Illinois Administrative Code
Title 86 - REVENUE
Part 3000 - RIVERBOAT AND CASINO GAMBLING
Subpart B - LICENSES
Section 3000.231 - Distributions
Universal Citation: 86 IL Admin Code ยง 3000.231
Current through Register Vol. 48, No. 38, September 20, 2024
a) A holder of an Owner's License may make distributions to its partners, stockholders or itself only to the extent that such distribution will not impair the financial viability of the Riverboat Gaming Operation and do not violate the Act, this Part or orders of the Board. Factors to be considered include but are not limited to the following:
1) Cash flow,
casino cash and working capital requirements;
2) Debt service obligations and covenants
associated with financial instruments;
3) Requirements for repairs, maintenance and
capital improvements;
4) Employment
or economic development requirements of the Act; and
5) A licensee's financial
projections.
b) From time to time the Board, or the Administrator acting on behalf of the Board, may require an owner licensee to report distributions made under subsection (a), along with a summary and analysis of the consideration given to the factors identified in subsections (a)(1) through (a)(5).
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