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10 N.J.A.R. 295

Boardwalk Regency Corporation and the Jemm Company, In the Matter of the Applications for Casino Licenses
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Citation: 10 N.J.A.R. 295
Decision Date: 1980
Synopsis: Boardwalk Regency Corporation and the Jemm Company (lessor of the casino hotel operated by Boardwalk Regency) applied to the Casino Control Commission for casino licenses. Following a hearing by the Commission, a conditional license was granted to Boardwalk Regency and a limited owner-lessor license was granted to Jemm. The main obstacle to licensure for Boardwalk Regency was the good character qualifications of four individuals required to be qualified. All were executives of Caesars World, Inc., parent company of Boardwalk Regency. The Commission, after consideration of the evidence, found that two of those individuals--Clifford Periman, Chairman of the Board of CWI, and Stuart Perlman, Vice-Chairman of the CWI board, and both major shareholders--did not establish their good character and were not qualified. The Commission determined, however, that it had authority to issue a casino license despite the disqualifying individuals, provided the license was conditioned so as to eliminate the influence of the unacceptable qualifters. N.J.S.A. 5:12-75 and -105. Such conditions must remove any unacceptable individuals from the categories of persons required to be qualified. In addition, there should be good reasons why the public interest would be better served through conditional licensure than through license denial and appointment of a conservator. Accordingly, the Commission granted the license on the condition that Boardwalk Regency either separate the unqualified individuals from the corporation or withdraw from casino operations in New Jersey. The applicant was given a 30-day interim period in which to decide which of the two options it would elect.
Statute(s) Cited: 5:12-73d 5:12-75 5:12-76 5:12-80a 5:12-82b 5:12-84a 5:12-84c 5:12-84d 5:12-85c 5:12-85d 5:12-85e 5:12-87a 5:12-89b 5:12-89b(2) 5:12-89b(3) 5:12-105 5:12-130.1(b) 
Citation Tracker modified-180 N.J. Super. 324 (App. Div., 1981); modified-90 N.J. 361 (1982) [Updated through 1991]