New Mexico Administrative Code
Title 15 - GAMBLING AND LIQUOR CONTROL
Chapter 1 - GAMES AND GAMING GENERAL PROVISIONS
Part 5 - APPLICATION FOR LICENSURE UNDER THE GAMING CONTROL ACT
Section 15.1.5.14 - BUSINESS PLAN
Universal Citation: 15 NM Admin Code 15.1.5.14
Current through Register Vol. 35, No. 18, September 24, 2024
A. The applicant for a gaming operator's license shall submit with the application a proposed business plan for the conduct of gaming. The plan shall include the following:
(1) an 8-1/2" x 11" drawing to
scale of the building in which the applicant proposes to conduct gaming, with
the area designated as the proposed licensed premises clearly
outlined;
(2) a description of the
type and number of gaming machines proposed for operation, including details of
machine features, such as whether the machines are video versus spinning reel
or are coin-in/coin-out versus coin-in/credit-out machines;
(3) generic description of the games to be
played on the machines and the proposed placement of the machines on the
licensed premises;
(4)
administrative, accounting, and internal control procedures, including monetary
control operations;
(5) security
plan;
(6) staffing plan for gaming
operations, including identification of key executives and employees;
(7) advertising and marketing plan;
(8) method to be used for prize
payouts;
(9) details of any
proposed progressive systems;
(10)gaming protection plan; and
(11)any other information requested by the
board or its agents.
B. The business plan must provide for the following accounts:
(1) an escrow account or accounts to be
established and maintained in accordance with board requirements for the
purpose of holding in reserve large or progressive prizes to be won by
participants; and
(2) a depository
account exclusively for the collection and payment of the gaming tax in
accordance with the provisions of the Tax Administration Act, Chapter 7,
Article 1 NMSA 1978.
C. The business plan shall provide for payment from gaming machines such that the payouts are not less than eighty percent over the lifetime of the machine.
D. A gaming operator's license shall not be granted unless the board first determines that the business plan submitted is suitable for the type of operation proposed and otherwise complies with the requirements of the act and this rule.
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