Thomas B.
Shepherd III
- Position
- Partner
- Office
- Jackson
Tommy Shepherd is a partner in the Corporate Practice Group. He advises businesses, Native American tribes, and financial institutions on a wide range of commercial and transactional matters.
Tommy represents a broad spectrum of clients in all types of commercial and regulated matters. He has extensive experience in acquisitions, public-private leases, financings, land-use approvals, statutory and regulatory interpretation and compliance, operations, and administrative hearings.
An accomplished gaming attorney, Tommy advises some of the world’s largest gaming operators and suppliers. He also served as an adjunct professor to the University of New Hampshire School of Law’s online program for a Certificate in Sports Wagering and Integrity.
Tommy is co-chair of the firm’s Gaming Industry Team. In this capacity, and in his own practice, he advises major private equity and investment banking firms and large commercial lenders involved in secured and unsecured lending. He also counsels clients with regard to debt offerings and bond offerings in connection with the development of various projects.
An acknowledged thought leader, Tommy serves frequently on panels and speaks on a range of business, legal, ethics, and regulatory issues at national and international conferences.
Noteworthy
-
Best of the Best USA Expert Guide – Gaming and Gambling
- Best Lawyers®, "Lawyer of the Year," Corporate Law, Jackson, Mississippi (2021)
- Best Lawyers®, "Lawyer of the Year," Gaming Law, Jackson, Mississippi (2011, 2017, 2019, 2024)
- National Law Review, "Go-To Thought Leader of the Year" (2018)
- Chambers USA, Corporate/Commercial: Gaming & Licensing (listed annually since 2003); Gaming & Licensing Nationwide (recognition since 2016)
- The International Who’s Who of Sports & Entertainment Lawyers (listed annually since 2013's first edition)
- Mid-South Super Lawyers, Gaming (2006, listed annually since 2012)
- Mississippi Business Journal, Leadership in Law, Mississippi's Top 50 Attorneys (2011); "Mississippi Attorney of the Year" (2011)
- The Best Lawyers in America®, Corporate Law and Gaming Law (listed annually since 2001)
- Leadership Jackson (2000–2001)
- Leadership Mississippi
- AV Preeminent® Peer Review Rating in Martindale-Hubbell
Experience
- Represented the city of Danville, Virginia in negotiating and drafting a casino development agreement with a major casino company
- Represented the city of Richmond, Virginia in negotiating and drafting a casino development agreement
- Represented numerous sports wagering operators and suppliers in licensing and regulatory matters before the Mississippi Gaming Commission, the Virginia Lottery, and the Tennessee Sports Wagering Council
- Acted as special counsel to the private equity purchasers in the largest acquisition in the history of the gaming industry
- Acted as purchaser’s counsel to a Native American tribe in connection with the acquisition of a casino hotel in Louisiana
- Acted as purchaser’s counsel to a Native American tribe in connection with the acquisition of two hotels and related operations in the Caribbean
- Acted as purchaser’s counsel to a Native American tribal entity in a multimillion-dollar acquisition and proposed development of real estate in Mississippi
- Served as counsel to the purchaser in a $280 million acquisition in Mississippi
- Served as counsel to the lenders in a $175 million loan to a greenfield development in Mississippi
- Served as multi-state counsel in a $1.2 billion acquisition of a manufacturer and related financing
- Acted as special finance counsel to an international manufacturer in the billion-dollar acquisition of a Class II gaming manufacturer
- Served as general counsel to a $40 million greenfield development project in Natchez, Mississippi
- Served as special counsel to the private equity purchaser of a manufacturing company
