The Nevada Gaming Commission has denied an application by the CEO of GameCo LLC for a gaming license.
Blaine Graboyes is the CEO of GameCo, a Las Vegas-based company that, it says, combines skill-based video games with real-money casino gaming to create video game gambling machines (VGM) in order to attract gamers to land-based casinos.
Graboyes’ legal last name, as listed on his application, is Goldman.
The NGC voted 4-1 to deny his application, meaning he is not allowed to collaborate with gaming licensees in the state.
Graboyes had been operating under a temporary license granted two years ago.
His company has gaming machines in Nevada and Oklahoma.
During public sessions of Thursday’s meeting, members of the Commission expressed concerns regarding Graboyes’ connections with an Ohio-based company called Beyond Gaming. In the period from 2012 to 2014, Graboyes served as a consultant to Beyond Gaming, and eventually was named the company’s CEO.
According to public records, another official with Beyond Gaming has testified before the Nevada Gaming Control Board with allegations that Graboyes misappropriated intellectual property from Beyond Gaming, which eventually filed for bankruptcy.
Graboyes has denied the allegations, but members of the Commission said they felt his actions with Beyond Gaming amounted to self-dealing and a conflict of interest in an attempt to gain control of the company’s assets.
It is not known if Graboyes will appeal this week’s decision to deny his license.
