Galaxy Gaming CEO Reassures Shareholders After Regulatory Denial

Galaxy Gaming CEO Reassures Shareholders After Regulatory Denial

A casino that is nevada-based games developer, maker and distributor is wanting to reassure worried shareholders following the company’s California ’suitability to complete business‘ rights had been revoked by that state’s Gambling Control Commission recently.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 operation in 2009 and dissolved. The proceedings didn’t directly involve Galaxy,‘ Saucier went on, adding that ‚it is business as usual [at Galaxy ] even as we continue to give our products and solutions with no interruption.‘

With Galaxy doing plenty of its business in the Golden State particularly with many tribes that are indian have casinos Saucier desired to assure customers and investors that Galaxy’s ‚gaming permit 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 reality, we continue steadily to seek and find licenses that are new approvals in additional jurisdictions,‘ the letter went on to express.

Conflicting Tales

And this is where things have, um, a confusing that is little. All evidence points to the contrary because while Saucier emphatically states in his letter that t Weiterlesen

German Banker Accused of Stealing Millions to Fund Gambling Habit

German Banker Accused of Stealing Millions to Fund Gambling Habit

A German banker is component of a new trend of high-dollar gambling thefts

It is absolutely nothing not used to hear about people money that is stealing purchase to spend it on gambling. But, it’s rare that the theft ever gets this big. A 39-year-old German bank worker is accused of stealing over €8 million ($10.6 million) from customers, which then he spent at casinos within the program of many years.

Stole Undetected for Years from Customers

According towards the charges, the person works in Buxtehude, a Northern Germany town that is a suburb of Hamburg. Over the course of more than three years spanning between 2007 and 2010 the man took money from clients‘ accounts no fewer than 156 times. He additionally straight took cash that had been provided to him by customers to invest. Based on prosecutors talking in Stade District Court, the man even faked customer signatures on several occasions to be able to gain access to their money.

The amounts stolen varied greatly from customer to client. At some times, he stole only a few hundred euros; in the most cases that are dramatic several hundred thousand euros were taken away from accounts at once.

As a whole, €8.4 million ($11.1 million) was taken out of client accounts within the years. That money was then largely spent at a local casino in Hamburg.

According to prosecutors, the man that is unnamed already repaid €4.5 million ($6 million), althou Weiterlesen

33 Arrested in India Online Gambling Raid

33 Arrested in India Online Gambling Raid

Police in Kandivli, India raided six online gambling hubs

Police in Kandivli, India raided six video gaming parlors and arrested a total of 33 people this week in a crackdown on online gambling in the area. The raid had been the first of its kind into the certain area, as Samta Nagar police raided parlors owned by Planet G Internet activity and Bingo in Kandivli, as well as the Pratik Game Zone in Malad.

Franchise Owners Arrested

All of the raids were conducted on venues that had been franchises of business known as Game King Pvt Ltd, located in Tardeo. A complete of 12 owners associated with the franchises were arrested, along with 21 players who have been into the parlors at the time of the raids. The owners of Game King, Ramesh Chaurasia and KL Mansukhani, have not yet been arrested in connection because of the raids.

Throughout the raids, police recovered 1.31 lakh ($21,500) in funds. According to reports, the facilities in concern was indeed open for at least two years.

‚There are at minimum 300 more centers that are such within the city beneath the franchise of Game King,‘ said Sunil Paraskar, commissioner of police for the North Region. ‚We are searching for the server that is main where these games had been activated. We shall just take Cyber Crime department’s assistance to trace it.‘

Players were able to start accounts at the centers to play gambling that is online for the minimum of 1,000 rupees ($16.50). Once the Weiterlesen