A casino that is nevada-based games developer, manufacturer and distributor is trying to reassure worried shareholders after the company’s California ‘suitability to accomplish company’ rights had been revoked by that state’s Gambling Control Commission recently.
Galaxy Gaming CEO Robert Saucier has delivered a four-page missive to investors, claiming that all the presssing issues decried by the Ca regulators within their decisions stemmed from a ‘predecessor entity that ceased business operation in 2009 and dissolved. The proceedings didn’t involve Galaxy, directly’ Saucier went on, incorporating that ‘it is business as usual [at Galaxy ] once we continue to deliver our products and solutions with no interruption.’
With Galaxy doing a lot of its business in the Golden State particularly with many tribes that are indian have casinos Saucier desired to guarantee clients and investors that Galaxy’s ‘gaming license with California 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 reality, we continue to seek and acquire new licenses and approvals in extra jurisdictions,’ the letter went on to state.
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 Contr Read More