West Virginia’s Greenbrier Hotel, which partners with online casino operators on its gaming license, is no longer scheduled to be auctioned on Aug. 27. That may come as a relief to gaming license partners BetMGM, FanDuel, and Golden Nugget — owned by DraftKings.
Publications ranging from AP to WSAZ reported on Aug. 22 that the family of Gov. Jim Justice reached an agreement with the bank to avoid losing the property. Also, the agreement averts a court appearance scheduled for Aug. 23 that was also the Justice family’s attempt to stop the auction.
The hotel came under threat of auction after JPMorgan Chase sold a longstanding loan taken out by the governor to a credit collection company, McCormick 101 — a subsidiary of Beltway Capital — which declared it to be in default.
The Justice family agreed to pay an unspecified amount to the bank by Oct. 24.
However, paying McCormick 101 may not end debts owed by the Greenbrier Hotel Corporation (GHC).
Brad McElhinny wrote on Aug. 22 for the WV MetroNews that hotel and casino employees were notified that they may lose their health insurance on Aug. 27 because GHC is four months behind on premiums.
McElhinny reported:
Overdue property taxes for The Greenbrier Hotel and four related businesses are listed at $2.2 million with the county courthouse.
Meanwhile, West Virginia online casinos partnered with Greenbrier generate millions in gross gaming revenue (GGR). In June, West Virginia iGaming brought in $19.1 million in GGR and Greenbrier’s partners accounted for 40% of that total. That market dominance is longstanding.
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