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Thursday, June 28, 2018

Valley Forge Casino Resort Slapped with $50,000 Fine for Awarding Excess Free Slot Play

Casino News Daily
Valley Forge Casino Resort Slapped with $50,000 Fine for Awarding Excess Free Slot Play

The Pennsylvania Gaming Control Board slapped on Wednesday a $52,500 fine on Valley Forge Casino Resort for giving out excessive amounts of free slot play to high-volume customers in the period between 2015 and 2016.

The fine was the result from an investigation conducted by the state gaming regulator’s Bureau of Investigations and Enforcement. Gaming Control Board investigators found that unauthorized employees at the casino awarded free slot play in the period between 2015 and 2016. It was also found that authorized employees awarded free slot play beyond their limits of authorization, thus violating state gaming regulations.

The unauthorized and excess free slot play eventually resulted in the casino awarding amounts higher than the level approved by regulators, as noted by the Gaming Control Board in a Wednesday notice.

The regulator’s probe into the matter found that in 2015 and 2016, unauthorized staff performed 557 complimentary slot play transactions, with those being worth over $4000,000. As many as 170 customers received the comps and 80% of the money were awarded to 20 high-volume players, the Gaming Control Board revealed.

The transactions accounted to less than 10% of the total amount of $5.2 million the casino awarded in free slots play during the period reviewed by state regulators.

The casino said Wednesday that it has agreed to pay the fine. Michel D. Fabius, the lawyer who represented the gambling venue before the Gaming Control Board said that he was confident the transactions were carried out to real customers and there was a real business reason behind those.

Previous Fines

This was not the first time the gaming resort was nabbed by Pennsylvania regulators. Back in 2013, the property received a $200,000 fine after being found that it had offered Dining Club memberships through a special promotion of little or no financial consideration. However, under state gaming regulations, patrons are required to spend at least $10 at a casino complex in order to be admitted to its gaming floor.

It was announced late last year that Las Vegas-based gaming and hospitality company Boyd Gaming would acquire Valley Forge Casino Resort for the total amount of $280.5 million. Located in the King of Prussia, about 20 miles west of Philadelphia, the casino complex became Boyd’s first property in Pennsylvania. The fact that the state is home to the nation’s second largest commercial gaming industry was among the factors that encouraged the company to seek expansion of its footprint there.

The Gaming Control Board gave the nod to the transaction in April. During the hearing before the gaming regulator, the casino’s new owners said that they would look to expand its existing offering with online gambling services. Boyd is no stranger to remote gaming, as prior to selling its 50% stake in Atlantic City’s Borgata, the company had participated in the operation of its online casino.

The post Valley Forge Casino Resort Slapped with $50,000 Fine for Awarding Excess Free Slot Play appeared first on Casino News Daily.

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