The Indiana gambling body that is regulatory moving to permanently revoke the gaming license held by casino mogul Rod Ratcliff amid an ongoing state probe into alleged unethical behavior associated with his past business endeavors.
At the beginning of the week, the legal representatives of the Indiana Gaming Commission submitted a petition for permanent license revocation to a Lake County Superior Court. The move came as part of the lawsuit filed by Mr. Ratcliff in against the state’s gambling watchdog january. Based on brand new claims contained in the petition, Mr. Ratcliff utilized their casino business to transfer about $* that is 900,000( to fund horse racing bets with personal accounts from 2015 to 2019.
According to information included in the petition, the funds were transferred to at least one FastBet account in Ratcliff’s name. The gambling regulator claims that the funds were transferred from the track’ casinos by using a “marketing other” category during the period that is four-year.
The Indiana Gaming Commission claims that Ratcliff had been likely to have supplied these details at that time as he sent applications for the license that is now-controversial 2018. As CasinoGamesPro has already revealed, some Centaur Gaming executives, where Ratcliff acted as CEO and Chairman, took part in a scheme to illegally make money donations to a Congressional candidate’s campaign that is political.
Ratcliff’s Gambling License Temporarily Suspended on December 23rd, 2020
The casino magnate’s gambling permit had been temporarily suspended throughout the Commission’s conference on December 23rd, 2020. The businessman have not faced any fees into the abovementioned instance nevertheless the regulator’s detectives think it had been Ratcliff whom came across with a campaign consultant to prepare the scheme that is entire.
For the time being, the regulator refused to comment on the pending action that is legal. Mr. Ratcliff’s spokesperson shared he could be reviewing the petition.
The emergency order that temporarily suspended their permit in December year that is last forced Mr. Ratcliff to dispose of his shares in the Hard Rock Casino Gary that is being developed by his company Spectacle Entertainment.
In response, the businessman has taken the Indiana Gaming Commission to court, claiming he was given no notice, no process, or a hearing before his license was suspended. The lawsuit also claims that the action stipped him of any chances to sell the shares that are aforementioned his or her own terms.
On its component, the Gaming Commission’s petition claims that the body’s that is regulatory indicates Mr. Ratcliff had breached laws by giving false information, hiding conduct that violated video gaming foibles regarding the state and refusing to meet up with with representatives regarding the watchdog on two occasions.
As compiled by the watchdog in its petition, Ratcliff is no longer considered suitable to keep a casino permit in Indiana and some of the problems revealed into the petition, separately, should lead to revocation of their permit.
The regulator’s petition might have to be evaluated by the Indiana workplace of Administrative Law Proceedings that’s the human anatomy that guidelines on agency disputes. The ongoing research places the casino permit held by Mr. Ratcliff in danger but also postpones the transfer of assets through the riverboat facilities of Majestic Star to your $300-million complex Rock Casino Northern Indiana.