5 Formerly High Profile Casinos That Lost Their Licenses

5 Formerly High Profile Casinos That Lost Their Licenses: Casinos and online wagering have gained their fame over the past years as a way of earning side money. This practice has also become a passive income to others. However, it is such a risk to depend on casinos without rightful licensing highly.

Operating without the appropriate license may cause you problems with the law. If a company is licensed, the players will feel secured, and the money will be protected too.

5 Formerly High Profile Casinos That Lost Their Licenses

Some casinos have lost their licenses for varying reasons. Surprisingly, most of these casinos still opt to operate. This is probably because although their licenses have been revoked, their verdict is yet to be read. The gaming regulators and commissioners grant the operation as they continue with their investigations.

Learning whether a company has any reputable license can be difficult for you, especially if you lack that information. The purpose of the article is to mention the five high profile casinos that lost their licenses and keep you on the safe side of the law.

Swedish Ninja Casino

Ninja Casino’s parent company has had its Swedish online wagering licenses withdrawn. This was after government officials deemed the company’s collective responsibility and anti-money-laundering procedures to be unsatisfactory. In other words, the license was yanked due to critical shortcomings and money laundering from the company.

According to OnlineCasinoGems, the whole gaming supervisor assessment of Swedish Ninja Casino showed that SafeEnt breached several of the most crucial sections of the game law. These are supposed to protect the players against extreme gambling.

SafeEnt was also presenting lottery games that were not protected by its license and were, therefore, illegal.

The license was revoked with immediate effect, leaving the company with no right to serve its customers or to exercise its duty of care. The regulator claimed that the company’s procedures could undesirably affect both current and future customers if authorized to carry on with their services.

Tropicana Casino

A parent company of the Tropicana Casino and Resort also lost its license to Eldorado due to the risk of filing for bankruptcy. The company was unable to file for an appeal and could not overturn the denial of its casino license or work out a new deal with its creditors.

However, the casino control commission was said to have approved the Tropicana deal. The license was approved to Eldorado as the new parent company of Tropicana Atlantic City.

Wynn Resort Casino

The Wynn resort was initially owned by Steve Wynn based in Las Vegas. Wynn Resorts had a legit gaming license that was granted by the gaming commission in 2014. However, the license was revoked following a sexual-misconduct scandal that came to light, which forced Steve Wynn, the company’s chairman, to resign.

The gaming commissioner, according to CNBC, set an adjudicatory hearing to re-investigate Wynn Resorts and the reasons it was suitable for license renewal. The hearing was arranged to be heard publicly at the Boston Convention and Exhibition Center, where the commissions were to offer a written decision.

The regulators allowed the casino operator to keep the license for its new $2.6 billion casino near Boston. It was due to open in June 2019.

Gold Rush Gaming

The regulators revoked the Rick Heidner gaming license, who owned and operated the Gold Rush Gaming. This was caused due to the illegal inducement, as Rick offered $5 million to a wagering store chain vendor.

According to CBS Chicago, Rick Heidner, who has gained his popularity through video gambling had Gold Rush Gaming machines detached. Laredo Endeavors later took space. That meant that the license was yanked immediately, followed by the grievances.

Rick, the Gold Rush Owner, is, however, not taking the defeat without a fight. He tried to buy off the license from the company that took over.

However, government wagering law says that it’s a crime to give something that has worth to an institution as an enticement or stimulus to trace video wagering places in that institution. For that reason, Rick is being charged.

Region C Casino

The Region C Casino license was continuously revoked due to over saturation and political in-fighting. The casino was created eight years ago, and since then, casino license for the southeastern province remains unspoken for.

The gaming commission has denied a mass gaming and entertainment proposal where the Region C Casino is at. They are more so, looking for public participation in Region C before determining whether to re-open tendering for the region.

The battle does not end there, report on the Mashpee Wampanoag Tribe’s claims to build a casino. They referenced different pursuits struggling for a chance to fill the void in Region C.

They claim that the proprietary research shows an oversaturated market, but still they decided to organize their investigation. Casino analysts, however, say that the state shouldn’t rush to issue the license in a different place.

Upshot

As read above, no casino whose license has been yanked due to different circumstances, is going down without a fight. That is the reason you might have seen them operating. A good example, according to BBC, they changed the stolen cash into chips, as their hearing is still not yet decided on.

However, following the cases provided, it will be of great help if you are cautious before taking and risking your money. A quick tip from us: always know the legal license of the casino you want to invest your time and money with, to avoid future misfortunes.

We hope that this article has been of great help to you and that you have learned something different from the piece. Bookmark us and get to learn more about casinos and their operating licenses. We would also love to hear your views on this and be glad to know your experiences.

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