Galaxy Gaming CEO Reassures Shareholders After Regulatory Denial

A casino that is nevada-based games developer, manufacturer and distributor is wanting to reassure worried shareholders following the company’s California ‘suitability to do company’ 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 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, incorporating that ‘it is business as usual [at Galaxy ] even as we continue to give our products and solutions without any interruption.’

With Galaxy doing plenty of its business in the Golden State particularly with many Indian tribes who have gambling enterprises Saucier desired to ensure clients and investors that Galaxy’s ‘gaming license with Ca 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 fact, we continue to seek and find new licenses and approvals in additional jurisdictions,’ the letter went on to say.

Conflicting Stories

And also this is where things get, um, a confusing that is little. 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’re shareholders to believe?

According to Administrative Law Judge Catherine Frink, not Saucier. She has described him as ‘evasive, intentionally dishonest, and misleading in their response 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 not have the ability to operate as a vendor that is tribal California following Gambling Commission decision. In reality, he won’t also manage to request a reconsideration unless brand new evidence crops up.

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

Experience Atlantic City had been designed as a Las Vegas-style resort regarding the city’s famous Boardwalk; however a rocky start caused the casino to file for bankruptcy just 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 special summer promotions, so that you can get players back through the casino’s doors. Within an ad 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 receive all of their losses back on slots until the end of the month, a deal that many gamblers simply couldn’t pass up.

Unfortunately, many players didn’t see the terms and conditions. And when they discovered what the promotion entailed, some weren’t happy with what they’d to get their refunds.

‘I possess a various definition of the ‘refund’ than the Revel and I also believe a majority of others would agree totally that a reimbursement implies you will receive a full reimbursement of funds,’ customer Ed Conti told The Star-Ledger after visiting Revel. ‘ I don’t feel it is right.’

Read the print that is fine

The print that is fine the offer from the casino makes the promotion a little less amazing than it may look in the beginning. Some 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 manner in which the ‘refunds’ are given to players that has Conti and others upset. Players can get their refunds only 5 percent at a right time, with each ‘block’ of 5 percent being available in one of this 20 weeks after the promotion ends. If a gambler doesn’t go to the casino in a given week, they won’t manage to receive that percentage of their refund. In addition, the refund doesn’t spend in money, but in free play credits that is used in the devices; it may not be directly cashed out.

Some might say that a few conditions on an offer such as this one are become expected: all things considered, it will be foolish to think that the casino could simply give back all of its winnings to clients, even over a short period of time. Nevertheless, the fact that the details for the ‘refund’ program are flashed on television ads for merely a second and in extremely print that is small mean that Revel is skirting laws on clarity in advertising, if you don’t really breaking them.

Regardless of the appropriate standing of the ad, the nature regarding the advertising has turned off at least one gambler from visiting Revel again.

‘When I told my mom relating to this she said, ‘That’s not exactly what the ad on TV said,» Conti said. ‘My mom has not gone to the Revel and will maybe not go in the future.’

Federal Theft Trial Begins for Former Pequot Tribe Chairman

Michael Thomas, a disgraced former Mashantucket Pequot Tribal Nation president, has become facing federal theft charges involving inappropriate usage 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 utilising 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 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’ protection is he decided Mom could only see the doc arriving via limo that he was having financial hardships when. The actual 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 more neighboring states’ land casino competition.

Thomas’ unrelated protection attorney, Paul Thomas, says it’s as much as the jury to find out if those costs had been actually prohibited.

‘Was it impermissible to charge travel on behalf of his sick, 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 is due to his mother, we’re perhaps not completely sure. Regardless, it appears that Michael Thomas never submitted required expense reports detailing his ill mom’s limo solution. Additionally not helping the chairman that is former case was testimony from Barbara Poirier, the tribe’s manager of wellness solutions, who noted that the tribe makes transportation services available for members whom need certainly to get to and from medical appointments.

Dirty Laundry…or underwear

Also apparently not for Mom there were some Victoria’s Secret credit charges made towards the 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, therefore obviously anyone could connect to his suffering.

Defendant Thomas has pleaded not accountable to 1 count of theft from A indian tribal organization, and to two counts of theft concerning an Indian tribal government receiving 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 more than $700,000 between 2005 and 2008, while acting as assistant director associated with tribe’s natural resources department.

The family that steals together, appeals together? That’s great deal 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, to be able to recover his or her own £30 ($46) petrol bill.

Not Certified to Steal

Unfortunately for him, it was maybe not an idea that is good all. In fact, it had been most likely the decision that is stupidest he ever made, as he’s now been sentenced to 12 months in prison, suspended for 2 years, and are going to be forced to do 80 hours of unpaid work for his company, and pay straight back payment towards the sum of £3,600.

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

Chatha took the ability to steal the money in February last year, after being instructed to get 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 had been Chatha’s task to deposit the funds into the company’s account within a day. However, seizing the opportunity to create a little money that is extra the 34-year-old instead deposited one among 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 an easy banking error, and this one £6,000 deposit had been paid over the countertop, although the other was deposited to your Face 2 Face account via a automated deposit device.

Surveillance Video Tells the Tale

However, whenever police took to the CCTV footage through the bank branch, they determined that Chatha was in fact making a false testimony, and in the end tracked 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.

‘we needed to purchase petrol while I was working,’ said Chatha, whom chose to represent himself. ‘I wasn’t thinking right. It was never my intention to take it all. I spent some funds to invest in my petrol expenses, and ended up being then attempting to get the funds back without anyone knowing, therefore I went to a bookmakers and a casino,’ he said, incorporating that aided by the stress of wanting to win his losses back, ‘I used it all.’

The judge, however, ended up beingn’t purchasing it.

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

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