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West Virginia Lottery reviews Kennedy Lewis control proposal at Greenbrier casino

Regulation

The West Virginia Lottery is reviewing Kennedy Lewis Investment Management’s proposed controlling interest in the Greenbrier casino in West Virginia. The Greenbrier said it planned to close its Casino Club on 14 August while pursuing a $500 million refinancing, which would give Kennedy Lewis a 51% stake in a new parent company. The Lottery said it needed time to assess suitability and disputed the resort’s claim that the regulator had delayed the deal.

The outcome of the suitability review could affect the casino’s ownership and the resort’s proposed refinancing.

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Regulation

Nebraska voters reject measures to legalise statewide online sports betting

Nebraska voters rejected ballot measures that would have authorised statewide online sports betting and established rules for racetrack casinos and sportsbook partners, according to the report. The proposed tax rate was 20%, with about 70% of the revenue earmarked for property tax relief; supporters had raised nearly $22m by October.

Voters in Nebraska turned down a plan to launch sports betting online across the state, a blow to a campaign supported by sportsbooks and racetrack operators. Legal wagering there stays restricted to bets placed in person at racetrack casinos, so a statewide mobile launch is not expected soon.

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