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Nevada approves Blueberry Gaming licences after probing responsiveness, imposes four-year limits on two Catalyst principals
Summary
The Nevada Gaming Commission granted licensure and suitability findings to Blueberry Gaming USA and associated Catalyst Capital principals after extended review, imposing a four-year limitation on two controlling shareholders and conditions including a $50,000 investigative revolving fund.
The Nevada Gaming Commission on Sept. 25 approved a suite of license and suitability applications for Blueberry Gaming USA and related entities, finding the company fit to operate in Nevada but placing a four-year limitation on two Catalyst Capital principals and requiring a $50,000 revolving fund for investigative review.
Blueberry Gaming USA and its private-investment holding companies won approval after commissioners and state investigators examined the firm's responsiveness to regulatory inquiries, governance structure and financing. The commission adopted conditions recommended by the Gaming Control Board that limit certain individual approvals and require Blueberry Canada to fund an investigative revolving account with the board.
The decision closes a lengthy approval process that included an earlier hearing before the Gaming Control Board. Catalyst Capital Group, a Toronto-based private equity firm and majority investor in Blueberry's parent entities, and executives from Blueberry appeared in Las Vegas to answer commissioners’ questions about past delays in the licensing investigation, company governance and financing.
Newton Glas…
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