Gaming Licensees Instructed to Abstain from Marijuana to Remain Compliant
The Nevada Gaming Control Board has made it clear to any casino executives contemplating involvement in the state's medical marijuana trade that they are off-limits. After all, as experienced card players know, maintaining control is key in poker.
While medical marijuana has been legal in Nevada since 2000, it wasn't until 2013 that legislation allowed for businesses to dispense the drug. The system previously required patients who qualified to grow their own or obtain it from caregivers who both grew and donated the cannabis, but many patients resorted to illicit dealers.
"Let's Keep It Illegal"
In March, Clark County took the first steps to accept applications for distribution licenses in southern Nevada. However, the gaming industry has been given a stern warning by its regulatory body. In a statement on their website, the Gaming Control Board made it clear that possession and distribution of marijuana remains a federal crime.
"Therefore, the Board does not believe investment or other involvement in a medical marijuana facility or establishment by a person who has received a gaming approval or applied for a gaming approval is consistent with the effective regulation of gaming," read the statement, penned by Board member Terry Johnson.
"Further, the Board believes that any such investment or involvement by gaming licensees or applicants would tend to reflect discredit upon gaming in the state of Nevada."
Senator Greg Brower (R-Reno), who backed the bill, is glad the Gaming Control Board is taking this stand. "This is another example of an unintended consequence from the inconsistencies in the law. I voted for it, but my reservations have increased," he said.
High Rollers and Weed Dealing
Investigations by the Las Vegas Review-Journal have identified several individuals involved in the medicinal marijuana business who could be affected by the Gaming Control Board's stance. Topping this list is M Resort CEO Anthony Marnell III, who owns 71% of Clear River LLC, a company aiming for a Clark County marijuana license. Brothers Troy and Tim Hearst, owners of slot machine route operator JETT Gaming, are believed to have invested in the medical marijuana industry as well.
Lastly, Armen Yemenidjian, son of Tropicana President Alex Yemenidjian, holds 40% of Integral Associates LLC, which has applied for five licenses. As Vice President of Casino Marketing and Operations at Tropicana, Armen made the decision to distance himself from the Wellness Connection of Nevada LLC, which he previously managed. He's not a gaming license holder himself, but his actions were in the best interests of both companies.
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