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Four Aces Casino to Appeal $25K Fine and Licence Suspension

Four Aces Casino to Appeal $25K Fine and Licence Suspension

A Deadwood casino in South Dakota is being punished by the state’s Commission on Gaming for failing to provide acceptable revenue reports for the last five years.

Four Aces Casino to Appeal $25K Fine and License Suspension

The Four Aces Casino has said it will appeal against the South Dakota Commission on Gaming’s punishment.

The group has fined the Four Aces Casino $25,000 and suspended the business’s gambling license for 15 days from December 2nd. According to Executive Secretary Larry Eliason it is the largest penalty he can remember being given in his two decades with the commission.
The commission says that the casino has failed to provide accurate, complete and legible revenue reports since 2008.
Steve Comer, the casino’s CFO, said that the reporting errors were due to changing state reporting requirements and problems with the casino’s out of date software. He said that the casino has hired a consultant to help address the problem.

The Four Aces’ owners are planning to appeal to a circuit court. The casino’s General Manager Tony Sieber has said that the penalties are “exceptionally harsh” and could threaten as much as 100 jobs over the Christmas period.

Seiber said, “The punishment doesn’t fit the crime. I don’t want to disrespect the Commission in any way, but it comes back to the accuracy of the reports and no one had ever contested that revenues were reported correctly.”

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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