BC Technologies gets license but will face more scrutiny

The Nevada Gaming Commission observed Father’s Day a little late Thursday, questioning two father-son teams in separate licensing matters.

The dad of an Armenian entrepreneur who financed his son’s sports wagering system manufacturing company will receive further scrutiny as a condition of the unanimous approval of a license for Las Vegas-based BC Technologies and its top executive, CEO Vahagn Badalyan.

Badalyan and his father, Vahe Badalyan, spent about 1½ hours Thursday convincing commissioners that the father would not control the operation despite his startup investment in the company. The amount of the investment was not disclosed during the hearing in Las Vegas.

The father’s possible control of the company behind the scenes was a fear expressed by the state Gaming Control Board, which recommended approval in a rare 2-1 vote June 6.

As a condition of the licensing, Vahe Badalyan and his background will be reviewed in a suitability investigation — a costly venture because it will mean reviewing and translating Armenian financial documents and hiring interpreters to help with interviews by investigators.

At Thursday’s hearing, Vahagn Badalyan translated answers to questions from the five-member commission to the father, who speaks no English.

Vahagn Badalyan and Bruce Merati, chief financial officer and chief technology officer, have said they expect the venture to be a success because of the anticipated rapid expansion of sports wagering with dozens of U.S. states looking to legalize

GAMING