Gaming license denied

Thursday, May 8, 1997 | 11:59 a.m.

State regulators denied a gaming license for Coast Resorts Inc. oddsmaker Zacharie Franzi, citing his alleged ties to the so-called "Kosher Boys" betting ring.

Investigators said the group, directed by Daniel Kramer of Scarsdale, N.Y., used runners to place bets at Las Vegas sports books.

Law enforcement seized more than $3 million in cash, including $800,000 from Las Vegas safe deposit boxes, during mid-1995 raids in New York and Nevada.

The State Gaming Control Board's action, which is subject to Nevada Gaming Commission approval, came despite Coast Chairman Michael Gaughan's endorsement of Franzi.

The board also approved the transfer of a 4.8 percent stake in The Horseshoe Club Operating Co. to Becky Binion Behnen. The transfer, from the estate of her mother, gives Behnen an 18.56 percent interest in the Horseshoe, founded by her late father Benny Binion.

Board members grilled Behnen about her business relationship with her brother Ted Binion, who faces stiff questioning this afternoon at a hearing to determine if he's stayed drug-free for the past year.

Ted Binion has been barred from exercising any influence over Horseshoe operations pending resolution of his license status.

The board also denied bids by Bruce and Janis Sampson to be deemed suitable to act as independent agents for several Nevada casinos, saying the couple have failed to cooperate in background investigations.

It also granted requests by several gaming operators for approval of "shelf registrations," which allow issuers to offer securities as market conditions warrant without time-consuming approval procedures for each sale.