For decades, Stites & Harbison, PLLC has assisted clients in all facets of the gaming industry. Casinos, racetracks, sports betting companies, gaming manufacturers, distributors, gaming executives, and investment entities tied to the industry all rely on Stites & Harbison for sound legal advice and representation. Drawing significant media attention and government interest, the gaming industry is one that is highly regulated, requiring gaming companies and affiliated businesses to understand how best to appropriately navigate regulations and minimize risk.
Our attorneys routinely counsel clients in the area of regulation, licensing, construction, real estate transactions, employment matters, intellectual property, financing and tax issues, and various corporate matters. Stites & Harbison lawyers have represented clients such as racetracks and casino operators with regard to a wide range of gaming topics including pari-mutuel wagering, simulcasting, electronic betting sites (including ADWs), video lottery terminals (VLTs), historic racing machines, Internet gaming, and Native American casino gaming.
Representative experience includes:
- Advised a gaming operator concerning the legality of VLTs under state lottery statutes.
- Represented the business development arm of a Native American company in the acquisition of a Kentucky racetrack including regulatory approval by the Kentucky Horse Racing Commission.
- Represented the developer in drafting and negotiating construction redevelopment and related matters for racetrack.
- Represented a casino operator in the regulatory aspects of acquisition of a Thoroughbred racetrack and historic horse racing machine facility and subsequent divestiture.
- Represented a racetrack in a private placement of shares and general corporate and regulatory matters.
- Represented racetrack owner in share purchase and sale transactions.
- Along with the Kentucky Horse Racing Commission counsel, led the drafting of regulations implementing historic horse racing in Kentucky and subsequent litigation concerning the legality of the regulations.
- Represented a domestic provider of international simulcast and related horse racing television programming and performance data in the sale of the business to an international public company and gambling entertainment group.
- Represented banks in financing racetrack-project financing and working capital lines of credit.
- Represented racetrack and gaming operators as borrower’s counsel in syndicated credit and other financing transactions.
- Advised foreign racetrack regarding regulatory requirements in connection with distribution of broadcast signals in Canada and the United States.
- Represented a public company engaged in the business of online horse race handicapping and wagering (including ADW) in a business combination transaction with another public company.
On the evening of June 30, 2020, a few hours before the Paycheck Protection Program (“PPP”) loan application deadline was set to expire, the U.S. Senate unanimously passed a bill amending the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) to extend the deadline from June 30 2020 to August 8, 2020.