LAS VEGAS – The Nevada Gaming Control Board will look into Galaxy Entertainment Group (GEG) after the Hong Kong-listed casino company’s purchase of a stake in Wynn Resorts.
“As is its ordinary course, the Nevada Gaming Control Board engages in a due diligence process for any shareholder approaching a reporting requirement,” Becky Harris, the board’s chairwoman, said on Friday in a statement.
Individuals owning more than 10 percent of a casino must meet suitability requirements in the US state, while a 5 percent stake triggers reporting rules for the board. Galaxy’s 4.9 percent share falls short, but the state’s chief casino agency has discretion over whether to examine investors with less.
