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Andre Agassi Business Fined By Nevada Regulators

Former Tennis Star And Business Partner Make Paperwork Mistake

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A Las Vegas restaurant business with a gaming component part-owned by retired tennis star Andre Agassi made a mistake during its compliance with Nevada gaming regulations and will have to pay a $15,000 fine.

The amount was agreed upon by both parties involved in the matter.

The state’s Gaming Control Board released details of a three-count complaint last week. What the firm — Flamingo Investments — did “constitutes an unsuitable method of operation, and, as such, is grounds for disciplinary action,” the complaint said. In a nutshell, the firm failed to get regulatory approval when ownership interest in the property changed.

“The Board requires all licensees to file an Owners and Conditions Verification Form (NGC-09 Form) with the Tax and License Division on an annual basis. The NGC-09 Form requires all licensees to verify that the owners, manager, shareholders, interest holders, officers, directors, etc., of the entity holding the gaming licensee have not changed since the date the license was granted by the Nevada Gaming Commission…The three NGC-09 Forms Corrigan filed with the Board from 2009 through 2011 did not indicate the transfer of ownership of Flamingo from the Marquis Trust to the Corrigan Trust that was entered into on or about January 9, 2009…”

The restaurant in question is the Sedona Lounge on West Flamingo Road.

Agassi, 43, was born in Las Vegas. He won more than $31 million during his professional tennis career, one that lasted two decades.

The Nevada Gaming Commission will approve or deny the settlement later this month.

For more news from Nevada, check out its state page.

 
 
 
 

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xIcemanxx
over 8 years ago

let!

 
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