The cryptocurrency tumbled in value (Image: Information Week as Chinese and Dutch authorities forbade their banks from accepting Bitcoins late last week

UPDATED December 18, 2013:

It seems like Tim Poster has indeed filed an appeal regarding his suitability that is recent hearing the Nevada Gaming Commission.

Word is the fact that he is gunning for the reversal in his favor (which may nevertheless keep him unable to obtain an actual gaming permit per se) to ensure that he is able to get back to his former position as chief operating officer of the Wynn Las Las vegas Hotel and Casino on the Strip.

The Nevada Attorney General states Poster will need a simple majority approval from the commissioners if he’s to reverse their prior 3-0 vote that took place on Dec. 4.

He shall have to achieve that with just four of the five commissioners present, as John Moran Jr. will be recused; his son, J.T. Moran III, is acting as one of Poster’s lawyers. Isn’t it ironic.

It’s anticipated that Poster will come back at some of the allegations made against him during the lengthy hearing that took invest Carson City; however the previous Golden Nugget owner will likely have their work cut right out for him combatting issues raised that included concealing evidence and a previous relationship with strip club owner Rick Rizzolo, who is alleged to have Mafia connections.

Without the suitability designation, Poster can only continue being employed as a consultant into the video gaming industry.

Ah, the good ol’ days, when having Mafia hookups in Las Vegas were all you needed to succeed. Those days seem to be long in the rear-view mirror, and now the tables have turned, as regulators everywhere are getting very persnickety about the hint that is slightest of a semblance of a relationship with anyone shady whenever you want in your past if you happen to be seeking casino licensing now.

Of course, we’ve seen evidence that is much of viewpoint in Massachusetts of belated with their regulatory human anatomy, but Nevada commissioners can be in the same way tough whenever they want to be. And unfortunately for previous Golden Nugget owner and Wynn that is presumably soon-to-be-former resorts executive Tim Poster, they wanted become at last week’s suitability hearing regarding him getting a casino license.

Of program , because it ended up, Poster’s so-called connections with mob-related figures had been minimal of his problems.

Not Suitable for Much

Mind you, this hearing had been only to determine suitability, not really an attempt that is actual get a Nevada gaming permit per se. Also it quickly spiraled into a pillorying of sorts for this casino magnate bad boy and his former ‘friends’.

Specifically, the Nevada commissioners were maybe not too stoked up about the 45-year-old Poster’s past interactions with former strip club owner and reported mob affiliate Rick Rizzolo, together with having allegedly concealed pertinent information from the commish, along with his so-called sports wagering on the web, or together with reputed dealings acting as a representative for an unnamed overseas Web sports book.

We are able to hear the stockade clanging shut as we compose this.

Needless to say, along with these controversial dilemmas to deal with, Nevada Control Board member Terry Johnson said the regulators never winner casino kod bonusowy ever even got around to Poster’s alleged tax evasion drama.

You can probably see by now where this really is going.

‘I’m not in favor of this application,’ said Board user Shawn Reid as the hearing relocated along. ‘A withdrawal or a recommendation back to staff doesn’t get it done for me.’

Ouch.

Not Totally Place Out to Pasture

But there had been a slight glimmer of a silver lining on this stormy sky of the meeting: Poster will still be allowed to work in gaming, as long as it’s in some kind of consulting capacity that does not require actual licensing. After all, the Board could have dropped the guillotine and finished his casino profession entirely with an out-and-out denial.

Therefore, now exactly what?

Well, Poster gets the option to appeal the Board’s decision he’s until December 19 to do therefore but as he would then require a unanimous vote to overturn last week’s ruling, it seems unlikely he would submit himself to that particular level of additional humiliation.

Besides, Team Poster has probably already left the building; the Carson City conference showed pretty strong backing from industry luminaries such as for example Ultimate Gaming president Tom Breitling; their business partner Lorenzo Fertitta (whose resume includes dazzling bullet points like buying the Ultimate Fighting Championship, aka UFC, in addition to being co-owner of both Stations Casinos as well as its online existence, UltimatePoker); and former Wynn Resorts Ltd. exec Marc Schorr, among other people. But none of them could save this sinking ship, whom many would say tossed a unique anchor overboard with previous unsavory actions that were bound in the future to light.

Not merely did Poster admit he put unlawful recreations bets with offshore (i.e., unregulated) wagering sites, he place the bullet in their own head by the addition of that he had not recognized there was such a thing wrong with doing so. And just to ensure their regulatory death sentence was guaranteed, he additionally admitted to hefty wagering on sites that were associated with Pinnacle Sports, whose owners had been indicted in New York State in 2012 for unlawful online activities. But wait, it gets worse; some of those indicted were also Wynn and Encore high-rollers during Poster’s tenure being an professional there, which couldn’t have appeared good at all. Poster was hoping to reclaim that working job by moving the suitability choosing; he had a better chance of becoming president for the united states of america in 2016 once it was asserted that at least one of those whales had placed wagers with Poster.

You might think this regulatory hearing couldn’t have gone any further south after that, however it did. Whenever Board member Johnson queried Poster as to whether or otherwise not he thought a gambling was had by him problem, Poster replied, ‘I haven’t stopped gambling since this happened. I enjoy it. It’s something I actually do for recreation. Am I a nagging problem gambler? No. Does it cause problems in my life? No.’

Denial isn’t only a river in Egypt, as they say. Poster admitted to betting $100K on just one single football that is big, and said Pinnacle nevertheless owes him about $800K. We’d suggest maybe not holding your breath on ever seeing that money, Mr. Poster. He even acted as a kind of sports book go-between for friends and sites that are betting getting what he called ‘rebates’ but what many of us would refer to as ‘kickbacks.’

Control Board Chairman A.G. Burnett whom we could only imagine will need to have been stupefied that a man who had worked this high up in the industry could come to be this stupid and naive chided Poster.

‘ At some true point, you should have said to yourself, ‘I shouldn’t be carrying this out,’ ’ Burnett said.

Even Poster’s attorneys could not save yourself him from the gaming firing squad.

‘Tim has made a mistake, an error he admitted to and never shied away from,’ argued lead attorney Mark Clayton. ‘Tim has discovered, and also this is never going to be repeated.’

Actually? Cause it sure doesn’t seem like it.

We could go on, cause there was more, but this is an one-hour soap opera show.