Governor Signs Gaming Bill Drafted by Law Students
Investment in the Nevada gaming industry by foreign governments and Native American tribes will have a clearer path to Nevada Gaming Commission approval thanks to a legislative bill created by Boyd School of Law gaming law students as a seminar project.
On June 3, the bill, A.B. 218, was signed into law by Gov. James Gibbons. It confirms that it is up to the discretion of the Nevada gaming control agencies to facilitate applications and investigations relating to sovereign wealth funds and Native American tribes in any manner that best protects Nevada's interests. In testimony before the Nevada Senate and Assembly Judiciary Committees, members of the gaming law policy advanced advocacy seminar testified that sovereign wealth funds held by more than 40 countries are estimated at a combined amount of nearly $4 trillion. They pointed to Dubai World as an example of sovereign wealth fund potential for Nevada gaming industry investment.
Dubai World, which invests the sovereign wealth fund of the Emirate of Dubai, was approved by the Nevada Gaming Commission in November 2008 as a stockholder of MGM MIRAGE and is pending licensing as the 50% joint venture partner with MGM MIRAGE in CityCenter on the Las Vegas Strip. The amount of the Dubai World investment exceeds $5 billion.
The Boyd School of Law students who took part in the 2009 legislative project are: Gabrielle Angle ’10, Amy Baker ’10, Sarah Banda ’10, April Becker ’10, James Conway ’10, Lindsay Demaree ’10, Leslie Fidance ’09, Krissta Kirschenheiter ’09, Steve Parke ’10, Bob Peterson ’09, John Piro ’10, Jeremy Robins ’09, Matt Stafford ’10, Danny Wang ’09, and Caleb Zobrist ’09).
Their work was directed by Adjunct Professor Bob Faiss, who is chair of the Gaming Law Practice Group at the firm of Lionel Sawyer & Collins. He was assisted by Brin Gibson, Seminar Coordinator. This was the fifth consecutive legislative session in which Boyd gaming law students have been instrumental in winning enactment of legislation.
In 2007, the gaming law students won approval of an amendment to the Nevada Gaming Control Act that resolved a controversy as to the procedure for gubernatorial appointment of members of the Nevada State Gaming Control Board.
For details about A.B. 218, click here.