Wednesday, December 20, 2017

Pala Interactive's Jim Ryan Gushes For The Reporters

I would expect that there would be a large Christmas Bonus for Tribal Members since Pala Interactive is doing so well.  Thank you Jim Ryan.  I bet the tribal members of Pala are enjoying the tremendous benefit Pala Interactive is bringing to their lives.

Link to Article:




PNJ: recently celebrated three years in New Jersey’s regulated online gaming space. How would you assess Pala’s performance over those three years?

Jim Ryan: We are proud of our performance. Why I say that is because we entered the market a year after it opened without a brand and without a player database. To any onlooker, we were seen as an underdog.

However, we have quietly built our business and continued to improve our platform and add new games. We have been largely focused on our casino business and the casino offering has upwards of 300 games today. We were only one of two operators to introduce a bingo product and we offer bingo three times a week.

We have a very loyal customer base that comes and plays bingo but, equally importantly, that same customer base enjoys our casino games, so it is a growth driver. With the launch of our poker product in June, we are the only operator in the marketplace that has got casino, bingo and poker.

Equally with poker, which although has very small liquidity, it is already breaking even for us. So, in terms of overall performance, we have come from nowhere and while we certainly aren’t the biggest, we are far from the smallest operator. And in that respect, we are proud of those accomplishments.

PNJ: What about your performance in terms of revenue?

JR: We generally haven’t quoted the size of our business, but we do over $600,000 a month in revenue and we are continuing to grow at a reasonable pace.
Read The Full Article At The Link Above

Potentially up to $100 Million of allegedly borrowed money was invested by "The Tribe" aka Robert Smith.  3 years later the ROI is $600K per month.  What would it be if the money was just put in a savings account?

Tuesday, December 19, 2017

First Rule of Embezzling Money

The First Rule of Embezzling Money from the Tribe is that you have to be a tribal leader imbued with sovereignty in order to avoid charges and jail time. This is where these Mountain Ute went wrong. They should have won (or stole) an election first and then no one would care.

Ute Mountain Ute members accused of stealing from tribe, laundering money through casino

By KIRK MITCHELL | | The Denver Post
December 18, 2017 at 10:02 am

Seven people charged in fraud scheme

The most severe charges were filed against Jaramillo, who was an employee of the Ute Mountain Ute’s financial services department.

She was charged with embezzlement and money laundering. She faces up to 10 years in prison on the embezzlement charge and 20 years in prison on the money laundering charge.

Read full article at link above.

Wow, I wonder who told her to embezzle and money launder or did she do it on her own?

Were the charges brought in order to scare these 7 to see if they rat on bigger fish?  Or is this much ado about nothing?

I don't have an opinion either way.