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Gaming board adopts shelf approval, multiple renewals and other measures in Feb. 20 meeting
Summary
The Louisiana Gaming Control Board approved Caesars' $24 billion shelf application, renewed several riverboat licenses, approved an institutional investor qualification and cleared multiple video-gaming transfers and other motions.
The Louisiana Gaming Control Board adopted a series of resolutions and approved motions on Feb. 20, 2025, including a shelf approval for Caesars Entertainment Inc., renewal of multiple riverboat gaming licenses, approval of an institutional investor qualification and several administrative motions.
Key outcomes at a glance:
- Caesars Entertainment Inc. — Shelf approval of debt transactions up to a cumulative total of $24,000,000,000 for three years, beginning Feb. 20, 2025. The resolution requires Caesars to provide term sheets and executed documents to the State Police Gaming Enforcement Division Audit Section within 10 days of consummation. Motion moved by Judge Scholes and seconded by Miss Becknell; roll call recorded unanimous approval (Becknell yes; Jackson yes; Lewis yes; Poole yes; Hamilton Acker yes; Scholes yes; Traylor yes; Chairman Aber yes). Outcome: resolution adopted.
- Horseshoe Bossier City Casino and Hotel — Amendment to statement of conditions to reduce the hotel requirement to 600 rooms approved; request to narrow required notification of lawsuits denied. Motion moved by Judge Scholes and seconded by Mr. Jackson; roll call unanimous. Outcome: resolution adopted.
- Renewal of riverboat gaming licenses (five-year terms commencing on the dates below) — the board approved the following renewals, each by resolution read into the record and adopted by roll call: - Saint Charles Gaming Company LLC (Horseshoe Lake Charles): renewal effective 03/29/2025. Roll call: Becknell yes; Jackson yes; Lewis yes; Poole yes; Hamilton Acker yes; Scholes no; Traylor yes; Chairman Aber yes. Outcome: renewed. - Belle of Orleans LLC (Amelia Belle Casino): renewal effective 03/24/2025. Roll call: unanimous yes. Outcome: renewed. - Louisiana 1 Gaming, a Louisiana partnership in commendam (BoomTown New Orleans): renewal effective 03/22/2025. Roll call: Becknell yes; Jackson yes; Lewis yes; Poole yes; Hamilton Acker yes; Scholes no; Traylor yes; Chairman Aber yes. Outcome: renewed.
- North Creek Mezzanine Fund 3 LP — The board determined North Creek qualifies as an institutional investor in connection with its 15.417% indirect ownership of Ben Nelson Golf and Utility Vehicles LLC. Motion moved by Miss Hamilton Acker and seconded by Mr. Poole; roll call unanimous. Outcome: approved as institutional investor; board reserved right to investigate if new disqualifying facts arise.
- Video-gaming membership-interest transfers — The board approved transfers of membership interest in two type-5 video-draw poker licensees: - WY Properties LLC (Logansport Truck Stop and Casino): transfer approved (motion by Mr. Jackson, seconded by Ms. Traylor). Outcome: approved. - United Ventures Unlimited LLC (Flashback Casino): transfer approved (motion by Mr. Jackson, seconded by Ms. Becknell). Outcome: approved.
- Settlement in administrative matter — Coffee and Norco LLC (type-2 video draw poker license) agreed to a $750 civil penalty for failure to timely submit its annual licensee form and documents; board approved the settlement (motion by Ms. Becknell, seconded by Judge Scholes). Outcome: approved.
- Appeal of Jokema Budwein — The board remanded the appeal to the hearing officer for consideration of new evidence. Motion moved by Mr. Jackson, seconded by Judge Scholes; no opposition. Outcome: remanded to hearing officer.
Why this matters: The actions move several regulatory matters to completion: the Caesars shelf approval permits the company to enter into certain debt transactions within the approved cap with post-transaction notice; license renewals preserve existing conditions while allowing properties to continue operating; the institutional-investor finding changes the regulatory burden for a passive investment in a supplier permit; and transfers and settlements resolve administrative issues.
Votes and procedure: Some items were adopted by roll call with recorded votes; others were approved by motion and voice vote without a roll call. Approvals that change license conditions or grant shelf authorities include specific reporting or acknowledgment conditions that licensees must satisfy.
