bushman
bushman
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May 20th, 2013 at 12:26:36 PM permalink
A buddy and I were discussing yesterday the closure of the Gold Spike. The question came up as to who obtains, or what becomes of, the gaming license? Who can help me out? Does it stay with the property (i.e. does the new owner automatically obtain the license? That would seem odd.) Or, does it go with the seller of the property? I have tried to find an answer. However, my simple mind can't make heads-nor-tails of what I have found. Thanks in advance.
Never count your winnings at hour 23 of a 24-hour drive.
FleaStiff
FleaStiff
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May 20th, 2013 at 1:11:10 PM permalink
Only approved owners and operators and key executives... the board has to vote and it takes time. Sales of a casino are fine but the buyer either gets preapproved or sits on the sidelines until the board acts. The property may have been sold but the license does not go with it.
bushman
bushman
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May 20th, 2013 at 1:15:24 PM permalink
Quote: FleaStiff

Only approved owners and operators and key executives... the board has to vote and it takes time. Sales of a casino are fine but the buyer either gets preapproved or sits on the sidelines until the board acts. The property may have been sold but the license does not go with it.



Thanks! That certainly makes sense, that a buyer would not automatically "inherit" the license. So, then, it would also seem that if a seller of a casino decided to open a new casino, they would not have to re-apply or await approval of the gaming license, as they have already "passed" that test?
Never count your winnings at hour 23 of a 24-hour drive.
DJTeddyBear
DJTeddyBear
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May 20th, 2013 at 3:44:43 PM permalink
Depending on the situation, United Coin runs temporary slot trailers every two years to keep the license alive.

Ready more about it:
http://www.casinocitytimes.com/article/temporary-casino-to-open-on-moulin-rouge-site-60956
http://www.vegasinc.com/news/2012/jun/19/pop--casino-opens-8-hours-former-moulin-rouge/#/11
I invented a few casino games. Info: http://www.DaveMillerGaming.com/ ————————————————————————————————————— Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁
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