SAN JOSE, Calif. (AP) - California’s attorney general is accusing a San Jose casino of hiding its profits in a tangle of corporate entities.
The accusation against Casino M8trix - filed this month - is now expected to go before an administrative law judge. The casino faces possible fines and the loss of its license.
Casino spokesman Sean Kali-rai told the San Jose Mercury News (https://bit.ly/1iYM2ZG) the charges are unfounded and the legal process will show that.
The 33-page accusation says Casino M8trix funneled its proceeds to limited liability companies, reporting essentially no net income in three out of four years between 2009 and 2012. The attorney general’s office says the practice shortchanged a gambling-addiction program the city requires card rooms to fund.
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