The Pennsylvania Gaming Control Board has approved the corporate restructuring of Mount Airy, operator of the Mount Airy Resort and Casino. The move transfers ownership of the Pocono-based casino from Louis DeNaples to his daughter Lisa DeNaples.
The board’s decision vacated earlier orders from February 2008 that suspended the licence of Louis DeNaples and of June 2009, which reinstated the licence but with conditions such as keeping the board appointed trustee Anthony Ceddia in place but in a limited capacity. The ruling provides for the removal of the trustee within 20 days of the completion of the reorganisation and keeps in place the prohibition that DeNaples exercise any legal control in any capacity.
“As with any change of control, the board reviews the proposals to ensure it is in the best interest of Pennsylvania citizens,” said the control board’s chairman Greg Fajt. “While any change of ownership is a significant event and requires close scrutiny by the board, the good news is that this transfer will not result in any change in the day-to-day operation of the casino.”
