Galaxy Gaming CEO Reassures Shareholders After Regulatory Denial
A Nevada-based casino table games developer, maker and distributor is attempting to reassure worried shareholders after the company’s California ‘suitability to accomplish business’ liberties were revoked by that state’s Gambling Control Commission recently.
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 in their decisions stemmed from a ‘predecessor entity that ceased business procedure in 2009 and dissolved. The proceedings would not directly involve Galaxy,’ Saucier went on, adding that ‘it is business as usual [at Galaxy ] even as we continue to deliver our products and solutions without any interruption.’
With Galaxy doing a lot of its business in the Golden State specially with many Indian tribes who have casinos Saucier wanted to assure 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 additionally unchanged and remains in good standing. In fact, we continue steadily to seek and find new licenses and approvals in extra jurisdictions,’ the letter went on to state.
And this is where things get, um, a little confusing. All evidence points to the contrary because while Saucier emphatically states in his letter that the California Gambling Control Commission didn’t rule against him or his company in their recent closed regulatory meeting. In fact, 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 are shareholders to believe?
According to Administrative Law Judge Catherine Frink, not Saucier. She’s described him 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 ended up being inexcusable.’
Whatever Saucier is attempting to convince his minions of, it nonetheless seems that Galaxy Gaming LLC will no longer have the ability to run as a tribal vendor in California following the Gambling Commission decision. In reality, he will not even manage to request a reconsideration unless brand new evidence crops up.
Details of ‘Can’t Lose’ Promotion do not stay Well with Revel Customers
Experience Atlantic City ended up being designed as a Las Vegas-style resort on the city’s famous Boardwalk; however a start that is rocky the casino to file for bankruptcy just ten months after it opened one of the most disastrous starts for a casino in recent memory.
That’s why Revel designed unique summer time promotions, so that you can get players right back through the casino’s doors. In a 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. Based on the ads, players would get all of their losses back on slots until the end of the thirty days, a deal that many gamblers simply couldn’t pass up.
Regrettably, numerous players didn’t browse the terms and conditions. And whenever they learned exactly what the advertising entailed, some weren’t satisfied with just what they would to obtain refunds.
‘I employ a definition that is different of ‘refund’ than the Revel and I also believe a most of other people would agree totally 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’s right.’
Read the Fine Printing
The terms and conditions on the offer from the casino makes the promotion a little less amazing than it may look initially. A number of the restrictions are rather tame: gamblers must lose at the very least $100 to qualify, the loss rebates are capped at $100 royal vegas casino australia,000, and table game losses are not covered.
It’s the manner in which the ‘refunds’ are given to players that has Conti and others upset. Players can receive their refunds only 5 percent at time, with every ‘block’ of 5 percent being offered in one of this 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 their refund. In addition, the refund doesn’t spend in cash, but in free play credits that could be used in the machines; it may not be directly cashed down.
Some might say that a few conditions on an offer such as this one are become expected: after all, 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. But, the fact that the details for the ‘refund’ program are flashed on tv ads for just a 2nd and in really little print could mean that Revel is skirting laws on clarity in marketing, or even actually breaking them.
Regardless of the appropriate standing of the ad, the character associated with the advertising has turned off a minumum of one gambler from visiting Revel once more.
‘When we told my mom about that she said, ‘That’s not exactly what the ad on TV said,” Conti said. ‘My mom have not attended the Revel and will not go later on.’
Federal Theft Trial Starts for Former Pequot Tribe Chairman
Michael Thomas, a disgraced previous Mashantucket Pequot Tribal country chairman, is currently facing theft that is federal 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 utilizing 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 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 that he was having financial hardships when he decided Mom could only start to see the doc showing up via limo. The charges that are actual spot for 2 years between 2007 and 2009 just as the tribe started grappling with tighter available funds after being hit by both the recession and much more neighboring states’ land casino competition.
Thomas’ unrelated protection attorney, Paul Thomas, says it is as much as the jury to find out if those costs were really prohibited.
‘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 usually buy gifts for high rollers with these cards, though what that is due to his mother, we’re maybe not entirely sure. Regardless, it appears that Michael Thomas never submitted required expense states detailing his unwell mother’s limo solution. Also not helping the previous chairman’s situation ended up being 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 reach and from medical appointments.
Dirty Laundry…or Lingerie
Additionally apparently not for Mom there had been some Victoria’s Secret credit charges made towards the tribal account. Probably for a rainfall 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, so obviously anybody could connect to their suffering.
Defendant Thomas has pleaded not guilty to one 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 year. 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 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 restored from the 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 not a good idea after all. In fact, it was most likely the stupidest decision he ever made, as he’s now been sentenced to 12 months in jail, suspended for two years, and will likely be forced to do 80 hours of unpaid work for his manager, and spend back compensation to your 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 opportunity to steal the money in February this past year, after being instructed to get two £6,000 contracts for Face 2 Face, a company 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 into the company’s account within 24 hours. However, seizing the chance to produce a little additional money, the 34-year-old alternatively deposited one of the contracted quantities, and tottered on over to a neighborhood 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 any particular one £6,000 deposit had been compensated over the countertop, even though the other was deposited to 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 building 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 had a need to purchase petrol while I was working,’ said Chatha, who chose to express himself. ‘I was not thinking directly. It had been never ever my intention to take it all. We spent some funds to fund my petrol costs, and was then wanting to get the money back without anyone knowing, so I went up to a bookmakers and a casino,’ he said, incorporating that with the force of wanting to win his losses back, ‘We tried it all.’
The judge, however, wasn’t buying it.
‘ I do not believe your account of what happened, but I cannot be sure just what did occur to it,’ reported Judge Richard Griffith-Jones upon sentencing your debt collector. ‘It is important that this would not go on for a long period of time. It was one impulsive act to take the money, and you pleaded bad during the first opportunity.’