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Minutes of the Mississippi Gaming Commission September 23, 1999 Page 1 Minutes of the Mississippi Gaming Commission September 23, 1999 Page 1 MINUTES OF THE MISSISSIPPI GAMING COMMISSION Regular Monthly Meeting September 23, 1999 The regular monthly meeting of the Mississippi Gaming Commission was held at 9:00 a.m., Thursday, September 23, 1999, in the Stuart C. Irby, Jr. Conference Room at the Mississippi Gaming Commission, Jackson, Mississippi. Staff attending: W. W. Gresham, Jr. Chairman, MS Gaming Commission Victor P. Smith, Commissioner, MS Gaming Commission Chuck Patton, Executive Director, MS Gaming Commission Larry Gregory, Deputy Director, MS Gaming Commission Mick Lura, Chief of Staff, MS Gaming Commission Charlene Pierce, Special Assistant Attorney General, Attorney General's Office Gary McGee, Director of Enforcement, MS Gaming Commission J. Ledbetter, Chief of Investigations, MS Gaming Commission Brenda Redfern, Director of Compliance, MS Gaming Commission Pam Carnathan, Assistant Division Director of Compliance, MS Gaming Commission Leigh Ann Cappaert, Administrative Assistant, MS Gaming Commission Teresa Tucker, Sr. Legal Secretary, Attorney General=s Office Chairman W. W. Gresham, Jr. presided and called the meeting to order at 9:00 a.m. Chairman Gresham stated that Commissioner Robert Engram was not present at today’s meeting because of a prior business engagement. Chuck Patton, Executive Director, announced the date for the October meeting would be October 18, 1999 at the Grand Casino, Oasis – Gulfport. Brenda Redfern, Director of Compliance, was introduced and welcomed to the Commission. ITEM I. Commissioner Victor Smith gave the invocation. Minutes of the Mississippi Gaming Commission September 23, 1999 Page 2 ITEM II. APPROVAL OF MINUTES A. August 19, 1999 EXECUTIVE DIRECTOR'S RECOMMENDATION: "The Executive Director recommends that the minutes of the August 19, 1999, meeting be adopted." Commissioner Smith: Move to adopt recommendation Chairman Gresham: Second RECORDED VOTE: Chairman Gresham: YES Commissioner Smith: YES ITEM IV. GAMING MATTERS A. ANNOUNCEMENT OF QUARTERLY MEETING BETWEEN MISSISSIPPI GAMING COMMISSION AND CHOCTAW GAMING COMMISSION The Compact between the State of Mississippi and the Choctaw Tribe requires quarterly meetings between the Mississippi Gaming Commission and the Choctaw Gaming Commission. This quarter’s meeting was held in conjunction with the September Gaming Commission meeting. Chairman Eddie Gibson and Commissioner Tom Benn were present. No recommendation necessary. B. RECOMMENDATION FOR LICENSURE – HWCC - Tunica d/b/a Hollywood Casino Sam Begley, with Maxey, Wann, Begley & Fyke, came forward. Also present were Ed Kraft and John Osborne. EXECUTIVE DIRECTOR'S RECOMMENDATION: “With past Commission action, key principals of the company have been found suitable. The Executive Director recommends that they be granted an operator’s license to conduct business in the State of Mississippi subject to the following conditions: Minutes of the Mississippi Gaming Commission September 23, 1999 Page 3 1) The license will be issued for a two-year period, beginning October 19, 1999; 2) Licensee will comply with all federal and state laws, including the laws of Mississippi and particularly the Mississippi Gaming Control Act; 3) Licensee will comply with all the policies, rules and regulations adopted by the Mississippi Gaming Commission; 4) Licensee will comply with and does hereby agree to be bound by all laws, including the Gaming Control Act, of the State of Mississippi; further, licensee agrees to adjudicate all legal proceedings (both state and federal) relative to said license, in the courts located in the state of Mississippi; 5) Licensee must comply with the definition of navigable waters in §27- 109-1 of the Miss. Code of 1972, as amended; and 6) Pending the results of background agency checks of key principals.” Commissioner Smith: Move to adopt recommendation Chairman Gresham: Second RECORDED VOTE: Chairman Gresham: YES Commissioner Smith: YES C. APPLICATION FOR FINDING OF SUITABILITY- Bally Gaming, Inc. and Rainbow Casino Vicksburg Partnership, L.P. d/b/a Rainbow Casino 1. Mr. David Duane Johnson (Updated) Senior Vice President, Secretary and General Counsel – Alliance Gaming Corp.; Secretary and Director – Bally Gaming International, Inc.; Secretary and Director – Bally Gaming, Inc.; and Secretary and Director – United Gaming Rainbow. Tommy Shepherd, with Watkins, Ludlam, Winter & Stennis, came forward to introduce David Duane Johnson to the Commission. Minutes of the Mississippi Gaming Commission September 23, 1999 Page 4 EXECUTIVE DIRECTOR'S RECOMMENDATION: “Based upon the investigative reports, the Executive Director recommends that Mr. David Duane Johnson be found suitable to be associated with a