The NJ Casino Control Commission (CCC) on June 21 granted the petition of Microsoft which sought the waiver of the submission of disclosure forms on behalf of Bill Gates, Microsoft's chairman, and Steve Ballmer, Microsoft's chief executive officer. The basis for the waiver was the fact that both Mr. Gates and Mr. Ballmer previously received top secret federal clearances issued by the Department of Defense of the United States based upon investigations conducted by the Department of Defense.
According to Patrick McAuley of Connell Foley LLP, who represents Microsoft, the licensure requirement was triggered by contracts Microsoft entered into with Borgata. Although the revenues to Microsoft generated by those contracts is 'miniscule' in comparison to Microsoft's worldwide revenues, Microsoft was notified by the CCC that it must apply for a license in order to continue to do business with the casinos in New Jersey.
According to Mr. McAuley, legislation proposed last year and reintroduced again in the New Jersey Legislature this year, would exempt certain publicly traded companies from casino service industry licensure if revenues from such service to casino applicants and licensure within 12 months were less than 1/10 of 1 percent of all corporation revenues.