Galaxy Gaming CEO Reassures Shareholders After Regulatory Denial

Galaxy Gaming CEO Reassures Shareholders After Regulatory Denial

A Nevada-based casino table games developer, manufacturer and distributor is trying to reassure worried shareholders following the company’s California ’suitability to accomplish business‘ liberties were revoked by that state’s Gambling Control Commission recently.

Defending Letter

Galaxy Gaming CEO Robert Saucier has sent a four-page missive to investors, claiming that all the issues decried by the Ca regulators within their decisions stemmed from a ‚predecessor entity that ceased business operation in 2009 and dissolved. The procedures would not involve Galaxy, directly‘ Saucier went on, adding that ‚it is business as usual [at Galaxy ] even as we continue to provide our products and services with no interruption.‘

With Galaxy doing a lot of its business in the Golden State especially with many tribes that are indian have casinos Saucier desired to assure customers and investors that Galaxy’s ‚gaming license with California 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 Stories

And also this is where things get, um, a little confusing. Because while Saucier emphatically states in his letter that the Ca Gambling Control Commission don’t rule against him or their compa 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 part of a new trend of high-dollar gambling thefts

It is absolutely nothing a new comer to hear about individuals stealing money in purchase to spend it on gambling. Nevertheless, it’s rare that the theft ever gets this big. A 39-year-old bank that is german happens to be accused of stealing over €8 million ($10.6 million) from customers, which then he spent at casinos on the program of several years.

Stole Undetected for Years from Customers

According to the fees, the man works in Buxtehude, a Northern Germany town that is clearly a suburb of Hamburg. Over the course of more than three years spanning between 2007 and 2010 the man stole money from clients‘ accounts no fewer than 156 times. He also directly took money that had been fond of him by customers to spend. According to prosecutors speaking in Stade District Court, the man even faked customer signatures on several occasions in order to gain access with their money.

The amounts stolen varied greatly from customer to client. At some times, he took only a few hundred euros; in the many dramatic cases, a few hundred thousand euros were taken away from accounts at the same time.

As a whole, €8.4 million ($11.1 million) was removed of client accounts over the years. That money was then mostly spent at a local casino in Hamburg.

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