Code of Massachusetts Regulations
205 CMR - MASSACHUSETTS GAMING COMMISSION
Title 205 CMR 229.00 - Review of a Proposed Transfer of Interest
Section 229.02 - Approval

Universal Citation: 205 MA Code of Regs 205.229

Current through Register 1531, September 27, 2024

(1) Any transfer subject to M.G.L. c. 23N, § 6(h) that does not result in a new qualifier being designated in accordance with 205 CMR 215.02: Persons Required to Be Qualified may be approved by the Commission in a public meeting.

(2) Any transfer subject to M.G.L. c. 23N, § 6(h) that results in a new qualifier being designated in accordance with 205 CMR 215.02: Persons Required to Be Qualified must be approved by the Commission. Said approval shall be subject to the provisions of 205 CMR 229.04. Both the transferor and transferee shall be jointly and severally responsible for the payment of the investigatory and other fees provided for in 205 CMR 214.02(2).

(3) The Commission may reject any transfer requiring approval pursuant to 205 CMR 229.01(1) that it finds would be injurious to the interests of the Commonwealth of Massachusetts. Without implied limitation, a transfer may be considered injurious to the interests of the Commonwealth if the Commission determines that the proposed transferee does not satisfy the applicable considerations set forth in M.G.L. c. 23N, §§ 5, 6, or 9(a); 205 CMR 215.00: Applicant and Qualifier Suitability Determination, Standards, and Procedures; or any other applicable provisions of M.G.L. chs. 23K, 23N or 205 CMR, or if the transferee does not satisfy the provisions of 205 CMR 229.04.

(4) The Commission shall not approve the transfer of a Sports Wagering License for one year after the initial issuance of the license unless one of the following has occurred:

(a) the parent, holding company, or intermediary company of the Sports Wagering Licensee experiences a change in ownership resulting in a change of control;

(b) the Sports Wagering Licensee fails to maintain suitability; or

(c) the Commission determines that other circumstances exist which affect the Sports Wagering Licensee's ability to operate the Sports Wagering Platform successfully.

(5) Limitations on Certain Transfers.

(a) The Commission shall not approve of any transfer that would result in:
1. a Category 1 Operator holding more than one Category 1 License or more than two Tethered Category 3 Licenses; or

2. a Category 2 Operator holding a Category 1 License, more than one Category 2 License, or more than one Tethered Category 3 License.

(b) A Category 1 Sports Wagering License may only be transferred in connection with:
1. the transfer of the licensee's gaming license issued under M.G.L. c. 23K; and

2. the transfer of any Tethered Category 3 Licenses connected to the Category 1 Sports Wagering License to be transferred.

(c) A Category 2 Sports Wagering License may only be transferred in connection with:
1. the transfer of the licensee's license under Chapter 128A to conduct a live horse racing meeting, or rights as authorized by applicable law to conduct simulcast wagering; and

2. the transfer of any Tethered Category 3 License connected to the Category 2 Sports Wagering License to be transferred.

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