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New Jersey Governor Chris Christie Calls for Atlantic City Budget Slim Down for Municipal Workers

 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 campaign that is presidential, and therefore the Republican, now in his 2nd gubernatorial term, has more time and energy to refocus their efforts on issues facing their own state.

Nj-new Jersey Governor Chris Christie said enough will do on Thursday, calling on state lawmakers to seize control of the town. He made his instance equipped with colorful graphs showing the overspending that is reckless’s become rampant in Atlantic City.

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

‘Even using the assistance while the advice regarding the Emergency Manager that we applied in 2015, Atlantic City took only modest steps to rein their costs in,’ Christie said at the statehouse this week. ‘They face a $100 million budget shortfall this year, $100 million budget deficit this present year . . . These are the numbers, that is the math, and they are the facts, and there is 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 during the last year that is fiscal a sum which doesn’t even include the ‘Lamborghini-level’ healthcare and benefits package that accompanies those salaries.

Christie also stressed the fact Atlantic City paid $6.6 million in 2015 to retiring employees that are public primarily to compensate unused sick and vacation days. Part-time council people were collectively paid $300,000, an expense seen as extravagant in the optical eyes associated with governor.

Unless their state legislature takes action to provide control of the gambling that is flailing to Trenton, Christie says he lacks the energy to renegotiate contracts with public sector unions getting the ‘exorbitant costs of the city work force in order.’

Takeover could be 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 on a fixed schedule that isn’t determined on property value or gaming profits, which have actually both greatly diminished over the years, as tourism to the area has fallen.

Christie believes the PILOT program is a short-term solution that won’t help Atlantic City’s long-term forecast. Financial analyst outfit Moody’s generally seems to agree.

‘If only the bill that is PILOT [with no other measures instituted], the city continues to face distress since the single bill is insufficient to restore Atlantic City’s fiscal wellness,’ the credit rating corporation said recently. ‘ Even though the PILOT bill produces additional profits and avoids incurring additional casino tax liabilities, it is not enough to avoid crippling deficits of $30 to $40 million a year, within the next five years.’

Christie believes public workers need to step up to the plate within the best interest of their city, but it seems some already are 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’s just one month away, so action will need to be taken, and quickly.

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

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

IGT’s DoubleDown casino that is social back a class action lawsuit effort from the 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 virtual, value-less potato chips in the web site before deciding she wanted to claw back every play cent. Phillips claimed that because DoubleDown uses ‘gambling mechanics’ in its games, it’s tantamount to actual gambling.

Well, except for real money being involved, but besides that.

In a course action lawsuit filed during the Circuit Court of Cook County, Illinois, Phillips said she wanted the DoubleDown web site to down be shut and money refunded to customers in Illinois. The lawsuit had been filed on behalf of all citizens of this 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 gets the right to sue the champion getting the funds right back. It also states that will the losing gambler maybe not sue the more hearts pokies free winner within sixth months, then ‘any person’ is allowed to sue with respect to all losers, for approximately three times the amount.

The law was originally made to protect destitute families who’d had their last dollar stolen by loved ones, which was afterwards gambled away.

Phillips states she started playing on DoubleDown in January of 2013, and soon began purchasing digital (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, along with ILRA, DoubleDown was in violation of the Illinois customer Fraud and Deceptive Business techniques Act, and was guilty of unjustly enriching it self with the use of ‘gambling devices,’ another no-no under Illinois state legislation.

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

Define ‘Gambling’

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 from the results of a gambling proposition. Because virtual chips bought from DoubleDown cannot be cashed in for real money, the social casino site cannot lose any such thing from the idea, and so Phillips was on shaky ground.

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

While spending money on digital potato chips constitutes a stake that is financial with no financial reward involved, no kind of gambling has occurred, by any legal definition, at the very least.

In fact, one could say that Phillip’s choice to sue DoubleDown is a definitely better exemplory case of gambling than something that happens on the social casino site. And in this situation, it was a losing bet.

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

Money laundering is serious company.

Unfortunately for the 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’ cash by trading it in for chips then cashing it out again has become a preferred method of money laundering by crooks. Now FinCEN wants the industry to better monitor itself for prospective crimes being committed by clients, and the problems have actually become global. (Image: i5design.com)

Since 1996, the Financial Crimes Enforcement Network (FinCEN), a bureau associated with United States Department of the Treasury, requires institutions to file Currency Transaction Reports when a customer transacts over $10,000 in a single 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 money.

With thousands of commercial banks in the United States, including smaller institutions that are regional FinCEN is cracking down on cash laundering by threatening non-conforming banking institutions with financial penalties.

Without any choice but to comply with FinCEN, SARs filed by banks rose from 288,343 in 2003 to 972,037 in 2013, a 70 percent increase in just 10 years. Nevertheless, a decline that is unexpected SARs followed in 2014, and along with it arrived a rise in suspicious activity reports being filed by the casino, securities, and insurance coverage companies.

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 quickly closing accounts after filing SARs. This forces the perpetrator that is alleged use alternative methods to move money, and the funds effortlessly vanish from regulatory oversight.

‘What do we do, in the police force arena, as soon as the money goes underground?’ FBI financial crimes specialist 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 percent during the same time frame.

Gambling enterprises Feeling the Heat

FinCEN Director Jennifer Calvery said her office’s 340 workers are successfully safeguarding the united states economic system and promoting nationwide security, and SARs play an important part in those efforts.

‘The information that casinos along with other finance institutions offer 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 penalties that are civil the casino itself.’

And imposing penalties they are, as Calvery’s team levied financial fines on four gambling companies a year ago alone. Such as ended up being the US Dept. of the Treasury’s $8 million penalty on Caesars Palace vegas for what FinCEN found to become 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 through the New York Federal Reserve has shined an even brighter light with this issue that is troubling and you also can bet that regulatory hands around the world are going to be moving in to the casino industry for the closer look.

The list of sites, which investigators 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 web sites was targeted in error. Austria’s SKS365 Group, which operates Planet365, has categorically distanced itself from any involvement, saying that the unlawful group had exploited Planet365’s brand name reputation to lure bettors to copycat web sites.

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

Tancredi Hyper Links

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

Tancredi is thought to be the dog owner of DollaroPoker, and was arrested in January and accused of being the mastermind of a gambling ring that operated 12,000 gaming that is online lottery video terminals in pubs, cafes and gaming halls throughout Italy.