A lawsuit filed against a casino management company operated by the sons of gaming pioneer Michael Gaughan was settled recently in Clark County District Court.
John Gaughan, president of Las Vegas Dissemination, said in statement released Friday that Gaughan Gaming had settled its dispute with a company over an alleged default on loans purchased from the Federal Deposit Insurance Corp.
“While coordinating payment of the loans with the FDIC, there were some miscommunications by the FDIC that delayed the initial installments,” Gaughan said. “These matters were corrected very quickly and we finally worked out a solution with the purchasers of the loans. I am pleased that this matter was resolved.”
Gaughan Gaming, which is operated by John Gaughan and his brother, Michael Gaughan Jr., is seeking casino management projects in regional markets.
Michael Gaughan Sr., who owns the South Point Casino, is not affiliated with Gaughan Gaming.
John Gaughan is the president of Las Vegas Dissemination Co., which provides pari-mutuel racing services to Nevada race and sports books and in various markets.