The Greenbrier receives casino license approval following ownership change

The West Virginia Lottery Commission has approved the casino license for The Greenbrier following a major change in the historic resort’s ownership structure. The approval comes after New York-based Kennedy Lewis Investment Management completed a $500 million joint venture to acquire a 51% controlling interest in the White Sulphur Springs property.

Under the new arrangement, Kennedy Lewis holds a majority of the seats on the resort’s five-member governing board. Lloyd Nathan has been appointed as chairman of the board, alongside directors Brian Dubin and Doug Gerowski. The Justice family, which has owned the resort since 2009, retains a 49% ownership stake and two board seats, including one held by Jill Justice.

Governor Patrick Morrisey stated that his administration will continue to monitor the casino as the resort undergoes refurbishment. The transaction was designed to address existing debt and provide capital for investment in the property, following months of financial and legal uncertainty involving various debt holders and legal disputes over control of the resort.