Current through Register Vol. 56, No. 18, September 16, 2024
(a) The racetrack permit holder or the owner
and/or lessee of a former racetrack shall make an application for an initial
sports wagering license on a form prescribed by the Racing Commission. The
application shall be accompanied by a non-refundable filing fee of $
100,000.
(b) An application for an
initial sports wagering license shall not be considered complete unless:
1 . The permit holder or the owner and/or
lessee of a former racetrack demonstrates, and the Racing Commission's
investigation into the application confirms, that the requirements of the Act
and this chapter have been satisfied;
2. The permit holder or the owner and/or
lessee of a former racetrack has completely answered each question within the
application, submitted the original and two copies of the application, and has
fully complied with all of the Executive Director's requests for additional
information;
3. The permit holder
has demonstrated that it has given a one-time right of first refusal offer of
employment at the sports pool to any person employed by the permit holder on
the effective date of the Act (June 11, 2018) in the admissions department or
parimutuel clerk department of the racetrack; and
4. The application is accompanied by a
certification signed by a high managerial agent attesting that the disclosures
within the application and within its attachments are true, accurate, and
complete.
(c) Following
the Executive Director's determination that the application for an initial
sports wagering license is complete, the Racing Commission shall consider the
application at a public meeting to make a final determination on the
application.
1 . The Racing Commission shall
not grant an initial sports wagering license, unless the permit holder or the
owner and/or lessee of a former racetrack shall have demonstrated its financial
stability, integrity, and responsibility and its good character, honesty, and
integrity by clear and convincing evidence. In demonstrating its financial
stability, integrity, and responsibility, the permit holder or the owner and/or
lessee of a former racetrack shall submit to the Racing Commission information,
documentation, and assurances concerning its financial background and
resources. The permit holder or the owner and/or lessee of a former racetrack
shall document to the Racing Commission, by clear and convincing evidence, that
it is in compliance with the Division's rules promulgated pursuant to the Act
including, but not limited to, the rules applicable to the amount of cash
reserves that must be maintained by operators of sports pools.
2. The permit holder or the owner and/or
lessee of a former racetrack shall demonstrate that it is in good standing with
the Racing Commission and has complied with all statutes, rules, and orders of
the Racing Commission.
(d) The Racing Commission may refuse to issue
a license if it shall find that the permit holder or the owner and/or lessee of
a former racetrack has failed to demonstrate its suitability for an initial
sports wagering license by clear and convincing evidence.
1 . If the permit holder obtained a sports
wagering license pursuant to a transactional waiver, the permit holder shall be
granted up to 365 days from the date the sports wagering license was issued to
amend its application, correct any deficiencies, and demonstrate its
suitability for licensure. If the permit holder fails to demonstrate its
suitability for licensure, the sports wagering license shall expire.
(e) If the Racing Commission
approves the application for the grant of an initial sports wagering license,
the Racing Commission shall issue a final determination and order granting the
license with such conditions or terms the Racing Commission deems appropriate.
In imposing such conditions or terms, the Racing Commission shall order that
the permit holder or the owner and/or lessee of a former racetrack comply with
the Division's rules promulgated pursuant to the Act applicable to sports pools
and online sports pools including, but not limited to, those rules applicable
to persons or entities that must be licensed or registered with the Casino
Control Commission or the Division.
