Galaxy Gaming CEO Reassures Shareholders After Regulatory Denial

A casino that is nevada-based games developer, manufacturer and distributor is attempting to reassure worried shareholders following the company’s California ‘suitability to do company’ rights had been revoked by that state’s Gambling Control Commission recently.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 in their decisions stemmed from a ‘predecessor entity that ceased business procedure in 2009 and dissolved. The proceedings failed to directly involve Galaxy,’ Saucier went on, incorporating that ‘it is business as usual [at Galaxy ] as we continue to produce our products and services without any interruption.’

With Galaxy doing a lot of its business in the Golden State especially with many Indian tribes who have casinos Saucier wanted to ensure customers and investors that Galaxy’s ‘gaming permit with Ca tribes is unchanged and in good standing. Likewise, our status in every other jurisdictions we serve is also unchanged and remains in good standing. In reality, we continue steadily to seek and get new licenses and approvals in additional jurisdictions,’ the letter went on to state.

Conflicting Tales

And this is where things have, um, a little confusing. Because while Saucier emphatically states in his letter that the California Gambling Control Commission don’t rule against him or his company in their current closed regulatory conference, 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 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 their reaction to questions.’ She adds that ‘in a highly controlled industry such as gaming, the failure become forthcoming with relevant information royal vegas withdrawal had been inexcusable.’

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

Details of ‘Can’t Lose’ Promotion never 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; however a rocky start caused the casino to file for bankruptcy simply ten months after it opened one of the most disastrous starts for a casino in recent memory.

Summertime ‘Refunds’

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

Regrettably, numerous players didn’t see the small print. And when they learned just what the advertising entailed, some weren’t happy with just what they would to obtain refunds.

‘we have a very definition that is different of ‘refund’ than the Revel and I also believe a most of others 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 don’t feel it is right.’

Read the Fine Printing

The fine print on the offer from the casino makes the promotion a little less amazing than it may look at first. A few 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 are not covered.

It’s the real method by 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 every ‘block’ of 5 percent being available in one for the 20 weeks following 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 the refund. In addition, the refund doesn’t spend in cash, but in free play credits that may be used in the machines; it can not be directly cashed away.

Some might say that the few conditions on an offer similar to this one are become expected: all things considered, it would be foolish to think that a casino could simply surrender each of its winnings to customers, even over a period that is short of. But, the fact that the details for the ‘refund’ program are flashed on television ads for only a second and in extremely small printing could mean that Revel is skirting laws on clarity in marketing, or even really breaking them.

No matter what the standing that is legal of ad, the type associated with the promotion has turned off at least one gambler from visiting Revel once again.

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

Federal Theft Trial Starts for Former Pequot Tribe Chairman

Michael Thomas, a disgraced previous Mashantucket Pequot Tribal country president, is currently facing federal theft charges 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 medical appointments, according towards the 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 he decided Mom could only see the doc arriving via limo that he was having financial hardships when. The charges that are actual destination for 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 protection attorney, Paul Thomas, says it is up to the jury to ascertain if those costs were actually prohibited.

‘Was it impermissible to charge travel on behalf of their ill, 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 completely sure. Irrespective, it appears that Michael Thomas never submitted required expense states detailing his unwell mom’s limo solution. Also not helping the former president’s case had been testimony from Barbara Poirier, the tribe’s director of health solutions, who noted that the tribe makes transportation services available for members who need to reach and from medical appointments.

Dirty Laundry…or Lingerie

Also apparently not for Mom there had been some Victoria’s Secret credit fees made towards the 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 dropped to $354,000 by 2009, so naturally anyone could connect to their suffering.

Defendant Thomas has pleaded perhaps not guilty to 1 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 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 regarding the tribe’s natural resources department.

Your family 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 was a idea that is good gamble away a £6,000 (over $9,000) contract which he had recovered from a debtor on behalf of his employer, in order to recover their own £30 ($46) petrol bill.

Maybe Not Licensed to Steal

Unfortunately for him, this was perhaps not a good notion after all. In reality, it absolutely was most likely the decision that is stupidest he ever made, as he’s now been sentenced to 12 months in jail, suspended for 2 years, and will likely be forced to accomplish 80 hours of unpaid work for his company, and pay right back compensation 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 chance to steal the profit February this past year, after being instructed to get two £6,000 contracts for Face 2 Face, an organization that executes warrants and recover debts with respect to utility companies.

Upon collecting the debts, it absolutely was Chatha’s task to deposit the funds in to the company’s account within twenty four hours. However, seizing the ability to create a small extra money, 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 authorities, he attempted to claim that it was all just an easy banking mistake, and that one £6,000 deposit had been compensated 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 Tale

However, whenever police took to the CCTV footage through the bank branch, they determined that Chatha was in reality 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 pay for petrol while I was working,’ said Chatha, whom chose to express himself. ‘I was not thinking directly. It had been never my intention to take it all. I spent some funds to invest in my petrol costs, and ended up being then trying to get the cash back without anyone knowing, and so I went to a bookmakers and a casino,’ he stated, incorporating that utilizing the force of wanting to win back his losses, ‘I used it all.’

The judge, however, wasn’t buying it.

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

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