Veteran gaming exec Nigro gets OK to run Maxim

Friday, March 20, 1998 | 11:21 a.m.

The commission voted Thursday to approve Nigro as manager, and also to continue his status as receiver until next September. He had won tentative approval as receiver in December.

Nigro told the panel that a foreclosure sale of the Maxim, which had been run by Davis, Calif., tomato tycoon John B. Anderson, may be held early next month - and West Coast Mortgage, which holds $40.6 million in defaulted notes secured by Maxim assets, will likely be the only bidder.

Nigro, who as receiver represents West Coast, has expressed an interest in eventually acquiring the property.

Casino regulators haven't taken final action yet on a complaint against Anderson for allegedly trying to siphon off Maxim hotel-casino cash and assets worth up to $1.6 million prior to his ouster late last year.

In other action, the commission:

-Allowed the slot manufacturer-distributor-route operator license of C.D.F. Inc. of Las Vegas to expire. That shuts down the business, which employs 35 people and did a big international business in buying, refurbishing and reselling old slots.

-Approved former Attorney General Brian McKay as an officer and key employee at International Game Technology in Reno and at its Megasports Inc. in Las Vegas.

-Approved Capado Gaming Corp. to set up slot machines in the Debbie Reynolds hotel-casino in Las Vegas. Reynolds' part of the resort - everything other than gambling - is going through bankruptcy proceedings, and a Chapter 11 confirmation hearing is scheduled in Las Vegas on Monday.

archive