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is trying to reassure worried shareholders following the company’s California ‘suitability to do business’ rights had been revoked by that state’s Gambling Control Commission recently.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 in their decisions stemmed from a ‘predecessor entity that ceased business operation in 2009 and dissolved. The proceedings 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 a great deal of its business in the Golden State especially with many Indian tribes who have casinos Saucier wanted to guarantee customers and investors that Galaxy’s ‘gaming permit with California 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 to seek and get new licenses and approvals in extra jurisdictions,’ the letter went on to express.

Conflicting Tales

And this is where things have, um, a confusing that is little. Because while Saucier emphatically states in their letter that the Ca Gambling Control Commission don’t rule against him or their company in their recent closed regulatory meeting, all evidence points to the contrary. In reality, it is the CEO’s very checkered past involving misstatements, witholding information, and providing misleading information that seems 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. She’s got described him as ‘evasive, intentionally dishonest, and misleading in his reaction to questions.’ She adds that ‘in a highly regulated industry such as gaming, the failure to be forthcoming with relevant information ended up being inexcusable.’

Whatever Saucier is wanting to convince his minions of, it nonetheless appears that Galaxy Gaming LLC will no longer manage to run as a tribal vendor in Ca following a Gambling Commission decision. In fact, 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

Revel in Atlantic City ended up being designed as a Las Vegas-style resort on the city’s famous Boardwalk; but a rocky start caused 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 special summer time promotions, in order to get players straight back through the casino’s doors. Within 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. In accordance with the ads, players would receive all of their losses back on slots until the end of the a deal that many gamblers simply couldn’t pass up month.

Unfortuitously, many players didn’t see the fine print. And when they learned exactly what the advertising entailed, some weren’t pleased with just what they would to obtain refunds.

‘we employ a definition that is different of ‘refund’ compared to the Revel and I believe a majority of others would agree totally that a refund implies you will 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 terms and conditions on the offer from the casino makes the promotion a little less amazing than it may look at first. Some of the restrictions are instead 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 manner in which the ‘refunds’ are provided to players that has Conti and others upset. Players can receive their refunds only 5 percent at a right time, with each ‘block’ of 5 percent being offered in one for the 20 weeks following the promotion ends. If a gambler doesn’t go to the casino in a given week, they won’t have the ability to receive that percentage of their refund. In addition, the refund doesn’t pay out in cash, but in free play credits that could be used in the machines; it cannot be directly cashed away.

Some might say that a few conditions on an offer such as this one are to be expected: in the end, it would be foolish to think that a casino could simply surrender most of its winnings to clients, even over a period that is short of. But, the fact that the details associated with the ‘refund’ program are flashed on tv ads for just a 2nd and in extremely tiny printing could mean that Revel is skirting laws on clarity in advertising, or even really breaking them.

Regardless of the standing that is legal of ad, the nature associated with the promotion has turned off one or more gambler from visiting Revel once more.

‘When I told my mom concerning this she stated, ‘That’s not just what the ad on TV said,” Conti stated. ‘My mom has not gone to the Revel and will maybe not go as time goes by.’

Federal Theft Trial Begins for Former Pequot Tribe Chairman

Michael Thomas, a disgraced former Mashantucket Pequot Tribal Nation more chilli slot machine youtube chairman, happens to be facing theft that is federal involving inappropriate utilization of a tribe-issued charge card during hus tenure from 2003 to 2009. Thomas, who chaired the Indian tribe that owns Connecticut’s Foxwoods Casino, is charged with utilizing the business 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.

Costly, Substantial Limo Rides

$80,000? That must’ve been close to 200 round trips, by our conservative estimation. Thomas’ protection is he decided Mom could only see the doc arriving via limo that he was having financial hardships when. The real charges took 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 lawyer, Paul Thomas, says it’s up to the jury to find out if those expenses were actually 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 frequently buy gifts for high rollers with these cards, though what that is due to his mother, we’re not completely sure. Regardless, it seems that Michael Thomas never submitted required expense reports detailing his unwell mother’s limo service. Additionally not helping the previous chairman’s instance was testimony from Barbara Poirier, the tribe’s manager of health solutions, whom noted that the tribe makes transportation services available for members who need to get to and from medical appointments.

Dirty Laundry…or underwear

Also apparently maybe not for mother there had been some Victoria’s Secret credit charges made to the tribal account. Probably for a rainfall party ceremony or something, we’re guessing. Prosecutors brought to light taxation statements showing Thomas’ income of $863,000 in 2008 had fallen to $354,000 by 2009, so obviously anybody could connect to his suffering.

Defendant Thomas has pleaded not accountable to at least one count of theft from an indian organization that is tribal and to two counts of theft concerning an Indian tribal federal government getting federal funds. His brother Steven Thomas who 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 a lot more than $700,000 between 2005 and 2008, while acting as assistant director associated with tribe’s natural resources department.

The household that steals together, appeals together? That’s a complete lot 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 recovered from a debtor on behalf of his employer, in order to recoup their own £30 ($46) petrol bill.

Maybe Not Licensed to Steal

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

Sandeep Chatha pleaded guilty to stealing the cash after their employers noticed the missing amount and 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, an organization that executes warrants and recover debts on behalf of utility companies.

Upon collecting the debts, it absolutely was Chatha’s work to deposit the funds in to the company’s account within 24 hours. However, seizing the ability to create a little money that is extra the 34-year-old instead deposited one of the contracted amounts, and tottered on over to a local 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 this 1 £6,000 deposit had been paid over the counter, as the other was deposited to your Face 2 Face account via a automatic deposit machine.

Surveillance Video Tells the Tale

However, whenever police took to the CCTV footage from the bank branch, they determined that Chatha was in fact making a false testimony, and in the end monitored him down again in February this present 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 had a need to purchase petrol while I was working,’ said Chatha, who chose to represent himself. ‘I wasn’t thinking directly. It absolutely was never ever my intention to take it all. I spent some money to fund my petrol costs, and ended up being then attempting to get the cash back without anyone knowing, so I went up to a bookmakers and a casino,’ he said, adding that using the stress of trying 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 may not be yes just what did occur to it,’ claimed Judge Richard Griffith-Jones upon sentencing your debt collector. ‘It is very important that this did not continue for a long period of time. It was one impulsive work to steal the money, and you also pleaded bad during the first opportunity.’