CasinoLatest News

SGMSD Becomes New Licensed Operator In South Dakota


On April 24, the South Dakota Commission on Gaming officially validated the operator and retail licenses of SGMSD, LLC, the company that officially purchased the famed Franklin Hotel and Silverado gambling complex in Deadwood from Super G Investments.

The approval came in a teleconference meeting.

Furthermore, the commission also officially approved Jon Grant Lincoln as a key licensee.

Key licensee background:

Currently serving as a Chief Executive Officer for Strategic Gaming Management, a Missoula, Montana-based company, Lincoln is also a consultant for ZenSports, an extending phone-wagering app company based in West Hollywood, California.

In 2021, ZenSport used its Nevada gaming licenses to manage Big Wheel Casino in Lovelock, Nevada, and The Book at Baldini’s in Reno, Nevada. In entering into that agreement, Strategic Gaming Management acted as slot machine route operator and obtained a share of the slot machine income.

Strategic Gaming Management (SGM) was founded and officially launched in 2009 to buy Baldini’s Casino.

Company establishment:

Lincoln and Charlie Skinner from Las Vegas, Nevada, a partner in Strategic Gaming Management and president of Marker Trax, a firm specializing in the management and issuance of non-cash funds for casino players, submitted organizational documents for SGMSD with the South Dakota Secretary of State office and obtained official approval on January 4, 2023. SGMSD is officially owned and managed by SGM.

“Lincoln is the owner of 99% of SGMSD and Skinner of the 1%,” according to an official summary of the investigation obtained by the South Dakota Commission.

Licensing obligations:

Since SGMSD now has official licensee status, the company is now required to submit copies of all proposed gaming contracts to the commission’s executive secretary.

In this regard, under South Dakota law: “The executive secretary or the commission may approve or deny gaming contracts and require changes in the contracts before participation by the licensee is allowed. The executive secretary or the commission may require a licensee to terminate participation in a gaming contract.”

Teleconference meeting:

During the meeting, among the important members was Tom Rensch, general manager of the Silverado/Franklin hotel complex.

Moreover, the commission session lasted less than 10 minutes. As the four members prepared to take a break, Lincoln spoke and praised the work of the commission’s staff regarding the background investigation of permit applicants.

In this regard, he said: “Everything was first class, professional, really enjoyed the process, sooner rather than later. I want to meet the commission members on an individual basis.”

And the commission’s chair, Karen Wagner of Belle Fourche, responded with gratitude.

Super G Investment Corporation was founded and officially launched in 1990, with Gilbert D. Moyle III of Rapid City as president, and officially opened the Silverado casino. In addition, it bought the Franklin Hotel property in 2005.



Source link