M8trix co-owner could lose license

Judge Mary-Margaret Anderson recommended in mid-December that Casino M8trix partner Eric Swallow have his gambling license revoked and suffer a fine of $430,000.

Last year Swallow was accused by the state Attorney General’s Office of hiding casino profits in order to avoid taxes.

In February the judge’s recommendation will be presented to the California Gambling Control Commission for their approval. Swallow told the San Jose Mercury News that he will appeal. “I feel like I’ll be cleared in court,” he said to the Mercury News. “It’s not a level playing field, so I’m looking forward to appealing and going to a real court and clearing my name.”

The Mercury News also reported that, while Swallow intends to “put the charges behind him” he also plans to exit the gaming industry and sell his 50 percent interest in the M8trix to John Park who has an interest in several Northern California cardrooms. “I understand San Jose pretty well and I thought it would be a good fit,” the Mercury News quoted Park as saying.

Peter and Jeanine Lunardi, owners of the other half of Casino M8trix, want to buy Swallow’s interest themselves. The two parties have entered arbitration to resolve the matter.