Galaxy Gaming CEO Reassures Shareholders After Regulatory Denial

A Nevada-based casino table games developer, maker and distributor is wanting to reassure worried shareholders after the company’s California ‘suitability to do business’ rights were revoked by that state’s Gambling Control Commission recently.

Defending Page

Galaxy Gaming CEO Robert Saucier has sent out a four-page missive to investors, claiming that all the presssing issues decried by the California regulators inside their decisions stemmed from a ‘predecessor entity that ceased business procedure in 2009 and dissolved. The proceedings failed to involve Galaxy, directly’ Saucier went on, adding that ‘it is business as usual [at Galaxy ] as we continue to offer our products and services with no interruption.’

With Galaxy doing a whole lot of its business in the Golden State specially with many Indian tribes who have casinos Saucier desired to ensure customers and investors that Galaxy’s ‘gaming license with California 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 to seek and get new licenses and approvals in additional jurisdictions,’ the letter went on to state.

Conflicting Stories

And this is where things have, 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’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 controlled industry such as gaming, the failure become 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 California after the Gambling Commission decision. In reality, he won’t even be able 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 was designed as a Las Vegas-style resort regarding the city’s famous Boardwalk; however a rocky start caused the casino to file for bankruptcy simply 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 summer that is special, in an attempt to get players back through the casino’s doorways. 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 get all of their losses back on slots through to the end of the a deal that many gamblers simply couldn’t pass up month.

Unfortunately, numerous players didn’t see the print that is fine. And whenever they discovered what the promotion entailed, some weren’t pleased with exactly what they’d to get their refunds.

‘I have a very definition that is different of ‘refund’ compared to the Revel and I also believe a most of other people would agree that a refund implies that 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 Fine Printing

The print that is fine the offer from the casino makes the promotion a little less amazing than it may seem 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 way in which the ‘refunds’ are given to players that has Conti and others upset. Players can get their refunds only 5 percent at time, with every ‘block’ of 5 percent being offered in one associated with the 20 weeks after the promotion ends. If a gambler doesn’t visit the casino in a given week, they won’t have the ability to receive that percentage of these refund. In addition, the refund doesn’t shell out in cash, but in free play credits that are used in the devices; it can’t be directly cashed down.

Some might say that a few conditions on an offer such as this one are to be expected: all things considered, it will be foolish to think that the casino could simply hand back each 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 only a second and in really print that is small mean that Revel is skirting laws on clarity in advertising, if not actually breaking them.

Regardless of the standing that is legal of ad, the type of 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 what the ad on TV said,» Conti said. ‘My mother has not attended 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 chairman, is currently facing theft that is federal involving inappropriate usage of a tribe-issued credit card during hus tenure from 2003 to 2009. Thomas, who chaired the Indian tribe that owns Connecticut’s Foxwoods Casino, is charged with using the business card to personally rack up $80,000 in limousine service costs to get his mother to and from her appointments that are medical according to your prosecutor’s opening statements at his trial.

Costly, Considerable 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 charges that are actual destination for just two years between 2007 and 2009 just as the tribe started grappling with tighter available funds after being struck by both the recession and more neighboring states’ land casino competition.

Thomas’ unrelated defense lawyer, Paul Thomas, says it’s as much as the jury to ascertain if those expenses were actually banned.

‘Was it impermissible to charge travel on behalf of their sick, dying mother to get treatment?’ stated defense attorney Thomas. Nice touch, there. The lawyer added that tribal leaders frequently buy gifts for high rollers with these cards, though what that has to do with his mother, we’re not entirely sure. Regardless, it appears that Michael Thomas never submitted required expense states detailing his unwell mom’s limo service. Also not helping the former chairman’s instance was testimony from Barbara Poirier, the tribe’s manager of wellness services, 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 mother there were some Victoria’s Secret credit fees made to the account that is tribal. Probably for a rain dance something or ceremony, 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, therefore naturally anyone could relate 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 federal government getting federal funds. His brother Steven Thomas who 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 a lot more than $700,000 between 2005 and 2008, while acting as assistant director for the tribe’s natural resources department.

Your family that steals together, appeals together? That’s a complete lot of wampum.

UK Debt Collector Makes casino that is bad Using Collected Funds

A Coventry, UK debt collector decided it in fact 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, so that you can recoup his or her own £30 ($46) petrol bill.

Maybe Not Certified to Steal

Unfortunately for him, it was perhaps not an idea that is good all. In fact, it had been probably 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 is forced to accomplish 80 hours of unpaid work for his manager, and pay straight back compensation to 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 take the money in February a year ago, 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 was Chatha’s work to deposit the funds in to the company’s account within a day. However, seizing the ability to create a small extra money, the 34-year-old instead deposited one of the contracted quantities, and tottered on over up to a local casino where he gambled away all the money over the course of several days.

When questioned by authorities, he attempted to claim that it absolutely was all just a simple banking mistake, and this one £6,000 deposit had been paid over the counter, even though the other was deposited to your Face 2 Face account via a automated deposit machine.

Surveillance Video Tells the Tale

However, when police took to the CCTV footage from the bank branch, they determined that Chatha was in fact making a false testimony, and eventually tracked him down again in February in 2010, 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 buy petrol while I was working,’ said Chatha, who chose to express himself. ‘I was not thinking directly. It was never my intention to take it all. We spent some funds to finance my petrol expenses, and had been then trying to get the cash back without anyone knowing, so I went to a bookmakers and a casino,’ he said, incorporating that with the pressure of attempting to win back his losses, ‘We used it all.’

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

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