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Mississippi Gaming Commission Posts Meeting Minutes for April 2019

The Mississippi Gaming Commission held its regular monthly meeting on Thursday, April 18, 2019, at 9:00 a.m. at the Jackson offices 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 Commission approved the issuance of licenses to the following:

  • Gamblit Gaming, LLC as a manufacturer and distributor
  • Stadium Technology Group, LLC as a manufacturer and distributor
  • Roar Digital, LLC as a manufacturer and distributor

FINDINGS OF SUITABILITY

The Commission approved findings of suitability for the following persons and entities:

  • Yasushi Shigeta, Sole Owner of Angel Holdings Godo Kaisha
  • AGL Nevada Corporation to merge with and into Gaming Partners International Corporation
  • Eric J. Meyerhofer, Chief Executive Officer of Gamblit Gaming, LLC
  • William K. Rudat, Chief Financial Officer of Gamblit Gaming, LLC
  • GML, LLC to Receive a Percentage of Gross Gaming Revenue from SW Gaming LLC
  • Lawrence Land Holdings LLC to Receive a Percentage of Gross Gaming Revenue from SW Gaming LLC
  • Lee M. Feldman, Chairman of the Board of Directors of GVC Holdings, PLC
  • Robert G. Hoskin, Director of Compliance, Legal and Company Secretariat of GVC Holdings PLC
  • Guy A. Ossello, Chief Executive Officer and Director of Stadium Technology Group, LLC
  • Ladbrokes Subco, LLC, as a Greater than 5% Shareholder of Stadium Technology Group, LLC
  • Corey I. Sanders, Chief Financial Officer of Beau Rivage Resorts, LLC and MGM Resorts Mississippi, LLC

OTHER APPROVALS

The Commission approved the following:

  • Premier Entertainment Biloxi, LLC d/b/a Hard Rock Hotel & Casino Biloxi received approval for shelf offerings.
  • Gaming Partners International USA, Inc. received approval for the following:
    • Acquisition of Control of Gaming Partners International Corporation and Gaming Partners International USA, Inc.
    • De-registration of Gaming Partners International Corporation as a Publicly Traded Corporation of Gaming Partners International USA, Inc.
    • Registration of Gaming Partners International Corporation as a Holding Company of Gaming Partners International USA, Inc.
    • Registration of Angel Holdings Godo Kaisha as a Holding Company of Gaming Partners International USA, Inc.
  • Grand Casino of Biloxi, LLC d/b/a Harrah’s Gulf Coast, Robinson Property Group LLC d/b/a Horseshoe Casino and Hotel, Tunica Roadhouse LLC d/b/a Tunica Roadhouse Casino & Hotel, and Casino Computer Programming, Inc. received approval for the De-Registration of Hamlet Holdings LLC as a Holding Company
  • Gamblit Gaming, LLC received the following approvals:
    • Registration of Hard 8 Games, LLC as a Holding Company of Gamblit Gaming, LLC
    • Registration of Gamestocks, LLC as a holding Company of Gamblit Gaming, LLC
  • Stadium Technology Group, LLC received the following approvals:
    • Registration of each of Ladbrokes Holdco Inc.; The Ladbrokes Holdco Irrevocable Trust; Ladbrokes Coral Group Limited, and  GVC Holdings (UK) Limited as a Holding Company of Stadium Technology Group, LLC
    • Registration of FVC Holdings PLC as a Publicly Traded Company of Stadium Technology Group, LLC
    • Request for Waiver of Legend Requirement
    • Shelf offering approval
  • Roar Digital, LLC received the following approvals:
    • Registration of each of GVC Holdings (UK) Limited, GVC Holdings (USA) Inc. and MGM Sports & Interactive Gaming, LLC as a Holding Company of Roar Digital, LLC
    • Registration of each of GVC Holdings PLC and MGM Resorts International as a Publicly Traded Corporation of Road Digital, LLC
    • Imposition of Equity Restrictions including Negative Equity Pledges.

PUBLIC COMMENT

Representatives of UNITE HERE Local 23 made comments to the Commission that were critical of certain activities and influence in the gaming industry with respect to investments made by hedge funds and other investors. The representatives provided a letter to the Commission.

© 2019 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