Nj-new Jersey Governor Chris Christie Calls for Atlantic City Budget Slim Down for Municipal Workers

February 28, 2020 at 1:05 pm

 Nj-new Jersey Governor Chris Christie Calls for Atlantic City Budget Slim Down for Municipal Workers

New Jersey Governor Chris Christie is no longer crisscrossing the nation on the presidential campaign trail, and thus the Republican, now in his 2nd gubernatorial term, has more time and energy to refocus their efforts on issues facing their own state.

New Jersey Governor Chris Christie said enough will do on Thursday, calling on state lawmakers to take solid control of the town. He made his instance built with colorful graphs showing the reckless overspending that’s become rampant in Atlantic City.

No concern is more paramount in nj-new Jersey right now than Atlantic City’s current monetary crisis. On Thursday, Christie told their fellow legislators that it’s in the city’s interest that is best allowing their state to seize control of its funds.

‘Even utilizing the support therefore the advice associated with the Emergency Manager that we set up in 2015, Atlantic City took only modest steps to rein inside their expenses,’ Christie said at the statehouse this week. ‘They face a $100 million budget shortfall this $100 million spending plan deficit this year . . year . These are the true numbers, that is the math, and these are the reality, and there’s no debate about any of it.’

Park Spot & Boardwalk Salaries

In Christie’s arguments, the governor highlighted just what he believes to be gross overspending on municipal workers. Armed with charts and graphs, he showed that 119 city employees were paid over $100,000 through the last financial year, a sum 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 regarded as extravagant in the optical eyes associated with governor.

Unless hawaii legislature takes action to give control of the flailing gambling mecca to Trenton, Christie states he lacks the power to renegotiate contracts with public sector unions to obtain the ‘exorbitant expenses of the city work force under control.’

Takeover is the Only Solution

Christie is calling on State Assembly Speaker Vincent Prieto (D) to urge the chamber to hand over control of Atlantic City to the state. Prieto opposes that path, opting in favor of the PILOT (payment instead of taxes) program alternatively.

PILOT would allow casinos to pay taxes on a fixed schedule that isn’t determined on property value or gaming revenues, which have both significantly diminished over the years, as tourism to the area has fallen.

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 seems to agree.

‘If only the PILOT bill passes [with no other measures instituted], the city will continue to face stress since the single bill is insufficient to restore Atlantic City’s fiscal wellness,’ the credit rating corporation said recently. ‘ as the PILOT bill creates additional profits and avoids incurring casino that is additional liabilities, it is inadequate to avoid crippling deficits of $30 to $40 million a year, over the next five years.’

Christie believes public workers need to step up to the plate in the most readily useful interest of their city, but it seems some happen to be 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 away, so action will need to be taken, and soon month.

DoubleDown Social Casino Illinois Customer Lawsuit Dismissed, Angry Patron Lost $1K in Virtual Chips

IGT’s DoubleDown multiplatform social casino site has survived a course action lawsuit attempt from the disgruntled Illinois customer who stated that the free gaming platform offers ‘nothing more than camouflaged illegal games of opportunity.’

IGT’s DoubleDown social casino overcome back a class action lawsuit effort from a disgruntled Illinois online 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 chips in the site before determining she desired to claw back every play cent. Phillips claimed that because DoubleDown utilizes ‘gambling mechanics’ in its games, it really is tantamount to gambling that is actual.

Well, except for real money being involved, but besides 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 had been filed on behalf of all citizens of the state that has 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 got the right to sue the winner getting the funds back. It also states that should the gambler that is losing sue the winner within sixth months, then ‘any person’ is allowed to sue on behalf of all losers, for approximately three times the total amount.

The legislation was originally made to protect destitute families who’d had their dollar that is last stolen family relations, which was subsequently gambled away.

Phillips says she began playing on DoubleDown in January of 2013, and soon began purchasing virtual (and value-less) chips with real money, once she had played through the supply that is original of 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, in addition to ILRA, DoubleDown ended up being in violation of the Illinois customer Fraud and Deceptive Business techniques Act, and was guilty of unjustly enriching itself by using ‘gambling devices,’ another no-no under Illinois state law.

The filing might have had to establish that online social casino games is defined as ‘gambling devices,’ and that IGT had procured money from the plaintiff in an unlawful way.

Define ‘Gambling’

But the judge, unlike Phillips, ended up beingn’t buying any of it.

