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The South Dakota State Fee on Gaming has revoked the Deadwood playing license held by Gary Aaron King following allegations that he defrauded native universities of greater than $1.4 million.
An investigation concerning King’s suitability to carry a license was launched following the revelation that he had allegedly collected $1.4 million in premiums from universities for insuring athletes towards accidents, however didn’t remit the funds to the insurance coverage corporations. This included premiums for 625 South Dakota athletes,
In line with state gaming legal guidelines, the fee was inside its rights to revoke King’s gaming license as he had didn’t adjust to state legal guidelines. Regulation breaches to not must be associated to gaming for a holder to have their license revoked.
King was an element proprietor of a number of personal corporations that held possession of the Midnight Star on line casino in Deadwood. The fee had not too long ago licensed King in February of 2022 as a director for Rushmore Gaming LLC as a part of the corporate’s sports-wagering software.
The gaming-license investigation got here because of a choice signed on March tenth by state Labor and Regulation Secretary Marcia Hultman. This revoked the resident insurance coverage producer license held by King.
The schools defrauded by King have launched a civil lawsuit to recoup their losses.
Picture credit score: Amy Meredith / CC BY-ND 2.0
Reporter & playing business analyst protecting the land-based and on-line on line casino business in the USA.
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