The West Virginia Lottery Commission will likely make a decision about The Greenbrier Hotel’s casino license at its next meeting, but discussion will be in a closed session.
The Greenbrier is seeking to get approval of the gaming license following a financial transaction resulting in a change of majority ownership, control and associated board appointments.
The lottery commission next meets August 26. Board members had a conference call today to outline their agenda.
“There probably will be questions and so forth that will arise as it would relate to the activities on the Greenbrier, and I would ask that we hold those questions until the regular meeting,” Lottery Commission Chairman Kenneth Greear said today.
“At that time, go into executive session and discuss any concerns or any things that may arise as a result of those activities.”
Any decision would result in a vote taken in open session.
Senator Jim Justice and his family, owners of the historic resort for more than a decade, announced a half-billion dollar financial deal on Friday with the New York firm Kennedy Lewis Investment Management.
West Virginia Lottery, which has been reviewing the financial deal’s potential effect on the casino, has indicated “the Kennedy Lewis Partnership will acquire 51 percent control of the Greenbrier, a significant change in ownership and control.”
Kennedy Lewis also appears poised to assume a majority of positions on an oversight board of The Greenbrier, with last week’s announcement specifying that Kennedy Lewis has appointed the chairman, Lloyd Nathan.
A letter sent Friday from West Virginia Lottery to Charleston attorney Steve Ruby, who represents The Greenbrier, said the review would be necessary for the casino license under the resort’s new structure.
Acting Lottery Director David Bradley, in that letter, suggested the casino could continue to operate in the meantime.
“You will be in compliance with the law so long as the unapproved board members of the holding company exert no authority over the operations of the casino. And, as a result, the casino can continue to operate prior to the final vote of the Commission,” Bradley wrote last week in the letter.
In that letter, Bradley said the Lottery has continued to evaluate the sufficiency of information provided about the transaction with Greenbrier Hotel Corporation and Kennedy Lewis.
“Despite all that, I expect that we may be in a position to have our review completed in time to include this matter on the agenda for the regular meeting of the Lottery Commission on August 26,” Bradley wrote in the Friday letter.
“I firmly believe that evaluating the financial integrity of all casino licensees is not only appropriate but is one of the Lottery’s chief responsibilities. It is a role my staff and I take very seriously and do not intend to relax it for anyone.”