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Gulf States Gaming Law

COMMISSION MEETING: December 21, 2017

The Mississippi Gaming Commission held its regular monthly meeting on Thursday, December 21, 2017, at 9:00 a.m. in the Jackson office of the Mississippi Gaming Commission. Executive Director Allen Godfrey, Chairman Al Hopkins, and Commissioners Jerry Griffith and Tom Gresham were in attendance. The following matters were considered:

LICENSING

The Mississippi Gaming Commission approved the following licenses and permits:

  • Nick Farley and Associates, d/b/a Eclipse Compliance Testing was granted a permit as an Independent Testing Laboratory.
  • AP Gaming Holdco, Inc., the registered publicly traded corporation for AGS LLC has changed its name to PlayAGS, Inc.

FINDINGS OF SUITABILITY

The Mississippi Gaming Commission approved findings of suitability for the following persons:

  • Daniel J. D’Arrigo, Executive Vice President, Chief Financial Officer and Treasurer, MGM Resorts International, Inc.
  • Michael F. Whitemaine, Senior Vice President of Regional Operations of Eldorado Resorts, Inc.
  • Victor J. Gallo, General Counsel, Compliance Officer and Secretary of AGS LLC
  • Gregg P. Schatzman, Chairman, Compliance Committee of AGS, LLC

OTHER APPROVALS

  • SW Gaming LLC d/b/a Harlow’s Casino Resort & Spa and Magnolia Hill, LLC d/b/a Riverwalk Casino Hotel received the following approvals in connection with a financing:
    • Pledges of Equity Interests or Securities
    • Imposition of Equity Restrictions including Negative Equity Pledges
  • AGS, LLC received the following approvals in connection with a possible public offering:
    • Approval of Public Offering of PlayAGS, Inc.
    • Approval of Waiver of Legend Requirement
    • Continuous Approval of Public Offerings and/or Private Placements
    • Pledges of Equity Interests or Securities
    • Imposition of Equity Restrictions including Negative Equity Pledges
    • Guarantee of Securities and Hypothecation of Assets
  • Natchez Casino OpCo, LLC d/b/a Magnolia Bluffs Casino received the following approvals in connection with a financing:
    • Transfer of the Equity Interests or Securities of Casino Holding Investment Partners, LLC
    • Issuance of Equity Interests or Securities of Casino Holding Investment Partners, LLC
    • Pledges of Equity Interests or Securities
    • Imposition of Equity Restrictions including Negative Equity Pledges

WORK PERMITS

The Commission approved the recommendation of the Executive Director to accept the hearing officer’s decision to revoke the work permit of John Bogner.

PUBLIC COMMENTS 

None.

The next regular meeting of the Mississippi Gaming Commission will be held on Thursday, January 25, 2018, at the Jackson offices of the Mississippi Gaming Commission beginning at 9:00 a.m. The deadline for submission of agenda items for this meeting is December 29, 2017.

© 2018 Jones Walker LLP

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About this Author

Thomas Shepherd, Gaming Attorney, IAGA President, 2014, Jones Walker Law FIrm
Partner

Tommy Shepherd is a partner in the firm’s Business and Commercial Transactions Practice Group. As an accomplished gaming attorney, he served as President of the International Association of Gaming Advisors (IAGA) in 2014.

Tommy represents major casino companies, Native American tribes, manufacturers, suppliers, and financial institutions regarding all matters relating to the development, financing, licensing and operation of gaming and resort facilities. His extensive experience in such matters includes public-private leases, financings, land use approvals, statutory and regulatory...

601.949.4711
Chris Pace, Business, Commercial Transactions Attorney, Jones Walker Law FIrm
Partner

Chris Pace is an attorney in the firm's Business & Commercial Transactions Practice Group and practices from the firm's Jackson office. He concentrates his practice in the areas of project finance and economic development law, state and local government law, economic development incentives and gaming law.

His clients include both county and municipal governmental bodies, as well as new and expanding business concerns such as a large steel company investing over $1 billion in a new facility, and a new regional beverage supplier investing millions of dollars to expand its existing operations. Mr. Pace has negotiated and documented various economic incentives including property, sales, use, income, and franchise tax incentives, and other incentives related to tax exempt and taxable bond financing. In the course of his work, he has assisted clients in negotiating and implementing incentives with the Mississippi Development Authority, the Mississippi Department of Revenue, and other state and local governmental entities. Mr. Pace has also negotiated and implemented economic incentives with numerous county and city governments, including the implementation of complex fee-in-lieu of property tax agreements which are available only for projects involving investments of $100 million or more.

601.949.4839