February 14, 2020

Understanding Odds in Betting

Galaxy Gaming CEO Reassures Shareholders After Regulatory Denial

A casino that is nevada-based games developer, maker and distributor is trying to reassure worried shareholders after the company’s California ‘suitability to complete company’ rights had been revoked by that state’s Gambling Control Commission recently.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 presssing issues decried by the California regulators within 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, incorporating that ‘it is business as usual [at Galaxy ] https://casinopokies777.com/royalvegas-casino/ as we continue to produce our products and solutions with no interruption.’

With Galaxy doing a lot of its business in the Golden State particularly with many Indian tribes who have gambling enterprises Saucier desired to assure 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 steadily to seek and find licenses that are new approvals in extra jurisdictions,’ the letter went on to express.

Conflicting Stories

And also this is where things get, um, a little perplexing. Because while Saucier emphatically states in their letter that the California Gambling Control Commission don’t rule against him or his company in their current closed regulatory meeting, all proof points to the contrary. 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 by which he now finds himself. So who are shareholders to believe?

According to Administrative Law Judge Catherine Frink, not Saucier. She’s got described him as ‘evasive, intentionally dishonest, and misleading in his reaction to questions.’ She adds that ‘in a highly controlled industry such as gaming, the failure to be forthcoming with relevant information ended up being inexcusable.’

Whatever Saucier is attempting to persuade his minions of, it nonetheless appears that Galaxy Gaming LLC will not be able to run as a tribal vendor in California after the Gambling Commission decision. In reality, he will not also be able to request a reconsideration unless new evidence crops up.

Details of ‘Can’t Lose’ Promotion do not Sit Well with Revel Customers

Enjoy Atlantic City had been designed as a Las Vegas-style resort on the city’s famous Boardwalk; but a rocky start caused the casino to file for bankruptcy simply ten months after it opened certainly one of the many disastrous starts for a casino in recent memory.

Summer ‘Refunds’

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

Unfortuitously, many players didn’t read the print that is fine. And whenever they learned what the advertising entailed, some weren’t pleased with just what they’d to get their refunds.

‘we have a very definition that is different of ‘refund’ compared to the Revel and I believe a majority of other people would agree totally that a reimbursement implies that you will receive the full reimbursement of funds,’ customer Ed Conti told The Star-Ledger after visiting Revel. ‘ I do not feel it really 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. 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 way in which the ‘refunds’ are provided to players that has Conti and others upset. Players can get their refunds only 5 percent at time, with each ‘block’ of 5 percent being available in one regarding the 20 weeks following the advertising ends. If a gambler doesn’t visit 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 money, but in free play credits that may be used in the machines; it can’t be directly cashed away.

Some might say that the few conditions on an offer such as this one are to be expected: after all, it would be foolish to think that a casino could simply give back each of its winnings to clients, even over a period that is short of. But, the fact that the details of the ‘refund’ program are flashed on television ads for merely a 2nd and in extremely tiny printing could mean that Revel is skirting laws on clarity in marketing, or even really breaking them.

No matter what the legal standing of the ad, the type regarding the promotion has turned off one or more gambler from visiting Revel once more.

‘When we told my mother about any of it she said, ‘That’s not exactly what the ad on TV said,” Conti stated. ‘My mom hasn’t gone to 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 president, happens to be facing federal theft charges 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 utilising the company card to personally rack up $80,000 in limousine service costs 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 must’ve been close to 200 round trips, by our conservative estimation. Thomas’ protection is he was having economic hardships when he decided Mom could just start to see the doc arriving via limo. The real 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 determine if those expenses were actually prohibited.

‘Was it impermissible to charge travel with respect to his unwell, 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 is because of his mother, we’re maybe not completely sure. Regardless, it seems that Michael Thomas never submitted required expense reports detailing his unwell mom’s limo service. Additionally not helping the chairman that is former instance was testimony from Barbara Poirier, the tribe’s director of wellness services, whom noted that the tribe makes transportation services available for members whom need certainly to reach and from medical appointments.

Dirty Laundry…or underwear

Additionally apparently maybe not for Mom there had been some Victoria’s Secret credit fees made to your tribal account. Probably for a rainfall 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, so obviously anybody could relate to their suffering.

Defendant Thomas has pleaded not bad 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 regarding the tribe’s natural resources department.

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

Not Certified to Steal

Unfortunately for him, this is maybe not an idea that is good all. In reality, it absolutely was most likely the stupidest decision 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 settlement to the sum of £3,600.

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

Chatha took the ability to take the profit February year that is last after being instructed to pick up 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 task to deposit the funds in to the company’s account within 24 hours. However, seizing the ability to create a small money that is extra the 34-year-old alternatively deposited one of the contracted amounts, and tottered on over 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 a simple banking mistake, and any particular one £6,000 deposit had been compensated over the counter, even though the other was deposited to your Face 2 Face account via a deposit machine that is automated.

Surveillance Video Tells the Tale

However, when police took to the CCTV footage from the bank branch, they determined that Chatha was in reality building a false testimony, and finally monitored him down again in February this year, after he had changed his address, and unveiled their findings, which left him no choice but to admit his actions and own up to the theft.

‘we had a need to purchase petrol while I was working,’ said Chatha, whom chose to express himself. ‘I wasn’t thinking right. It absolutely was never my intention to take it all. We spent some money to invest in my petrol expenses, and was then wanting to get the cash back without anyone knowing, and so I went up to a bookmakers and a casino,’ he stated, adding that utilizing the force of wanting to win his losses back, ‘We used it all.’

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

‘ I do not believe your account of what happened, but I can’t be yes exactly what did occur to it,’ claimed Judge Richard Griffith-Jones upon sentencing the debt collector. ‘It is important that this would not continue for a period that is long of. It was one impulsive work to steal the money, and you also pleaded accountable during the first opportunity.’