San Jose's Casino M8trix Card Room license could be in jeopardy

According to a report by the San Jose Mercury News San Jose's Casino M8trix card room has purportedly hidden profits from regulators. The consequences of that action could be extreme because the establishment's gambling license could be lost and the Casino M8trix closed. The bottom line is that Casino M8trix was trying to reduce the income reported for gambling profits.

Friday, May 2nd, was the day the accusation was filed and on Thursday, May 29th, the California Gaming Control Commission (CGCC) will meet to decide the fate of Casino M8trix. One of the most crucial parts of the meeting will be if the decision is made by the CGCC to renew the gambling licenses for Casino M8trix.

At this time, it is known that closing the casino's doors is a very real possibility but the amount of money hidden from regulators by Casino M8trix hasn't been released. "The nuclear option would effectively shut down the cardroom unless they got new ownership," San Jose City Attorney Rick Doyle said in the report from the San Jose Mercury News. "It reads like revoking the license is definitely on the table."

Another legal issue hit the news recently concerning the casino but that particular incident was due to the 49-table Casino M8trix card room filing a lawsuit where the city of San Jose was the defendant. The lawsuit alleged a "long history of unreasonable, harassing and malicious conduct," but the casino pulled the lawsuit in February.

For the full report, head over to the San Jose Mercury News.