gaming license granted under the Mississippi Gaming Control Act.” Commissioner Smith: Move to adopt recommendation Chairman Gresham: Second RECORDED VOTE: Chairman Gresham: YES Commissioner Smith: YES D. REQUEST FOR APPROVAL OF LIMITED SOFT OPENING – Rainbow Casino Vicksburg Partnership, L.P. d/b/a Rainbow Casino Tommy Shepherd, with Watkins, Ludlam, Winter & Stennis, and David D. Johnson, were present. Mr. Johnson stated that they broke ground in May and expected to be completed by the last of October for a November 1, 1999 opening. EXECUTIVE DIRECTOR'S RECOMMENDATION: “The Executive Director recommends that, subject to a final inspection by the Executive Director of the Mississippi Gaming Commission, the company be authorized to conduct a limited “soft” opening and subject to meeting all requirements of the Mississippi Gaming Commission, be allowed to open permanently.” Commissioner Smith: Move to adopt recommendation Chairman Gresham: Second RECORDED VOTE: Chairman Gresham: YES Commissioner Smith: YES E. APPLICATION FOR FINDING OF SUITABILITY- Bally’s Olympia Limited Partnership d/b/a Bally’s Saloon and Gambling Hall, Grand Casinos of Mississippi, LLC – Gulfport, Grand Casinos of Mississippi, Inc. – Biloxi and BL Development Corp. d/b/a Grand Casino - Tunica 1. Mr. Mark Ranne Dodson (Initial) Executive Vice President - Park Place Entertainment Tommy Shepherd, with Watkins, Ludlam, Winter & Stennis, came forward to introduce Mark Ranne Dodson to the Commission. Minutes of the Mississippi Gaming Commission September 23, 1999 Page 5 EXECUTIVE DIRECTOR'S RECOMMENDATION: “Based upon the investigative reports, the Executive Director recommends that Mr. Mark Ranne Dodson be found suitable to be associated with a gaming license granted under the Mississippi Gaming Control Act.” Commissioner Smith: Move to adopt recommendation Chairman Gresham: Second RECORDED VOTE: Chairman Gresham: YES Commissioner Smith: YES F. REQUEST FOR CONTINUOUS APPROVAL OF PUBLIC OFFERINGS AND PRIVATE PLACEMENTS – Bally’s Olympia Limited Partnership d/b/a Bally’s Saloon and Gambling Hall, Grand Casinos of Mississippi, LLC – Gulfport, Grand Casinos of Mississippi, Inc. – Biloxi and BL Development Corp. d/b/a Grand Casino - Tunica Tommy Shepherd, with Watkins, Ludlam, Winter & Stennis, was present. EXECUTIVE DIRECTOR'S RECOMMENDATION: “The Executive Director recommends that the Mississippi Gaming Commission exempt Park Place Entertainment Corporation, a publicly traded corporation, from the requirement to obtain prior approval of continuous public offerings and/or private placements of its securities for a period of two years. The Mississippi Gaming Commission grants the Executive Director the power to issue an interlocutory stop order. An application for approval shall be submitted two weeks prior to any public offering and/or private placement of any securities of Park Place Entertainment Corporation of which the proceeds are to be used as defined in Regulation II.H.6.b. of the Mississippi Gaming Commission. The Executive Director may shorten the two-week period upon written agreement with the applicant. This recommendation for exemption is conditioned on compliance with the laws of the State of Mississippi and the regulations of the Mississippi Gaming Commission. This action is not to be relied upon as a finding by the Mississippi Gaming Commission of the truth or accuracy of any statements contained in documents submitted to the Mississippi Gaming Commission. The Mississippi Gaming Commission, its officers, and employees disclaim any liability in respect to such a public offering or private placements of securities. The Executive Director recommends that the Mississippi Gaming Commission grant approval to Park Place Entertainment Corporation and its affiliated subsidiaries, for a period of two years, to pledge the equity interests or securities of their affiliated subsidiaries pursuant to a public offering or Minutes of the Mississippi Gaming Commission September 23, 1999 Page 6 private placement made under the approval granted by paragraph 1, above. The Executive Director recommends that the Mississippi Gaming Commission grant approval to Park Place Entertainment Corporation and its affiliated subsidiaries, for a period of two years, to place restrictions including negative stock pledges, upon the transfer of, and to enter into agreements not to encumber, the equity interests or securities of their affiliated subsidiaries pursuant to a public offering or private placement made under the approval granted by paragraph 1, above. The Executive Director recommends that the Mississippi Gaming Commission grant approval to the affiliated subsidiaries of Park Place Entertainment Corporation, for a period of two years, to guarantee the equity interests or securities issued by Park Place
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