Vegas firm’s license extended

Wednesday, Sept. 17, 2003 | 9:26 a.m.

KANSAS CITY, Mo. -- The Missouri Gaming Commission has given a slot manufacturer until the end of October to satisfy state concerns about its ownership, or face the revocation of its license.

Sigma Game Inc., a Las Vegas-based slot maker, won a 90-day state license earlier this year from a Cole County judge, who ordered the commission to grant the license to give the company and the state time to resolve the dispute. The commission's latest decision extends the temporary license to Oct. 31.

The dispute centers on the ownership of Sigma, a privately held company, which earlier failed to disclose details of a $20 million loan in early 2000 to company President Katsuki Manabe from the Aruze Corp. of Japan. Officials said Manabe had agreed to sell his near 100 percent interest in Sigma to Aruze interests for $30 million.

Sigma and the commission tentatively agreed in May to settle the matter by barring Manabe from exercising any management responsibility.

But that deal requires approval in an estimated 80 state and tribal gaming jurisdictions where Sigma holds a license. None of the jurisdictions has signed off yet, said Kevin Mullally, the commission's executive director.

The settlement also requires Manabe to come to Missouri to be interviewed by state gaming regulators about the loan transaction. Sigma attorney Mark Schroeder told commissioners last week Manabe has been ill and unable to travel.