{"id":60684,"date":"2017-10-12T16:00:08","date_gmt":"2017-10-12T23:00:08","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=60684"},"modified":"2017-10-12T16:10:58","modified_gmt":"2017-10-12T23:10:58","slug":"bettor-racing-loses-spat-nigc-tribal-casino-goes-liquidation","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/bettor-racing-loses-spat-nigc-tribal-casino-goes-liquidation\/","title":{"rendered":"Bettor Racing Loses Spat with NIGC and Tribal Casino, Goes into Liquidation"},"content":{"rendered":"<p>Bettor Racing Inc, the South-Dakota-based advance deposit wagering (AWD) and off-track betting operator, has filed for Chapter 7 bankruptcy (liquidation) after losing its fight with the <a href=\"https:\/\/www.casino.org\/news\/native-american-tribal-gaming-sector-generates-strongest-revenue-growth-decade\">National Indian Gaming Commission<\/a> (NIGC), prompting fears among its customers over the safety of their funds.<\/p>\n<figure id=\"attachment_60730\" aria-describedby=\"caption-attachment-60730\" data-style=\"width: 710px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-60730\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/10\/exterior.jpg\" alt=\"Bettor Racing Goes Into Liquidation\" width=\"710\" height=\"315\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/10\/exterior.jpg 710w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/10\/exterior-142x63.jpg 142w\" sizes=\"(max-width: 710px) 100vw, 710px\" \/><figcaption  id=\"caption-attachment-60730\"class=\"text-description\">The Royal River Casino, owned by the Flandreau Santee Sioux Tribe, where Gallo\u2019s Bettor Racing offered advance deposit wagering and off-track betting until things turned sour. (Image: Royal River Casino)<\/figcaption><\/figure>\n<p>The company mainly dealt with high-end customers and so the amount of money owed could be substantial. Bettor Racing cited over $11.8 million in liabilities and less than $1.5 million in assets in documents filed to the bankruptcy courts.<\/p>\n<p>This debt does not cover the sum owed to its paying customers; it\u2019s the amount it must pay NIGC and the Flandreau Santee Sioux Tribe, having lost its longstanding legal battle against the regulator and tribal operator.<\/p>\n<h2><strong>IGRA Violation<\/strong><\/h2>\n<p>Bettor Racing began its relationship with the Flandreau Santee Sioux in 2004, offering ADW at its Royal River Casino. The tribe offered a beneficial pari-mutuel tax rate, but when South Dakota lowered the rate across the board, Royal River no longer offered a USP, and Bettor Racing owner\u00a0Randy Gallo\u00a0announced he would move the ADW business out of the casino to pastures new.<\/p>\n<p>The tribe tweaked Bettor Racing\u2019s original contract in a bid to convince the operator to stay, but in doing so, it ran afoul of NIGC, which neither approved the amended contract nor authorized the tribe to approve such a deal.<\/p>\n<p>Both parties were in violation of the Indian Gaming Regulation Act and so NIGC hit Bettor Racing with a $5 million fine and ordered it to pay the Flandreau Santee Sioux an additional $4.5 million.<\/p>\n<h2><strong>Gallo Won\u2019t Welch<\/strong><\/h2>\n<p>But Gallo, who in the meantime been approved by the <a href=\"https:\/\/www.casino.org\/news\/kevin-costner-closes-deadwood-casino-after-26-years\">South Dakota Gaming Commission<\/a> for a license for his new betting venture, South Dakota OTB, has vowed that all of Bettor Racing\u2019s customers will be paid.<\/p>\n<p>\u201cThey will get paid 100 percent,\u201d Gallo said of Bettor Racing&#8217;s customers. \u201cI&#8217;ve been in this business insured up to $10,000 per account. Anything over that I am going to make good. I have never cheated anyone a dime in my life.\u201d<\/p>\n<p>Gallo will not be permitted to launch his new venture until he has fulfilled this obligation to his former customers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bettor Racing Inc, the South-Dakota-based advance deposit wagering (AWD) and off-track betting operator, has filed for Chapter 7 bankruptcy (liquidation) after losing its fight with the National Indian Gaming Commission (NIGC), prompting fears among its customers over the safety of their funds. The company mainly dealt with high-end customers and so the amount of money [&hellip;]<\/p>\n","protected":false},"author":42,"featured_media":60730,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,13],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bettor Racing Loses Spat with NIGC and Tribal Casino, Goes into Liquidation<\/title>\n<meta name=\"description\" content=\"Bettor Racing of South Dakota has lost its legal battle with the NIGC and Flandreau Santee Sioux and goes into bankruptcy, but it vows players will be paid.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bettor Racing Loses Spat with NIGC and Tribal Casino, Goes into Liquidation\" \/>\n<meta property=\"og:description\" content=\"Bettor Racing of South Dakota has lost its legal battle with the NIGC and Flandreau Santee Sioux and goes into bankruptcy, but it vows players will be paid.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/bettor-racing-loses-spat-nigc-tribal-casino-goes-liquidation\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-10-12T23:00:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-10-12T23:10:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/10\/exterior.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"710\" \/>\n\t<meta property=\"og:image:height\" content=\"315\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/bettor-racing-loses-spat-nigc-tribal-casino-goes-liquidation\/\",\"url\":\"https:\/\/www.casino.org\/news\/bettor-racing-loses-spat-nigc-tribal-casino-goes-liquidation\/\",\"name\":\"Bettor Racing Loses Spat with NIGC and Tribal Casino, Goes into Liquidation\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/bettor-racing-loses-spat-nigc-tribal-casino-goes-liquidation\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/bettor-racing-loses-spat-nigc-tribal-casino-goes-liquidation\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/10\/exterior.jpg\",\"datePublished\":\"2017-10-12T23:00:08+00:00\",\"dateModified\":\"2017-10-12T23:10:58+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Bettor Racing of South Dakota has lost its legal battle with the NIGC and Flandreau Santee Sioux and goes into bankruptcy, but it vows players will be paid.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/bettor-racing-loses-spat-nigc-tribal-casino-goes-liquidation\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/bettor-racing-loses-spat-nigc-tribal-casino-goes-liquidation\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/bettor-racing-loses-spat-nigc-tribal-casino-goes-liquidation\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/10\/exterior.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/10\/exterior.jpg\",\"width\":710,\"height\":315,\"caption\":\"The Royal River Casino, owned by the Flandreau Santee Sioux Tribe, where Gallo\u2019s Bettor Racing offered advance deposit wagering and off-track betting until things turned sour. 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