AxelWolf
AxelWolf
Joined: Oct 10, 2012
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August 20th, 2014 at 12:05:48 AM permalink
Apparently there are signs referring to this issue.

Whats the NJ laws ? Why is this not enforced in NJ?
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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August 20th, 2014 at 12:20:33 AM permalink
Something about the money wasn't set aside into a separate fund owed to players, so in bankruptcy, they're off the hook.
This was what happened with Atlantic Club anyways.

I'm cloudy in my recollection about normal operations, but otherwise the laws are not so heavily regulated. Lots of history and lots of money never awarded since the regulations were changed. You'll have to look it up.

Showboat on the other hand should get stomped imo since they're just locking everyone out. Nobody has talked about it so I assumed something is going on.
#FreeNATHAN #Paytheslaves
AxelWolf
AxelWolf
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August 20th, 2014 at 4:39:45 AM permalink
Quote: onenickelmiracle

Something about the money wasn't set aside into a separate fund owed to players, so in bankruptcy, they're off the hook.
This was what happened with Atlantic Club anyways.

I'm cloudy in my recollection about normal operations, but otherwise the laws are not so heavily regulated. Lots of history and lots of money never awarded since the regulations were changed. You'll have to look it up.

Showboat on the other hand should get stomped imo since they're just locking everyone out. Nobody has talked about it so I assumed something is going on.

If someone hits a jackpot I assume they must pay and they have the cash to do so?. Gaming should force them to give it out. Players should always be paid first. Its the same as welshing on a future bet. Players gambled as a group and added money with the expectation they eventually would get back the money. No diffident then a lottery not holding a drawing after tickets were all bought. Gaming should be sued for not enforcing them to give back the money rightfully owed to gamblers. Law or not, it should be.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
strictlyAP
strictlyAP
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August 20th, 2014 at 4:47:28 AM permalink
im going to look- there may be a difference in case law between casinos that close due to bankruptcy and casinos that close for other reasons-
i vaguely remembering walking through the atlantic club and noticing a sign about how long you had to cash chips and how short of a period it was
The bet will not be paid- not now not ever
strictlyAP
strictlyAP
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August 20th, 2014 at 4:48:11 AM permalink
i think those progressives were transferrred to tropicana but I cannot be 1000 percent sure
The bet will not be paid- not now not ever
FleaStiff
FleaStiff 
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August 20th, 2014 at 4:57:09 AM permalink
In Nevada, the Gaming Board inspects licensees to make certain that there are separate accounts for slot payments and slot bonuses. One small licensee was fined for having a "cigar box" from which he made routine payments and later entered data into account books.

I can't believe Revel didn''t keep a proper set of books Progressive Accumulated but unpaid bonuses have to be segregated.
mrfrancks
mrfrancks
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August 20th, 2014 at 5:12:04 AM permalink
I looked into the issue of progressive jackpots when the Atlantic Club closed. Under NJ's current casino regulations the casinos can shut down progressive jackpots and not distribute the funds to players or transfer the funds to another machine provided that they provide 30 days posted notice on the machine. In the case of Atlantic Club this was not done. I called NJDGE a week before the Atlantic Club closed and was assured by a spokesperson that they were working with Atlantic Club to distribute progressive jackpots and that information would be available at the casino on the closing weekend. When I went to Atlantic Club on the closing day I was told that the outstanding progressive jackpots would not be distributed. The following week I called NJDGE to follow up and the spokesperson told me that they had changed their minds at the last minute. They weren't very nice about it either - basically said "get lost". Under the current regulations, when progressive jackpots are shut down and not distributed to players, the proceeds are split 50/50 between the casino and the state so there is plenty of incentive for both parties to not distribute progressive jackpots, but not providing 30 days notice is clearly a violation of NJ state regulations.

In my experience, since the NJCCC was stripped of its powers and NJDGE took over, the regulators in NJ have gone from being guard dog to being a lap dog for the industry, and personally I think it has hurt their business.
strictlyAP
strictlyAP
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August 20th, 2014 at 5:39:04 AM permalink
Thanks for the info- much appreciated-
The bet will not be paid- not now not ever
AxelWolf
AxelWolf
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August 20th, 2014 at 5:48:55 AM permalink
Quote: strictlyAP

i think those progressives were transferrred to tropicana but I cannot be 1000 percent sure

It was not, I had someone checking daily. one machine seemed to have extra meat on it but nothing close to what should have been distributed. This could have just been an in house transfer.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
AxelWolf
AxelWolf
Joined: Oct 10, 2012
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August 20th, 2014 at 6:05:17 AM permalink
Quote: mrfrancks

I looked into the issue of progressive jackpots when the Atlantic Club closed. Under NJ's current casino regulations the casinos can shut down progressive jackpots and not distribute the funds to players or transfer the funds to another machine provided that they provide 30 days posted notice on the machine. In the case of Atlantic Club this was not done. I called NJDGE a week before the Atlantic Club closed and was assured by a spokesperson that they were working with Atlantic Club to distribute progressive jackpots and that information would be available at the casino on the closing weekend. When I went to Atlantic Club on the closing day I was told that the outstanding progressive jackpots would not be distributed. The following week I called NJDGE to follow up and the spokesperson told me that they had changed their minds at the last minute. They weren't very nice about it either - basically said "get lost". Under the current regulations, when progressive jackpots are shut down and not distributed to players, the proceeds are split 50/50 between the casino and the state so there is plenty of incentive for both parties to not distribute progressive jackpots, but not providing 30 days notice is clearly a violation of NJ state regulations.

In my experience, since the NJCCC was stripped of its powers and NJDGE took over, the regulators in NJ have gone from being guard dog to being a lap dog for the industry, and personally I think it has hurt their business.

Wow! great information.(total F job) I cant believe some local or gaming publication does not write something on this.

I wonder how long the notices have been posted at revel.

After thinking more about it
I guess the only people who care are APs. Take away card counters and guys only specialize in bunk roulette systems its a very very small percentage of people interested. We would probably find more people who would agree that lem66 is not a welsher.

PS. Bob can teach VP classes there now.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪

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