- Served as special counsel to the lenders in a $100 million loan for the redevelopment of a project in Mississippi
- Served as special counsel to the lenders in a $500 million loan in connection with existing indebtedness refinancing and an acquisition in Mississippi
- Served as Mississippi counsel to a publicly traded company in connection with a $5 billion sale and leaseback transaction with a public REIT
Publications
- "Top Mississippi Gaming Stories of 2024," Jones Walker LLP Gulf States Gaming Law Client Alert, January 2025
- "Corporate Transparency Act Update," Jones Walker LLP Gulf States Gaming Law Client Alert, April 4, 2024
- "Alabama's 2024 Legislative Session," Jones Walker LLP Gulf States Gaming Law Client Alert, January 29, 2024
- "Jones Walker Expands Gaming Group with New Office in Tallahassee, Florida," Jones Walker LLP Gulf States Gaming Law Client Alert, January 10, 2024
- "Beneficial for Whom? Requirement to Provide Beneficial Ownership Information for Business Entities Begins January 1, 2024," Jones Walker LLP Gulf States Gaming Law Client Alert, December 4, 2023
- "Federal Appellate Court Rules Florida-Seminole Compact Legal Under Federal Law," Jones Walker LLP Gulf States Gaming Law Client Alert, July 11, 2023
- "2022 Mississippi Milestones," Jones Walker LLP Gulf States Gaming Law Client Alert, January 2023
- "2021 Mississippi Milestones," Jones Walker LLP Gulf States Gaming Law Client Alert, January 2022
- "2021 Regional Gaming Highlights," Jones Walker LLP Gulf States Gaming Law Client Alert, January 2022
- "The Latest on Sports Wagering in Louisiana," Jones Walker LLP Gulf States Gaming Law Client Alert, June 22, 2021
- "What's Next for Sports Wagering in Louisiana? Regulations, Regulations, Regulations," Jones Walker LLP Gulf States Gaming Law Client Alert, May 27, 2021
- "Alabama Gaming Proposal," Jones Walker LLP Gulf States Gaming Law Client Alert, February 22, 2021
- "What Do We Know After the Mississippi Supreme Court’s Ruling in RW Development?" Jones Walker LLP Gulf States Gaming Law Client Alert, January 13, 2021
- "2020 Mississippi Milestones," Jones Walker LLP Gulf States Gaming Law Client Alert, December 2020
- "2020 Regional Gaming Highlights," Jones Walker LLP Gulf States Gaming Law Client Alert, December 2020
- "Sports Wagering Is on the Ballot in Louisiana: Here’s What We Know," Jones Walker LLP Gulf States Gaming Law Client Alert, October 20, 2020
- "Virginia Establishes Narrow Window for Sports Betting Permit Applications," Jones Walker LLP Gulf States Gaming Law Client Alert, September 30, 2020
- "Mississippi Casinos Authorized to Reopen on May 21," Jones Walker LLP Gulf States Gaming Law Client Alert, May 15, 2020
- "What Will Reopened Casinos Look Like in Louisiana and Mississippi After the Coronavirus Shutdown Ends?" Jones Walker LLP Gulf States Gaming Law Client Alert, April 21, 2020
- "Challenging Times: Specific Issues Facing the Gaming Industry During the Coronavirus Crisis," Jones Walker LLP Gulf States Gaming Law Client Alert, March 27, 2020
- "2019 Gaming Highlights," Jones Walker LLP Gulf States Gaming Law Client Alert, December 2019
- "2019 Mississippi Milestones," Jones Walker LLP Gulf States Gaming Law Client Alert, December 2019
- "Sports Betting in Mississippi: It Was a Very Good Year," Jones Walker LLP Gulf States Gaming Law Blog, August 5, 2019
- "Update on Sports Wagering in Louisiana," Jones Walker LLP Gulf States Gaming Law Client Alert, June 2019
- "Sports Wagering in Louisiana Might Be on the Horizon," Jones Walker LLP Gulf States Gaming Law Client Alert, May 2019
- "Sports Betting In The South: A Status Update on Gulf States," Law360, April 17, 2019
- "Top 'Baker’s Dozen' Mississippi Gaming Stories of 2018," Jones Walker LLP Gulf States Gaming Law Client Alert, December 31, 2018
- "Mississippi Has Passed a Lottery Bill: Now What?" National Law Review, September 5, 2018
- "What Do Delaware’s Early Sports Betting Numbers Tell Us About Mississippi’s Potential?" Jones Walker LLP Gulf States Gaming Law Blog, July 10, 2018
