Galaxy Gaming (table game supplier) in spot of bother in California

[Richas]

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They have been refused a California licence (final hearing is July but the board recommendation is done). The tale above is long and about their CEO, it includes various financial issues, a bankrupt casino that closed and then got torched whilst uninsured, drink driving and more. There is a strong chance that this could impact on their Nevada licence too.

This could also impact the Fairer Gambling / Stop the FOBTs campaign that continues to fill the media from Panorama to Dispatches and from the Guardian and Independent to the Mail and the Express, plus of course local UK papers and regional TV. The founder and funder of that campaign sold his US patents on games like three card poker to Galaxy Gaming for $23m. In reality he got $800k in GG shares and a promise to make monthly payments until 2018 and beyond so basically nearly all the money relies on GG doing well if Derek is to see it.

Derek started his anti FOBT campaign when he found a three card poker game on a FOBT in the UK but could demand no fee as games are not patentable in the EU and the FOBT did not use his copyrighted brand. Since then he has waged war on FOBTs and their competing brands that compete with the GG brands licenced in casinos and online (The company’s titles include Player’s Edge, Emperor’s Challenge, Deuces Wild and Texas Shootout. Its side bet offerings include Bonus Craps, Bust Bonus and Lucky 8).

If Galaxy Gaming does lose its Nevada licence and with it a good chunk of their contracts, then the funding for Fairer Gambling is likely to be a tad reduced too. As it has turned ever more into an anti gambling moralising campaign I for one will be glad to see it with less resources.

 

[Richas]

Brief update.

Galaxy Gaming in bother over its headquarters:

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Trust controlled by wife of Galaxy Gaming CEO files for bankruptcy protection

Jun 24, 2013 (Menafn - Las Vegas Sun - McClatchy-Tribune Information Services via COMTEX) --The Saucier Business Trust, owned by the wife of Galaxy Gaming Inc. CEO Robert Saucier, has filed bankruptcy to protect itself from a foreclosure brought on by Bank of America.

Signed by Therese Saucier, the May 2 filing claims the trust had less than 50,000 in assets against nearly 2 million in debts.
.......

While the Saucier Business Trust collects rent from Galaxy Gaming Inc., Robert Saucier said neither he nor his company has had any occasion to associate with the trust.

A detailed list of 15 creditors with the largest unsecured claims also includes debts to Nevada Energy, Ten Oaks Home Owners Association and the city of Las Vegas.

The filing lists two co-debtors: the Alix Saucier Regulatory Trust and Galaxy Gaming LLC.

Bank of America filed a lawsuit against Galaxy Gaming and the Alix Saucier Regulatory Trust in October 2012 asserting that the companies hid assets to avoid paying debts.

I don't know how this might impact their Nevada licence but it can't be good news.

 

[mikke47]

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They have been refused a California licence (final hearing is July but the board recommendation is done). The tale above is long and about their CEO, it includes various financial issues, a bankrupt casino that closed and then got torched whilst uninsured, drink driving and more. There is a strong chance that this could impact on their Nevada licence too.

This could also impact the Fairer Gambling / Stop the FOBTs campaign that continues to fill the media from Panorama to Dispatches and from the Guardian and Independent to the Mail and the Express, plus of course local UK papers and regional TV. The founder and funder of that campaign sold his US patents on games like three card poker to Galaxy Gaming for $23m. In reality he got $800k in GG shares and a promise to make monthly payments until 2018 and beyond so basically nearly all the money relies on GG doing well if Derek is to see it.

Derek started his anti FOBT campaign when he found a three card poker game on a FOBT in the UK but could demand no fee as games are not patentable in the EU and the FOBT did not use his copyrighted brand. Since then he has waged war on FOBTs and their competing brands that compete with the GG brands licenced in casinos and online (The company’s titles include Player’s Edge, Emperor’s Challenge, Deuces Wild and Texas Shootout. Its side bet offerings include Bonus Craps, Bust Bonus and Lucky 8).

If Galaxy Gaming does lose its Nevada licence and with it a good chunk of their contracts, then the funding for Fairer Gambling is likely to be a tad reduced too. As it has turned ever more into an anti gambling moralising campaign I for one will be glad to see it with less resources.

They can't lose licenses over night, specially with the new licensing approvals. I think nothing bad will come out of this and it's just media talking.