotion never stay Well with Revel Customers

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

Summer ‘Refunds’

That’s why Revel designed unique summer time promotions, in an attempt to get players back through the casino’s doorways. In an advertising campaign that admitted things got off to a rough beginning, Revel invited players straight back in July, with the vow of a ‘can’t lose’ promotion on slot machines. According to 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.

Unfortuitously, numerous players didn’t browse the print that is fine. And when they discovered just what the promotion entailed, some weren’t satisfied with what they’d to get their refunds.

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

Read the Fine Printing

The terms and conditions on the offer from the casino makes the promotion a little less incredible than it may seem at first. Some of the restrictions are instead tame: gamblers must lose at the least $100 to qualify, the loss rebates are capped at $100,000, and table game losses aren’t covered.

It’s the manner in 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 offered in one of this 20 weeks after the promotion ends. If a gambler doesn’t look at the casino in a given week, they won’t have the ability to receive that percentage of these refund. In addition, the refund doesn’t pay out in cash, but in free play credits that is used in the devices; it can’t be directly cashed out.

Some might say that a few conditions on an offer such as this one are become expected: in the end, it would be foolish to think that the casino could simply give back most of its winnings to customers, even over a period that is short of. Nonetheless, the fact that the details associated with the ‘refund’ program are flashed on tv ads for merely a 2nd and in very little print could mean that Revel is skirting laws on clarity in advertising, if you don’t really breaking them.

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

‘When we told my mother about it she said, ‘That’s not just what the ad on TV said,” Conti stated. ‘My mom have not gone to the Revel and will not go in the foreseeable future.’

Federal Theft Trial Begins for Former Pequot Tribe Chairman

Michael Thomas, a disgraced former Mashantucket Pequot Tribal country president, has become facing theft that is federal 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 medical appointments, according towards the prosecutor’s opening statements at his trial.

Expensive, Substantial Limo Rides

$80,000? That have to’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 just two 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 defense attorney, Paul Thomas, says it is as much as the jury to find out if those costs had been really banned.

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

Dirty Laundry…or Lingerie

Also apparently maybe not for Mom there were some Victoria’s Secret credit charges made to your tribal account. Probably for a rain dance something or ceremony, we’re guessing. Prosecutors brought to light tax statements showing Thomas’ income of $863,000 in 2008 had fallen to $354,000 by 2009, so naturally anybody could relate to his suffering.

Defendant Thomas has pleaded not accountable to one count of theft from A indian tribal organization, 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 year. 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 regarding the tribe’s natural resources department.

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

UK Debt Collector Makes Bad Casino Bets Using Collected Funds

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

Maybe Not Certified to Steal

Unfortunately for him, this is maybe not a good idea after all. In fact, it had been probably the stupidest decision he ever made, as he’s now been sentenced to 12 months in jail, suspended for two years, and will be forced to complete 80 hours of unpaid work for his manager, and spend right back compensation towards 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 profit February year that is last after being instructed to pick up two £6,000 contracts for Face 2 Face, a business that executes warrants and recover debts with respect to utility companies.

Upon collecting the debts, it was Chatha’s work to deposit the funds to the company’s account within a day. However, seizing the chance to produce 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 regional casino where he gambled away all the money during the period of several days.

When questioned by authorities, he attempted to claim that it absolutely was all just a simple banking error, and any particular one £6,000 deposit had been paid over the countertop, even though the other was deposited to the Face 2 Face account via a automatic deposit device.

Surveillance Video Tells the Tale

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

‘I had a need to pay for petrol while I was working,’ said Chatha, who chose to represent himself. ‘I wasn’t thinking directly. It was never ever my intention to take it all. I spent some money to fund my petrol costs, and was then trying to get the money back without anyone knowing, so I went up to a bookmakers and a casino,’ he stated, adding that using the force of trying to win back his losses, ‘I used it all.’

The judge, however, had beenn’t buying it.

‘ I don’t believe your account of what happened, but I can not be certain exactly what did happen to it,’ claimed Judge Richard Griffith-Jones upon sentencing the debt collector. ‘It is essential that this did not continue for a period that is long of. It was one impulsive act to take the money, and also you pleaded responsible during the first opportunity.’

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