(a) Unless a licensee has been granted
continuous approval for involvement in foreign gaming, an application for final
approval for involvement in foreign gaming must be filed with the Executive
Director as soon as practicable and in no event later than thirty (30) days
after the execution of a definitive agreement pertaining to the proposed
involvement or at such time as any application for licensing or related
approval is made to the foreign jurisdiction, whichever occurs first. The
application shall be made on such forms as may be prescribed by the Executive
Director. Failure to timely file an application may constitute grounds for
denial.
(b) The application must:
1. Provide information about the proposed
involvement in foreign gaming, to the extent it is practicable, as would be
required in an application for a similar involvement in Mississippi
gaming;
2. Provide a description of
the regulatory system that will govern the proposed involvement in foreign
gaming; and
3. An
application/investigation fee of two thousand dollars ($2,000.00). The
application shall pay the cost of any additional investigation as required by
the Executive Director.
(c) The applicant shall file with the
application a descriptive index of all application forms and related documents
filed with the foreign jurisdiction by the applicant or by any entity
affiliated with the applicant.
(d)
The applicant shall maintain within the State of Mississippi, and make
available for examination by the Executive Director, executed copies of all
application forms and related documents filed with the foreign jurisdiction by
the applicant or by any applicant affiliated with the applicant.
(e) The Commission shall consider all
relevant information in considering the application, including, but not limited
to, the following:
1. Whether the applicant
has provided sufficient reason for belief that the foreign gaming operation for
which involvement is proposed will be conducted in accordance with the
standards of honesty and integrity required of gaming activities in Mississippi
and will pose no threat to gaming control in this state;
2. Whether an effective accounting system
will be implemented in the foreign gaming operation for which involvement is
proposed that will prevent the employment of any techniques that could result
in the avoidance of any Mississippi gaming license fees or taxes;
3. The business history of the licensee,
including its record of financial stability, and the integrity, duration, scope
and success of its operations in Mississippi and elsewhere;
4. The current business activities and
investments of the licensee and its gaming affiliates;
5. The regulatory history of the licensee and
its affiliates in Mississippi and in foreign jurisdictions;
6. The availability and accessibility in
Mississippi of information to the Commission regarding the Mississippi
operation and the involvement in the foreign jurisdiction for which application
has been made;
7. The extent of
personnel capable of managing both the licensee's Mississippi gaming businesses
and the foreign gaming operation;
8. Whether the foreign gaming operation will
create a significant risk that the licensee or its gaming affiliates will not
satisfy their financial obligations as they become due;
9. Whether the foreign gaming operation will
create a significant risk that the licensee or its gaming affiliates will not
satisfy all financial and regulatory requirements imposed by the laws of
Mississippi and the regulations of the Commission; and
10. The current financial status and
structure of the applicant, both within and without Mississippi, including
historical and perspective balance sheets and statements of operation for
business activities in Mississippi and other jurisdictions, key financial
statistics such as debt to equity ratios and other financial data.
(f) The final approval may be
limited or conditioned in any manner deemed reasonable by the Commission.
(Adopted: 12/30/1992.)
Miss. Code Ann. §
75-76-205,
75-76-251,
75-76-273
