Greenbrier Faces Last-Minute Regulatory Hurdle Threatening Casino Closure
The casino needs to complete a $500 million refinancing
The Greenbrier is confronting a last-minute regulatory hurdle that could force its casino to shut temporarily so it can complete a $500 million refinancing tied to a broader fight over control of the West Virginia resort.
According to the MetroNews, lawyers for the property told a federal court that the West Virginia Lottery has not yet set a review of the transaction, even though the deal is due to close on Friday.
If the approval does not arrive in time, the resort says it will proceed without the casino licence sign-off.
Refinancing Pressure Builds
That would put about 90 casino jobs at risk and remove a meaningful source of tax revenue, while leaving the hotel, conference and event business open.
In a statement provided by a firm working for the Justices, Charleston attorney Steve Ruby said: “We are hopeful this regulatory matter will be resolved during that period, allowing casino operations to resume and employees to return to work. If it is not resolved, we will have no choice but to terminate the affected positions.”
Court Dispute Adds More Friction
The refinancing is intended to support a deal with Kennedy Lewis Investment Management, a New York-based private credit firm, and could be used to pay down roughly $300 million of first-lien debt tied to the resort.
The move comes after months of financial pressure and follows earlier scrutiny of the casino licence, which the Lottery renewed only last month after a delay over missing audit material.
That renewal came with quarterly financial checks, underlining how closely the regulator is watching the property’s stability.
Deadline Day Looms
Lawyers for the resort said costs are rising by about $145,000 a day because of interest charges and that further delay would add more professional fees.
They also wrote that “Defendants remain gravely concerned that Plaintiff is attempting to obstruct closing in an effort to derail the refinancing.”
Only a few states away, Maryland’s casinos opened fiscal 2027 with weaker July results, with statewide gaming revenue falling to $157.9 million.
