Fifth Street Gaming Under Review by Nevada Regulators

fifth Street Gaming is currently facing scrutiny from Nevada regulators due to tax and audit violations. The Nevada Gaming Commission will address these issues at an upcoming meeting, potentially limiting sportsbook revenue at Fifth Street’s North las Vegas property.

Fifth Street owns Ojos Locos Sports Cantina Y Casino, formerly known as the Lucky Club. At the November 20th Nevada Gaming Commission meeting, the Commission will consider a recommendation from the Nevada gaming Control Board.This recommendation proposes limiting Fifth Street’s share of sportsbook revenue with Boomer’s Sportsbook for two years, requiring further approval before any changes.Importantly, Boomer’s Sportsbook, slated to become the new sportsbook operator at the casino pending commission approval, is not directly affected by this limitation.

Ojos Locos General Manager Robert Wright was questioned by the Board regarding the violations.The Board did not disclose specific details of the tax and audit issues, referencing a 2023 letter initially sent by regulators.

Wright explained that many of the 2023 issues concerned the live-entertainment tax. He stated the company has since updated its auditing system and closed the Silver Nugget, which has improved oversight of the property. “There were a bunch of changes in the company and the accounting. All of those things have been addressed,” Wright said.

Though, Board Chairman Mike Dreitzer questioned why recurring accounting record issues weren’t resolved when initially brought to their attention in 2023. He stated a recent review “brought about a whole host of additional matters,including the one recurring matter relating to accounting records. Why was that not addressed when it was brought to your attention in 2023?”

Wright responded that they understood the concerns and were working to fully rectify the situation. He emphasized the changes made within the company and the improvements to their accounting processes.

Key Takeaways

• Fifth Street Gaming is under investigation for tax and audit violations in Nevada.
• The Nevada Gaming Commission will consider limiting sportsbook revenue at Ojos Locos Sports Cantina Y Casino.
• The issues initially surfaced in 2023, primarily relating to live-entertainment tax.
• Fifth Street Gaming claims to have addressed the initial concerns through system updates and operational changes.
• The Nevada Gaming Control Board remains concerned about recurring accounting issues.

Publication Date: 2025/11/10 09:45:33