Boyd Gaming Fined $150K in Indiana After Failing to Disclose Review into Executive

Boyd Gaming has agreed to compensate a $150,000 fine to the Hoosier State Gaming Commission (IGC). That’s after the regulatory agency dictated the Las Vegas-based gaming keep company did non reveal a former executive director and permit holder was the theme of an internal investigation.

The former executive had a sexual human relationship with another executive within the company, which went against Boyd’s anti-fraternization rules. That’s according to an parliamentary law sanctioned at Tuesday’s commission meeting,

The go forth came to illume on June 23. That’s when Boyd notified the IGC that it entered into an accord with the Keystone State Gaming Control Board (PGCB) for failing to notify the PGCB virtually the incident.

The PGCB fined Boyd $150,000 at its June meeting.

In Indiana, Boyd operates the Belterra Casino Resort in Florence and the Blue Chip Casino Hotel Spa in Newmarket City.

Boyd Punished Retiring Exec for Violating Policy

Indiana practice of law requires casino licensees to notify the IGC when they face criminal, civil or administrative action. The natural law also requires notice when such actions are threatened.

Boyd’s Board of Directors received a exact letter of the alphabet on July 1, 2019, from a distaff executive director who was workings for the fellowship at the clip but sought to depart, according to the order. An attorney representing the distaff executive director made several claims inward the letter, including that she was “forced to enlist in unfitting sexual activity” with a manly executive. The manly executive director was non named inwards the letter.

The exact alphabetic character led to Boyd’s table forming a special committee to look into the claims.

Two months later, inwards Sept 2019, the male person executive director discussed his possible retreat with the company’s CEO. Eventually, that virile executive director became a subject of the special committee’s review.

By betimes Oct 2019, the male person executive director admitted a consensual relationship with the female executive. The human relationship happened near a decennary before the investigating started, the IGC parliamentary law said.

A describe from the special investigating was discussed at Boyd’s Dec. 5, 2019, room meeting. That account concluded that the manlike executive director violated troupe policy against fraternization. However, it was unable to regulate if the female executive director to coerced into the relationship.

Boyd considered the thing an intragroup issue, and the male executive director retired on Dec. 9, effectual sestet days later. The IGC dictate said the keep company denied the manlike executive director his yearly hard cash bonus. He also did not incur his calling qualified gunstock shares.

Disclosure was Necessary, According to IGC

While the IGC rules of order did non figure either the male or distaff executive, it stated that the manlike executive served as the executive vice president, secretary, and full general counsel to Boyd. A seek of the company’s Securities and Exchange Commission disclosures found that Boyd reported Brian Larson retired from that berth on the same date.

Boyd reported Larson’s retirement to the IGC on Dec. 16, 2019, as he held a Level 1 permit inwards Indiana. However, that written report did non include Larson was voice of a special investigation, nor did it expose any of the findings from that review.

Therefore, Licensee failed to report stuff selective information on a Level 1 licensee with the Commission that could inquiry his suitableness for licensure in Indiana,” the IGC order stated. “Even though the virile executive director was surrendering his certify due to retirement, this stuff info should have been provided to the Commission, giving the Commission the opportunity to direct a suitableness review.”

A voice for Boyd told Casino.org that the society had zilch further to add together on the matter.