New Jersey Governor Chris Christie is no longer crisscrossing the nation on the campaign that is presidential, and therefore the Republican, now in his second gubernatorial term, has more time and energy to refocus their efforts on issues facing their freecleopatraslots.org own state.
Nj-new Jersey Governor Chris Christie said enough will do on Thursday, calling on state lawmakers to assume control of the town. He made his instance equipped with colorful graphs displaying the reckless overspending that’s become rampant in Atlantic City.
No concern is more vital in New Jersey right now than Atlantic City’s current financial crisis. On Thursday, Christie told their fellow legislators that it’s in the city’s best interest to allow hawaii to take close control of its finances.
‚Even with the assistance and the advice for the Emergency Manager that we set up in 2015, Atlantic City took only modest steps to rein in their expenses,’ Christie said during the statehouse this week. ‚They face a $100 million budget shortfall this year, $100 million budget deficit this year . . . They are the numbers, this might be the math, and they are the important points, and there’s no debate about that.’
Park Destination & Boardwalk Salaries
The governor highlighted what he believes to be gross overspending on municipal workers in Christie’s arguments. Armed with maps and graphs, he showed that 119 city employees were paid over $100,000 throughout the last year that is fiscal an amount which doesn’t even include the ‚Lamborghini-level’ healthcare and benefits package that accompanies those salaries.
Christie also stressed the truth that Atlantic City paid $6.6 million in 2015 to retiring public workers, primarily to compensate unused sick and vacation days. Part-time council members were collectively paid $300,000, an expense viewed as extravagant in the optical eyes associated with the governor.
Unless hawaii legislature takes action to provide control of the gambling that is flailing to Trenton, Christie says he lacks the power to renegotiate contracts with public sector unions to obtain the ‚exorbitant expenses of the city work force in check.’
Takeover is the Only Solution
Christie is calling on State Assembly Speaker Vincent Prieto (D) to urge the chamber to give control of Atlantic City to your state. Prieto opposes that path, opting in favor of the PILOT (payment in lieu of taxes) program instead.
PILOT would allow casinos to pay taxes for a schedule that is fixed isn’t determined on property value or gaming profits, which have actually both greatly diminished over the years, as tourism to the area has dropped.
Christie believes the PILOT system is a solution that is short-term won’t help Atlantic City’s long-term forecast. Financial analyst ensemble Moody’s generally seems to agree.
‚If only the bill that is PILOT [with no other measures instituted], the town will continue to face stress since the single bill is insufficient to restore Atlantic City’s fiscal health,’ the credit history corporation said recently. ‚ as the PILOT bill produces additional profits and avoids incurring additional casino tax liabilities, it is insufficient to avoid crippling deficits of $30 to $40 million a 12 months, within the next five years.’
Christie believes public workers need to step up to the plate in the interest that is best of their city, but it appears some are usually doing that.
Every four weeks instead of two, a change that would allow the government to continue operating until the next quarterly tax payments are received on May 1 after Atlantic City Mayor Don Guardian (R) threatened a city closure of non-essential employees, various unions proposed paying employees.
But that is only one month away, so action will need to be taken, and soon.
DoubleDown Social Casino Illinois Customer Lawsuit Dismissed, Angry Patron Lost $1K in Virtual Chips
IGT’s DoubleDown multiplatform social casino website has survived a course action lawsuit attempt from the disgruntled Illinois customer who advertised that the free video gaming platform offers ‚nothing more than camouflaged unlawful games of chance.’
IGT’s DoubleDown casino that is social back a class action lawsuit effort from a disgruntled Illinois on line customer this week, whom claimed that its operations were tantamount to ‚real’ gambling. (Image: onlinewin.minnim.org)
Plaintiff Margo Phillips blew $1,000 in real money on digital, value-less potato chips on the site before deciding she desired to claw back every play cent. Phillips claimed that because DoubleDown utilizes ‚gambling mechanics’ in its games, its tantamount to actual gambling.
Well, except for real money being involved, but apart from that.
In a class action lawsuit filed during the Circuit Court of Cook County, Illinois, Phillips said she wanted the DoubleDown site to down be shut and money refunded to customers in Illinois. The lawsuit ended up being filed on behalf of all citizens for the state who’d lost over $50 playing at DoubleDown, under the antiquated Illinois Loss Recovery Act (ILRA).
Claw-back Law Dragged Up
The 19th century legislation states that any Illinois gambler who loses $50 or more has the right to sue the winner to obtain the money right back. It also states that will the losing gambler perhaps not sue the winner within sixth months, then ‚any person’ is permitted to sue on behalf of all losers, for up to 3 x the total amount.
The legislation was originally made to protect destitute families who’d had their last dollar stolen by relatives, which was later gambled away.
Phillips says she began playing on DoubleDown in January of 2013, and soon began purchasing virtual (and value-less) chips with genuine money, once she had played through the original way to obtain free chips. She argues, they had a monetary value, just like chips purchased in a casino, and therefore the services offered by DoubleDown were tantamount to illegal gambling because she paid for the chips.
According to Phillips, along with ILRA, DoubleDown ended up being in violation of the Illinois Consumer Fraud and Deceptive Business ways Act, and was guilty of unjustly enriching it self by using ‚gambling devices,’ another no-no under Illinois state law.
The filing could have had to establish that online social casino games is defined as ‚gambling devices,’ and that IGT had procured cash from the plaintiff within an unlawful manner.
But the judge, unlike Phillips, ended up beingn’t buying any of it.
