Galaxy Gaming CEO Reassures Shareholders After Regulatory Denial

Galaxy Gaming CEO Reassures Shareholders After Regulatory Denial

A Nevada-based casino table games developer, maker and distributor is attempting to reassure worried shareholders following the company’s California ‘suitability to accomplish business’ liberties had been revoked by that state’s Gambling Control Commission recently.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 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 did not directly involve Galaxy,’ Saucier went on, adding that ‘it is business as usual [at Galaxy ] 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 tribes that are indian have gambling enterprises Saucier desired to assure customers and investors that Galaxy’s ‘gaming license with Ca tribes is unchanged and in good standing. Likewise, our status in all other jurisdictions we serve is additionally unchanged and remains in good standing. In reality, we continue to seek and find new licenses and approvals in extra jurisdictions,’ the letter went on to express.

Conflicting Tales

And also this is where things get, um, a confusing that is little. Because while Saucier emphatically states in their letter that the California Gambling Control Commission didn’t rule against him or their company in their recent shut regulatory meeting, all proof points to the contrary. In reality, it’s the CEO’s very past that is checkered 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 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 response to questions.’ She adds that ‘in a highly managed industry such as video gaming, the failure become forthcoming with relevant information was inexcusable.’

Whatever Saucier is wanting to convince his minions of, it nonetheless appears that Galaxy Gaming LLC will not manage to operate as a vendor that royal vegas casino bonus code is tribal California following a Gambling Commission decision. In fact, he will not also have the ability to request a reconsideration unless brand new evidence crops up.

Details of ‘Can’t Lose’ Promotion Don’t stay Well with Revel Customers

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

Summertime ‘Refunds’

That’s why Revel designed unique summer time promotions, in an attempt to get players right back through the casino’s doorways. In an advertisement 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 just couldn’t pass up.

Unfortunately, numerous players didn’t read the fine print. And when they discovered just what the advertising entailed, some weren’t pleased with what they’d to obtain refunds.

‘I employ a various definition of the ‘refund’ compared to the Revel and I also believe a majority of other folks would concur that a reimbursement implies that you will 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 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 at first. A few of the restrictions are rather tame: gamblers must lose at the least $100 to qualify, the loss rebates are capped at $100,000, and table game losses are not covered.

It’s the manner in which the ‘refunds’ are fond of players that has Conti and others upset. Players can receive their refunds only 5 percent at time, with each ‘block’ of 5 percent being offered 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 pay out in cash, but in free play credits that can be used in the machines; it can’t 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 will be foolish to think that a casino could simply surrender every one 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 very little printing could mean that Revel is skirting laws on clarity in advertising, if you don’t really breaking them.

Whatever the legal standing of the ad, the type for the advertising has turned off a minumum of one gambler from visiting Revel once more.

‘When I told my mom about that she stated, ‘That’s not exactly what the ad on TV said,” Conti stated. ‘My mom has not visited the Revel and will maybe not go as time goes by.’

Federal Theft Trial Starts for Former Pequot Tribe Chairman

Michael Thomas, a disgraced former Mashantucket Pequot Tribal country 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 company card to personally rack up $80,000 in limousine service costs to get his mother to and from her medical appointments, according to the prosecutor’s opening statements at his trial.

Expensive, Extensive Limo Rides

$80,000? That must’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 destination for two years between 2007 and 2009 just as the tribe started grappling with tighter available funds after being hit by both the recession and 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 banned.

‘Was it impermissible to charge travel on behalf of his ill, 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 because of his mother, we’re perhaps not totally sure. Regardless, it seems that Michael Thomas never submitted required expense states detailing his ill mother’s limo service. Also not helping the previous president’s situation 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 whom need certainly to reach and from medical appointments.

Dirty Laundry…or underwear

Also apparently perhaps not for Mom there had been some Victoria’s Secret credit fees made to the account that is tribal. Probably for a rainfall dance 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, therefore obviously anyone could connect to his suffering.

Defendant Thomas has pleaded not responsible to one count of theft from A indian tribal organization, 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 more than $700,000 between 2005 and 2008, while acting as assistant director regarding the tribe’s natural resources department.

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

UK Debt Collector Makes casino that is bad Using Collected Funds

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

Not Licensed to Steal

Unfortunately for him, it was maybe not a good notion after all. In fact, it was most likely the decision that is stupidest he ever made, as he’s now been sentenced to 12 months in prison, suspended for just two years, and will likely be forced to accomplish 80 hours of unpaid work for his manager, and spend back settlement to your 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 profit February year that is last 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 work to deposit the funds to the company’s account within twenty four hours. However, seizing the ability to make a little money that is extra the 34-year-old instead deposited just one of the contracted quantities, 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 absolutely was all just a simple banking error, and any particular one £6,000 deposit had been compensated over the counter, although the other was deposited towards the Face 2 Face account via a automated deposit machine.

Surveillance Video Tells the Story

However, when police took to the CCTV footage from the bank branch, they determined that Chatha was in fact creating a false testimony, and finally tracked him down again in February in 2010, after he had changed their address, and revealed their findings, which left him no option but to admit their actions and realize the theft.

‘I needed to purchase petrol while I was working,’ said Chatha, whom chose to express himself. ‘I wasn’t thinking directly. It was never ever my intention to take it all. We spent some cash to finance my petrol costs, and had been then wanting to get the cash back without anyone knowing, therefore I went up to a bookmakers and a casino,’ he stated, adding that utilizing the pressure of wanting to win back his losses, ‘I used it all.’

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

‘ I do not believe your account of what happened, but I cannot be certain exactly what did occur to it,’ stated Judge Richard Griffith-Jones upon sentencing your debt collector. ‘It is essential that this would not go on for a long period of the time. It was one impulsive act to steal the money, and you also pleaded guilty during the first opportunity.’