\nBy HOWARD STUTZ
\n\tLAS VEGAS REVIEW-JOURNAL
\n\tFormer Golden Nugget owner and Wynn Resorts Ltd. executive Tim Poster struck out Wednesday in an attempt to gain a preliminary finding of suitability from Nevada gaming regulators, an initial step toward receiving a full-fledged gaming license.<\/p>\n
\tThe Gaming Control Board spent more than 4 1\/2 hours grilling Poster at a hearing in Carson City over a number of allegations raised by agents in their investigation, including Poster\u2019s past relationship with Rick Rizzolo, a former strip club owner with ties to mob figures; hiding evidence from investigators; illegal sports wagering on the Internet; and an allegation that he was agent for an off-shore Internet sports book.<\/p>\n
\tThe three-person board unanimously rejected Poster\u2019s request.<\/p>\n
\t\u201cThis was originally a look into if you had any dealings with Mr. Rizzolo,\u201d Control Board Chairman A.G. Burnett. \u201cIt turned into something else.\u201d<\/p>\n
\tThe Nevada Gaming Commission, when it meets on Dec. 19, would need to rule unanimously to overturn the control board\u2019s recommendation. The rejection, rather than a denial, allows Poster to still work in the gaming industry as a consultant or in a position that doesn\u2019t require licensing.<\/p>\n
\tControl board member Terry Johnson said he was \u201chaving a tough time believing\u201d Poster had been \u201cplausible and credible\u201d in his answers to the panel\u2019s questions.<\/p>\n
\tPoster, 45, co-owned the Golden Nugget between 2004 and 2005 with longtime friend and business partner Tom Breitling. He was employed by Wynn Resorts for several years and was named chief operating officer for several weeks. Poster was seeking suitability for TP Interactive, his own company. Poster said he has an opportunity to work again with Wynn Resorts if gaming regulators find him suitable.<\/p>\n
\t\u201cTim has been successful in Las Vegas, Tim has given back to the community and Tim wants to continue to contribute to the industry,\u201d attorney Mark Clayton told the control board.<\/p>\n
\tPoster brought along some high level support for the hearing: Breitling, the current chairman of Ultimate Gaming, Station Casinos board member and Ultimate Fighting Championship owner Lorenzo Fertitta, former Wynn Resorts executive Marc Schorr, and Las Vegas advertising executive Sig Rogich.<\/p>\n
\tPoster co-founded Ultimate Gaming with Breitling, but he is no longer associated with the company, which is majority owned by Station Casinos and operates UltimatePoker.com. Poster said he resigned his position with Wynn earlier this year because he didn\u2019t want the suitability investigation to reflect poorly on the company. He left Ultimate Gaming so the company could move forward with its licensing in New Jersey for interactive gaming.<\/p>\n
\tWhen he was licensed as an owner of the Golden Nugget, Poster was given a two-year limitation and admonished to end his relationship with Rizzolo, who was later convicted of tax evasion and spent a year in prison.<\/p>\n
\tPoster said Rizzolo was \u201ca very profitable and sought after casino customer\u201d and he wagered at the downtown resort. However, Poster had an understanding that the limitation didn\u2019t bar Rizzolo from being a Golden Nugget customer and \u201csafeguards\u201d were set up to warn him if Rizzolo was on the property.<\/p>\n
\t\u201cWhen agents asked in 2013 if I had terminated my relationship, I told them I had,\u201d Poster said \u201cI have not been in he company of Mr. Rizzolo in the past nine years.\u201d<\/p>\n
\tClayton said Poster did not hide any additional computers, cell phones and email accounts from investigators. He said Poster\u2019s sports wagering habits should not be used against him. Other Nevada licensees have committed the same offense.<\/p>\n
\tPoster told the control board he did not know it was illegal to make sports wagers on the Internet. He though the law only pertained to the off-shore books. Also, he would bet as much as $100,o00 on football, often on credit.<\/p>\n
\tThe control board members focused heavily on Poster\u2019s wagering habits, including the size of the wagers and the how he included friends into the wagers. Poster admitted he continued to place wagers with off-shore sports books even after he realized the activity was illegal.<\/p>\n
\tJohnson asked Poster why he didn\u2019t reveal that information to those participating in the wagers him.<\/p>\n
\tJohnson also asked Poster if \u201cgambling is something that you struggle with?\u201d Poster said \u201cno.\u201d<\/p>\n
\tControl board members said Poster wagered with Pinnacle Sports, a off-shore sports book currently the center of New York state and federal investigation into illegal online wagering. Owners of Pinnacle were indicted.<\/p>\n
\tControl board member Shawn Reid read the names of some of the 25 people who were indicted in the matter who were associated with Poster and placed wagers with Poster. Reid several of the those indicted visited Wynn Las Vegas and Encore during the time Poster worked there.<\/p>\n
\tAgents were concerned that Poster was an agent for Pinnacle. Poster told the control board he wasn\u2019t a Pinnacle agent.<\/p>\n
\t\u201cNew York law enforcement officers advised Tim that he is not a target nor the subject of investigation regarding the Pinnacle Sports case,\u201d Clayton said.<\/p>\n
\tPoster told the control board he\u2019s owed at least $700,000 to $800,000 by the off-shore sports book.<\/p>\n
\t\u201cI wish I had not done what I did,\u201d Poster said. \u201cI wish I had not bet on the Internet.\u201d<\/p>\n