JudgeEdmond Chang noted that ILRA calls for a success and a loser through the results of a gambling proposition. Because virtual chips bought from DoubleDown can not be cashed in for real money, the social casino site cannot lose such a thing from the proposition, and therefore Phillips ended up being on shaky ground.
In fact, broadly speaking, Phillips was asking the court to reconsider the very concept of gambling as it is construed in just about every state in the usa: specifically, the proposition that something of value is risked upon the outcome of an event or game that is susceptible to opportunity into the hope of receiving something different of equal or greater value.
While paying for digital potato chips comprises a stake that is financial without any financial reward involved, no form of gambling has occurred, by any legal definition, at the very least.
In fact, you can say that Phillip’s choice to sue DoubleDown is a definitely better exemplory case of gambling than anything that happens in the social casino website. And in this instance, it had been a bet that is losing.
Money Laundering and Suspicious Activity at Casinos Continues to Rise, FinCEN Reports
Money laundering is serious company.
Unfortunately for the people in the casino industry, criminals have long relished the attractiveness regarding the floor cage as being the perfect tool to clean dirty money into purportedly legitimate funds.
‚Washing’ money by trading it in for chips then cashing it away again has become a preferred method of cash laundering by crooks. Now FinCEN wants the industry to better monitor it self for potential crimes being committed by clients, and the problems have actually become international. (Image: i5design.com)
Since 1996, the Financial Crimes Enforcement Network (FinCEN), a bureau of the United States Department of the Treasury, requires institutions to file Currency Transaction Reports when a customer transacts over $10,000 in an individual day. In addition, federal law mandates that a suspicious activity report (SAR) be completed if the patron is suspected of participating in the laundering of cash.
With thousands of commercial banks into the United States, including smaller institutions that are regional FinCEN is cracking straight down on cash laundering by threatening non-conforming banking institutions with financial penalties.
Without any choice but to comply with FinCEN, SARs filed by banking institutions rose from 288,343 in 2003 to 972,037 in 2013, a 70 percent increase in just 10 years. However, a decline that is unexpected SARs followed in 2014, and along with it arrived an increase in suspicious activity reports being filed by the casino, securities, and insurance coverage industries.
What does it all mean?
Underground and Out of Sight
This week titled, ‚Losing Count: US Terror Rules Drive Money Underground,’ the argument is made that current FinCEN rules might actually be hampering the government’s ability to monitor suspicious activity and intercept potential terrorism in a Wall Street Journal report.
Afraid of dealing with significant financial penalties for facilitating a customer that is suspicious demand, banks are rapidly closing accounts after filing SARs. This forces the alleged perpetrator to use alternative methods to move money, and the funds effectively vanish from regulatory oversight.
‚What do we do, in the law enforcement arena, if the money goes underground?’ FBI crimes that are financial Patrick Fallon pondered in the piece. ‚It’s what you don’t understand that’s the frightening thing.’
As banks will not provide services for suspected launderers, those who are indeed trying to facilitate money movement illegally might be drawn increasingly more to the casino cage.
And while bank SARs dropped by nearly nine percent between 2013-2014, the reports increased in the casino industry by 69 % during the time frame that is same.
Gambling enterprises Feeling the Heat
FinCEN Director Jennifer Calvery said her office’s 340 employees are successfully safeguarding the US system that is financial promoting nationwide security, and SARs play an essential role in those efforts.
‚The information that casinos along with other finance institutions provide is used to confront terrorist organizations, rogue countries, WMD proliferators, international grand corruption, and increasingly serious cyber threats,’ Calvery said in 2014. ‚Violating the BSA (Bank Secrecy Act) can result in FinCEN imposing civil charges against the casino itself.’
And imposing penalties they are, as Calvery’s team levied economic fines on four gambling companies year that is last. Especially ended up being the US Dept. of the Treasury’s $8 million penalty on Caesars Palace Las Vegas for what FinCEN found to be always a violation that is willful of BSA and failure to stick to SAR protocols.
The recent alleged participation of two Philippines banks in an $83 million cyber heist through the New York Federal Reserve has shined an even brighter light on this troubling issue, and you can bet that regulatory arms around the world are moving in to the casino industry for a closer look.
The list of internet sites, which detectives have said were according to servers outside Italy and also been impounded, are as follows: www4.dgbpoker.com; www.pkgambling373.com; www.pkwildpoker.net; www.betfaktor.com; www.planetwin365.com; www.new5.betaland.com; www.new4.betaland.com; www.new2.betaland.com; www.new1.betaland.com; www.new.betaland.com; and www.betaland.com.
But based on CalvinAyre.com, two of the internet sites might have been targeted in error. Austria’s SKS365 Group, which runs Planet365, has categorically distanced itself from any involvement, stating that the group that is criminal exploited Planet365’s brand name reputation to lure bettors to copycat internet sites.
OIA solutions Ltd, meanwhile, which owns Betaland, says that Betaland.com has been closed to players that are italian over a year, and the web sites related to the gambling band which used the Betaland expansion did so without permission and were ‚rightly already darkened to access, as unlicensed.’
Tancredi Hyper Links
Italian authorities said that the ring also had links to Luigi Tancredi, a man understood in Italy as ‚the King of Slots’ for his operations in the legal land-based gambling world.
Tancredi is believed to be the dog owner of DollaroPoker, and was arrested in January and accused to be the mastermind of the gambling ring that operated 12,000 online gaming and lottery video terminals in pubs, cafes and gaming halls throughout Italy.