Latest News
Newport Global Advisors Announces Sale of Mesquite Gaming LLC
Newport Global Advisors LP, a leading middle market manager of opportunistic stressed and distressed credit investment, announced the completion of the sale of Mesquite Gaming LLC. Financial terms of the transaction were not disclosed.
Newport initially invested in the debt securities of Black Gaming in August 2008. In 2011, Newport partnered with Michael Gaughan and Anthony Toti to restructure Black Gaming into Mesquite Gaming. Brendan Gaughan and Kathleen Gaughan Banuelos, together with Anthony Toti, Timothy Janszen, and Ryan Langdon formed a board of directors of the restructured company. After the restructuring, Mesquite Gaming, led by CEO Anthony Toti, significantly grew revenues and operating profits.
Headquartered in Mesquite, NV, Mesquite owns and operates the Casablanca Hotel & Casino and Virgin River Hotel & Casino.
Timothy Janszen, CEO at Newport, said: âWe want to thank Michael and Anthony for their partnership over the last 12 years. This exit represents a terrific accomplishment for the entire team and it could not have been achieved without their deep and unmatched industry expertise.â
âWe could not be happier about the outcome and are delighted to be able to provide a great return to our investors,â Ryan Langdon, Senior Managing Director of Newport, said.
Anthony Toti, former Chairman & CEO, said: âI am proud of our teamâs achievements and the support of Michael Gaughan and Newport. We are thrilled to have delivered such a terrific result.â
Jefferies LLC acted as Financial Advisors and Greenberg Traurig LLP acted as Legal Advisors to Mesquite Gaming LLC.
Latest News
IGT PlaySports Launches Trading Advisory Services in Michigan with Lac Vieux Desert Northern Waters Casino & Resort
International Game Technology announced that its IGT PlaySports Trading Advisory Services Team is now supporting sports betting in Michigan via a new services agreement with the Lac Vieux Desert Northern Waters Casino & Resort in Watersmeet. In addition to now leveraging IGT PlaySportsâ expertise for a range of trading-related services, Northern Waters has powered its sportsbook with IGTâs award-winning platform and self-service betting technology since 2021.
âIGT PlaySports is Northern Watersâs ideal technology and services partner as we roll out the next era of sports betting entertainment to our customers. IGT PlaySportsâ comprehensive, turnkey solution has streamlined our sportsbooks operations and positioned us to more keenly focus on our guests and ensure they have the best possible fan experience,â said John McGeshick, General Manager of Lac Vieux Desert Northern Waters Casino & Resort.
âThe IGT PlaySports team is excited to expand our relationship with Northern Waters to include trading advisory services. In servicing 36 sportsbooks across North America, the IGT Trading Advisory Team is adept at helping operators maximize the returns of their sports betting offerings while enhancing player loyalty and engagement,â Joe Asher, IGT President of Sports Betting, said.
As part of Northern Watersâ sportsbook enhancements, the casino plans to deploy IGTâs PeakBarTop cabinets with Total Gaming software. The award-winning hardware boasts a player-preferred, ergonomic design and gives players the option to enjoy Game King video poker, slots, keno, and sports betting from a single device and a single gaming wallet.
Latest News
NHRA Launches PlayNHRA Initiative to Allow Fans Access to Fantasy Games, Gaming and Betting for NHRA National Events
NHRA announced an exciting and landmark step forward for the company with the launch of PlayNHRA, an innovative new initiative that will provide fans opportunities to engage in fantasy games, gaming, and betting for NHRA Mission Foods Drag Racing Series events.
As part of PlayNHRA, NHRAâs partnerships with leading sports books and fantasy sports providers will enable fans to sign up for free and legally wager on national events and other outcomes in the NHRA Mission Foods Drag Racing Series.
âPlayNHRA marks a huge and significant step forward for the NHRA and its fans. This initiative will provide a destination for fans to enjoy the safest and most regulated place to bet on NHRA drag racing, participate in fantasy games, and engage with our sport in so many new ways,â NHRA Vice President and Chief Development Officer Brad Gerber said.
As part of the PlayNHRA initiative, NHRA has partnered with an industry-leading firm, IC360, to educate employees, race teams and other stakeholders about sports betting and to maintain the integrity of the sport through data intelligence, fraud prevention and monitoring of wagering patterns.
âNHRA is committed to maintaining the integrity of our sport. By partnering with IC360, as well as licensed and regulated sportsbooks and fantasy operators, NHRA will help ensure everyone who engages with PlayNHRA will enjoy a safe and well-regulated betting and gaming environment. This was a vital step in the creation and rollout of PlayNHRA,â NHRA Vice President and General Counsel Alen Cisija said.
Compliance Updates
NIGC Announces Acting Chair
The National Indian Gaming Commission announced the Presidentâs appointment of Associate Commissioner Sharon M. Avery as Acting Chair of the Agency, effective May 15, 2024. Secretary of the Interior Deb Haaland recently appointed Avery to a three-year term as Associate Commissioner, effective May 6, 2024. Avery will serve both as Associate Commissioner and Acting Chair until a presidentially appointed, Senate-confirmed Chair is in place.
As Acting Chair, Avery has the same statutory authority to lead the Agency and take official actions as a Senate-confirmed appointee.
âI am humbled the administration has entrusted me with the distinguished opportunity to serve as the NIGC Acting Chair. In this capacity, and to the best of my abilities, I will diligently execute my duties and responsibilities designated by the Indian Gaming Regulatory Act to continue the Agencyâs regulatory oversight of tribal gaming facilities without disruption, until a permanent Chair has been confirmed,â said Avery.
Avery is an enrolled member of the Saginaw Chippewa Indian Tribe of Michigan. She has been with the NIGC for over four years where she has served as an Associate General Counsel in the NIGC Office of General Counsel. Before joining the NIGC, Avery served for more than 10 years in the legal department for the Saginaw Chippewa Indian Tribe of Michigan. Most recently, she served as the Tribeâs General Counsel for Tribal Operations.
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