JudgeEdmond Chang noted that ILRA requires a winner and a loser from the upshot of a gambling proposition. Because virtual chips bought from DoubleDown cannot be cashed in for a real income, the social casino site cannot lose any such thing from the idea, and therefore Phillips was on shaky ground.

In fact, generally, Phillips was asking the court to reconsider the definition that is very of as it is construed in essentially every state in the united states: specifically, the proposition that something of value is risked upon the end result of a event or game that is susceptible to possibility within the hope of receiving another thing of equal or greater value.

While spending money on digital chips constitutes a financial stake, with no financial reward involved, no kind 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 example of gambling than something that happens regarding the casino site that is social. And in this case, it was a bet that is losing.

Money Laundering and Suspicious Activity at Casinos Continues to Rise, FinCEN Reports

Money laundering is serious business.

Unfortunately for people in the casino industry, criminals have long relished the attractiveness of the floor cage as being the instrument that is perfect clean dirty money into purportedly legitimate funds.

‘Washing’ money by trading it in for chips and then cashing it away again has develop into a method that is preferred of laundering by criminals. Now FinCEN wants the industry to better monitor it self for possible crimes being committed by patrons, and the problems have actually become international. (Image: i5design.com)

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 a single day since 1996, the Financial Crimes Enforcement Network ( FinCEN. In addition, federal legislation mandates that a suspicious activity report (SAR) be completed in the event that patron is suspected of participating in the laundering of cash.

With thousands of commercial banks into the US, including smaller regional institutions, FinCEN is cracking down on money laundering by threatening non-conforming banking institutions with financial penalties.

Without any option 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 with it came a growth in suspicious activity reports being filed by the casino, securities, and insurance coverage companies.

What does it all mean?

Underground and Out of Sight

In a Wall Street Journal report this week titled, ‘Losing Count: US Terror Rules Drive Money Underground,’ the argument is made that present FinCEN cleopatraslot.org rules might actually be hampering the government’s capability to monitor dubious activity and intercept potential terrorism.

Afraid of dealing with significant financial penalties for facilitating a customer that is suspicious request, banking institutions are quickly closing accounts after filing SARs. This forces the alleged perpetrator to use alternative solutions to move money, and the funds efficiently vanish from regulatory oversight.

‘What do we do, in the police force arena, as soon as the money goes underground?’ FBI crimes that are financial Patrick Fallon pondered into the piece. ‘It’s what you do not know that’s the frightening thing.’

Those who are indeed trying to facilitate money movement illegally may be drawn more and more to the casino cage as banks refuse to provide services for suspected launderers.

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 workers are successfully safeguarding the usa system that is financial promoting nationwide security, and SARs play an essential role in those efforts.

‘The information that casinos along with other banking institutions offer can be used to confront terrorist organizations, rogue countries, WMD proliferators, foreign grand corruption, and increasingly serious cyber threats,’ Calvery said in 2014. ‘Violating the BSA (Bank Secrecy Act) might result in FinCEN imposing penalties that are civil the casino it self.’

And imposing penalties they are, as Calvery’s team levied financial fines on four gambling companies year that is last. Most notably ended up being the US Dept. of the Treasury’s $8 million penalty on Caesars Palace Las Vegas for just what FinCEN found to be a willful violation of the BSA and failure to stick to SAR protocols.

The recent alleged involvement of two Philippines banks in an $83 million cyber heist from the New York Federal Reserve has shined an even brighter light with this unpleasant issue, and you can bet that regulatory hands worldwide are moving in the casino industry for the closer look.

The list of web sites, which detectives have stated were centered on servers outside Italy and have now been impounded, are the following: 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 in accordance with CalvinAyre.com, two of web sites may 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 reputation to lure bettors to copycat sites.

OIA Services Ltd, meanwhile, which has Betaland, says that Betaland.com has been closed to players that are italian over a year, and the web sites associated with the gambling ring which used the Betaland extension did so without authorization and had been ‘rightly currently darkened to get into, as unlicensed.’

Tancredi Hyper Links

Italian authorities said that the ring additionally had links to Luigi Tancredi, a guy known in Italy as ‘the King of Slots’ for their operations in the legal land-based gambling world.

Tancredi is considered to be the master of DollaroPoker, and was arrested in January and accused to be the mastermind of the gambling ring that operated 12,000 gaming that is online lottery video terminals in bars, cafes and gaming halls throughout Italy.

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