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The Casino Club at The Greenbrier Resort in White Sulphur Springs, West Virginia, will remain open after the West Virginia Lottery Commission approved the property’s gaming license renewal during an emergency meeting June 30.
The approval came just hours before the casino’s license was set to expire. Commissioners had initially delayed the renewal because required audited financial statements had not been submitted in time, according to reporting by the Charleston Gazette-Mail.
Under West Virginia law, regulators cannot renew a limited gaming facility license until all financial documentation has been reviewed. The casino is operated by businesses tied to US Sen. Jim Justice and his family.
West Virginia casino audit delays trigger review
Officials said the audit materials were expected by March 20 to allow enough time for review before the June 30 deadline. During the meeting, Charleston attorney Steve Ruby, representing the Greenbrier and the Justice family, attributed the delay to staffing turnover within the resort’s accounting and finance departments.
After the audit was submitted, the commission convened an emergency phone meeting permitted under the state’s open meetings law when significant financial consequences are possible.
According to The Intelligencer, regulators approved the renewal but placed the casino under enhanced financial monitoring for the upcoming fiscal year.
Greenbrier’s financials revealed mounting debt concerns
During the review, outside financial consultant Chris Lambert told commissioners the Greenbrier reported negative working capital of roughly $240 million. Total liabilities also increased significantly year over year.
Lambert said part of the financial strain stemmed from loans made to other Justice family-controlled entities. Despite those concerns, he recommended renewing the license because the resort remains profitable.
The West Virginia casino reported approximately $158 million in annual revenue and more than $9 million in net income, though profits declined from the previous year.
West Virginia Lottery Chief Financial Officer Michelle Painter supported Lambert’s recommendation and cited the delayed audit, staffing turnover and liquidity concerns as reasons for additional oversight.
Under the agreement, the Greenbrier must submit quarterly unaudited financial reports beginning in September. The reports will be reviewed by accounting firm Suttle & Stalnaker.
Debt pressure mounts on West Virginia casino
The licensing dispute comes amid broader financial challenges facing the resort and other Justice family businesses.
A loan package previously held by Carter Bank & Trust was sold earlier this year to an entity affiliated with Omni Hotels & Resorts’ parent company. The buyer has since pursued legal action seeking a court-appointed receiver over Greenbrier properties.
Meanwhile, the Justice family is reportedly pursuing refinancing efforts valued at up to $500 million to restructure outstanding debt obligations. Court filings referenced during the licensing proceedings stated existing loans matured April 1 and had not yet been refinanced.
Greenbrier’s casino operations remain open
For now, casino operations will continue without disruption. The Casino Club at The Greenbrier offers slot machines, table games and sports betting through a partnership with FanDuel. Access remains primarily limited to resort guests and members.
Lottery Commission Chairman Kenneth Greear said he was pleased regulators resolved the issue without interrupting operations or affecting the local economy.
The renewal extends the casino’s operating license for another year. However, regulators made clear that ongoing quarterly reviews signal a more cautious approach as the resort works through its financial and legal challenges.