- "Mississippi Gaming Commission Adopts Final Sports and Race Book Regulations," Jones Walker LLP Gulf States Gaming Law Blog, June 22, 2018
- "What Has to Happen Before the First Sports Wager in Mississippi," Mississippi Business Journal, June 20, 2018
- "What Has to Happen Before the First Sports Wager in Mississippi?" Jones Walker LLP Gulf States Gaming Law Blog, June 6, 2018
- "Supreme Court Decision on PASPA Could Lead to Mississippi Sports Betting by June," Jones Walker LLP Gulf States Gaming Law Client Alert, May 14, 2018
- "How Important Would Sports Betting Be to the State of Mississippi," Jones Walker LLP Gulf States Gaming Law Blog, April 6, 2018
- Mississippi Chapter, Chambers Global Practice Guides: Gaming, Gambling & Licensing, author (1st ed. 2018), February 6, 2018
- Mississippi Chapter, International Comparative Legal Guide to: Gambling, author (3rd ed. 2017), December 19, 2016
- Mississippi Chapter, International Comparative Legal Guide to: Gambling, author (2nd ed. 2016), January 1, 2016
- "Summary of the Law of Gaming," Encyclopedia of Mississippi Law (2nd ed. Thompson Reuters), 2018
- Mississippi Chapter, International Comparative Legal Guide to: Gambling, author (1st ed. 2015), January 1, 2015
- "Regulation of Activist Investors in the Gaming Industry," Casino Enterprise Management, December 1, 2014
- Co-Author, Mississippi Corporations - Formation and Operation (4th ed. 2004), November 20, 2004
- Mississippi Chapter, International Casino Law (3rd ed. 1999), November 20, 1999
Presentations
- "Navigating Gaming Regulatory Challenges in Mergers & Acquisitions and the Introduction of Private Equity," NCLGS Winter Meeting, New Orleans, Louisiana, December 12, 2024
- "Legal Roundtable Panel," 2022 Southern Gaming Summit, Biloxi, Mississippi, May 5, 2022
- "iGaming & Sports Wagering Panel," 2022 Southern Gaming Summit, Biloxi, Mississippi, May 4, 2022
- "Online Sports Betting," 2021 Southern Gaming Summit, May 5, 2021, Biloxi, Mississippi
- "The Next (Giant) Step: Internet Sports Betting in Mississippi," Southern Gaming Summit, Biloxi, Mississippi, May 8, 2019
- "Tribal Sports Betting: Lessons Learned from Early Adopters," Tribal Sports Betting Conference, Tulsa, Oklahoma, April 30, 2019
- "Integrity: How a Regulated Sports Betting Structure Guards Against Corruption," Betting on Sports in America, Meadowlands, New Jersey, April 25, 2019
- "A Skill-Based Game: What is the Best Model?" National Council of Legislators from Gaming States, January 9, 2016
- "Mergers and Transfers of Interest: What Considerations are Relevant in Approving Consolidations," American Bar Association Gaming Law Minefield National Institute, Las Vegas, Nevada, February 12, 2015
Memberships
- American Bar Association, Business Law Section, Gaming Law Committee
- Federal Bar Association, Indian Law Section
- International Association of Gaming Advisors, Board of Trustees (2001–2017 and 2022–present); President (2013–2014); Counselor
- Leadership Greater Jackson Board of Trustees (2010–2012)
- Mississippi Bar Foundation, Fellow
- Mississippi Secretary of State Business Law Advisory Group, Chairman, 2000–2007
- Mississippi Secretary of State's Business Reform Committees, Co-Chairman, Corporations Law Committee (2008, 2011)
- National Conference of Commissioners on Uniform State Laws Mississippi Commissioner (1992–1996)
- Rotary Club of Jackson, President (2010–2011)
- The Mississippi Bar, Chairman, Section of Gaming Law, (1996–1997); Chairman, Section of Business Law (1994–1995)
- St. James’ Episcopal Church, Vestry, served two terms; Senior Warden (2019–2020), Junior Warden (2017–2018)

Education
- Washington and Lee University School of Law
JD, cum laude, 1984
President, Phi Delta Phi; Washington and Lee Law Review - University of Mississippi
BBA, cum laude, 1980
President, Omicron Delta Kappa; President, Beta Alpha Psi
Bar Admissions
- Mississippi
- Tennessee
- Virginia