In recent events, a man named Vincent Micheal Malfitano, who purchased two
saloon/casinos in Virgina City, has been told by the authorities that he is
not fit to operate them, and must shut them both down. Nevada’s board of
regulations deemed Malfitano incapable of running these businesses within the
state commissions guidelines. This was followed by stating that he can have
nothing to do with the states gambling industry.
Vincents license was denied unanimously by the aggravated Nevada Gaming Commission.
Furthermore, Malfitano has been barred from having any rights to being the landlord
of the properties. There are 25 other employees that are currently still working
under the casino’s employ.
Needless to say, the employees of the establishments are shaken up by the news.
This affects every one of them, and their families. There is some light at the
end of the tunnel (so to speak) in the form of a possible short-term arrangement.
One that can keep the doors of the casinos open long enough for the frazzled owner
to find a solid buyer.
Bruce Dewing, of Dewing Gaming, stated that they would do everything within their
means and guidelines, to keep the businesses open. It is obviously better for the
state of Nevada to make money from these establishments. The 25 employees that are
also directly affected by this, are also given some respite from the fear of
Dewing was quoted at the meeting stating ” They’re the heart and soul of Virginia
City.” A statement made by a man who does not want to see these businesses slip
into obscurity. He is committed to finding a way of making this still economically
viable for Nevada.
After a brutally-long meeting, Malfitano expressed his deep discontent with the
decision of the commission, and his dismayed attitude toward his credibility.
“That’s difficult to listen to,” he said with deep frustration in his voice.
This is a mark on his image that he’d really rather not have. There were of
course, many concerns of the commission that were addressed.
Some of these issues had to do with omissions of several lawsuits against him,
while others had to do with him being issued a citation and handcuffed by police.
This all happened during an argument with his former employee’s spouse at his
assisted living business, Cypress Meadows.
The two saloons in question at the meeting were, the Delta Saloon and the Bonanza
Saloon, which were purchased in October of 2014. In question as well, were Malfitano’s
integrity as a businessman, honesty and overall character. Top it all of with an attack of
questioning regarding his business acumen, and Malfitano has a full plate, and
His honesty was in question, largely due to his mishandling of business finances,
and a questionable casino loan. His attorney of course, plead the case that Mr.
Malfitano is no criminal, and the view of him was being skewed.
Tony Alamo, Chair of the Gaming Commission, stated his point to the fact that
criminal behavior is no requirement for denial here. Commissioner John Moran,
said to Vincent “I don’t want you anywhere near gaming.”
Another statement that followed by Commissioner Pat Mulroy, stated that
“There is a reason why the most grueling and painful process you can go
through, is to get a gaming license in Nevada.”
Hard words to hear, for a man being accused of so many business faults.
It is a tangled web indeed, for Mr Malfitano. Nevada regulators are
decidedly very firm against this type of business behavior, or lack thereof.
With so much of his past business dealings overshadowing his current fiasco,
the road ahead does not look promising for Vincent.
With two businesses, and the integrity of his character on the line, Malfatino
surely must be looking back upon past decisions with some regret. Having the
added pressure of the fate of 25 employees, and their families future at stake,
is a lot to shoulder for anybody.
One can only speculate as to the blow-back effect this will have on his assisted
living business image as well. Certainly, any future dealings will be looked upon
tentatively, by future associates or investors.
Malfitano’s attorney stands firm in his client’s innocence. They will maintain
the position that his image is not being represented entirely accurate.
For now, at least.
The previous statement by John Moran that he wants Vincent nowhere near
gaming is a harsh one to hear indeed. Especially since it is the very thing he
is invested in for his future income. Only time will tell if he can find a buyer
for both saloons, or whether he will go down with the ship.
The Gaming Commission is primed to make an example of this case. In a state where
gambling and casinos are your prime market for revenue, it is just bad business.
Malfitano of course, will suffer the worst blow from this.
Whatever his reputation was before this financial catastrophe, is no longer
relevant. It is something that, in the world of gambling businesses is simply
not to be done.
Whether or not Malfitano can bounce back remains to be seen.