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The West Virginia Lottery Commission has approved a casino licence for The Greenbrier Resort following a change in control at the White Sulphur Springs property.
According to the source report, Kennedy Lewis Investment Management now holds a 51% stake in Greenbrier Holdco LLC, the resort’s parent company, and has secured a majority of seats on its five-member governing board. The Justice family, led by Sen. Jim Justice, retains a 49% stake and two board seats.
Acting Lottery Director David Bradley said Kennedy Lewis brings “stability to ensure positive growth and protect the financial integrity of The Greenbrier.”
Kennedy Lewis takes majority control of The Greenbrier
The ownership shift follows a legal dispute involving an affiliate of Omni Hotels & Resorts. The source report said the Justice family negotiated a $500 million agreement with Kennedy Lewis that was structured as both a loan and a joint venture.
That deal also settled Omni’s claims and cleared more than $10 million in tax liabilities, including $2.6 million in state taxes, according to the report.
Attorney Steve Ruby, who represented the Justices, said the transaction gives The Greenbrier new financial flexibility and secures “tens of millions of dollars” for improvements and deferred maintenance. He also said the deal separates the resort from the rest of the Justice family companies, with earnings staying within the Greenbrier joint venture.
What state officials said about the licence approval
Gov. Patrick Morrisey said the state is committed to working with Lloyd Nathan, identified in the report as the new chairman of The Greenbrier board, to refurbish and enhance the historic property.
The Greenbrier is one of West Virginia’s best-known resort properties and includes a private casino alongside four golf courses and a luxury spa. The resort traces its history back to 1778, when the area’s sulphur springs first attracted visitors.
For West Virginia readers, the immediate reported development is the regulatory approval tied to the resort’s new ownership structure. The source did not detail any changes to the property’s gaming offerings or additional licence conditions.
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Source: As reported by Jefferson Mendoza.
