San Jose's Casino M8trix card room is facing the possibility of losing its gambling licenses after purportedly hiding profits from regulators, according to a report from the San Jose Mercury News. This was said to have been done in an attempt to reduce the gambling establishment's reported income, but could now see Casino M8trix shut down.
The accusation, filed on Friday, May 2, will see the California Gaming Control Commission (CGCC) meet to decide the outcome of Casino M8trix on Thursday, May 29. Part of the decision will be whether or not the CGCC renews the gambling licenses for Casino M8trix.
Although unclear exactly how much money Casino M8trix hid from regulators, it is enough to keep the closing of the casino's doors a very real possibility. "The nuclear option would effectively shut down the cardroom unless they got new ownership," San Jose City Attorney Rick Doyle said in the San Jose Mercury News story. "It reads like revoking the license is definitely on the table."
This isn't the first time the 49-table Casino M8trix card room has been in the news recently regarding legal issues. The venue filed a lawsuit against the city of San Jose that alleged a "long history of unreasonable, harassing and malicious conduct," but that lawsuit was pulled by the casino in February.
For more on this story, please check out the full report from the San Jose Mercury News.