Virginia Administrative Code
Title 11 - GAMING
Agency 10 - VIRGINIA RACING COMMISSION
Chapter 40 - SATELLITE FACILITIES
Part I - General Provisions
Section 11VAC10-40-60 - Majority ownership

Universal Citation: 1 VA Admin Code 10-40-60
Current through Register Vol. 41, No. 3, September 23, 2024

The commission shall require that the majority ownership of satellite facilities be restricted to an entity licensed by the commission that is (i) a significant infrastructure limited licensee or (ii) the nonprofit industry stakeholder organization recognized by the commission if by August 1, 2015, there is no significant infrastructure limited licensee or a pending application for such license. After the issuance of a license to own or operate a satellite facility to the nonprofit industry stakeholder organization, if the commission grants a license to a significant infrastructure limited licensee pursuant to § 59.1-376 of the Code of Virginia, then such limited licensee may own or operate the remaining available satellite facilities authorized in accordance with this section. In no event shall the commission authorize any such entities to own or operate more than a combined total of 10 satellite facilities. Nothing in this chapter shall be deemed to preclude private local ownership or participation in any satellite facility.

Statutory Authority: § 59.1-369 of the Code of Virginia.

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