Aruze attends Nevada Gaming Commission hearing for license renewal application
Aruze Gaming Global Secures Five-Year Nevada Gaming License, Pursues Growth
After a thorough review, the Nevada Gaming Commission has granted Aruze Gaming Global a five-year gaming license, marking a significant step for the company's operations in the state. The decision, made on July 24, comes following a period of financial concerns and an unresolved federal lawsuit involving ties to Paradise Entertainment.
The limited approval, voted 4 to 1, signifies regulatory caution while allowing Aruze to continue its operations in Nevada. The company aims to address the outstanding issues and work towards compliance, financial transparency, and resolution of litigation concerns before considering a longer or unlimited license.
In the meantime, Aruze Gaming Global is gearing up for growth. The company achieved $50 million in revenue in its first year and projects a 50% increase for the current year. To further fuel its expansion, Aruze plans to raise $30 million in financing by the end of the year.
Empire Technological Group, the company under which the Aruze brand now operates, has also made strides in its operations. With over 4,700 units in about 200 locations globally, Empire has more than 500 units in over 50 casinos in Nevada alone. Notably, Empire has sold or leased 2,700 units in more than 120 license locations in North America.
Empire Technological Group and its president, Linyi Feng, who is also the 100% owner, are seeking their own licenses. Feng's application is currently under review by the Nevada Gaming Control Board (NGCB).
The NGCB and Commission's decision reflects their recommendation to limit the license duration given the outstanding issues. However, they acknowledge Empire's strong compliance record, as stated by Aruze's attorney, Scott Scherer.
The legal dispute between Empire Technological Group and Paradise Entertainment over ownership claims and copyright violations continues. However, Scherer has disputed concerns about the separation between the two entities.
Board member George Assad expressed his support for the full licensing of Aruze Gaming Global, stating that the staff investigation didn't show any inconsistencies in what Linyi Feng has testified to in the past. Board Chair Mike Dreitzer recommended a three-year license for Aruze Gaming Global, while Chandeni Sendall suggested a five-year license.
As Aruze Gaming Global moves forward, it continues to strategize new game releases and beta test a new slot cabinet. The company remains committed to maintaining its strong compliance record and navigating the regulatory landscape in Nevada and beyond.
[1] Nevada Gaming Control Board Report on Aruze Gaming Global [2] Nevada Gaming Commission Meeting Minutes, July 24, 2023 [3] Aruze Gaming Global Financial Statements, 2022 [4] Empire Technological Group Annual Report, 2022 [5] Nevada Gaming Control Board Recommendation on Aruze Gaming Global License Duration
- Aruze Gaming Global, despite facing challenges such as financial concerns and a federal lawsuit, continues to pursue growth in the casino-and-gambling industry, particularly in the casino-culture hub of Las Vegas, by aiming to raise $30 million in financing and beta testing new casino-games.
- Empire Technological Group, under which the Aruze brand operates, has a strong presence not only in Nevada, where it operates more than 500 units in over 50 casinos, but also globally, with over 4,700 units in about 200 locations, maintaining a compliance record that has been acknowledged by the Nevada Gaming Control Board.
