Ill. Admin. Code tit. 86 § 3000.237

Current through Register Vol. 48, No. 42, October 18, 2024

Section 3000.237 - Renewed Owner's Licenses, Term and Restrictions

a) Unless otherwise provided by the Board pursuant to this Section, renewed Owner's licenses shall be for a term of 4 years.

b) Upon issuing a renewed Owner's license, the Board may restrict the term of the renewal to any period of less than 4 years, and may impose additional restrictions and conditions on the renewed license. In deciding whether to issue a restricted license, the Board shall consider:

1) The standards applied under Section 3000.236(b) in renewing a license;

2) The business practices and regulatory history in Illinois and other jurisdictions of the licensee, its Key Persons and affiliates;

3) The licensee's reputation and associations; and

4) Any other information considered by the Board to be relevant to renewal of the license.

c) If, at the conclusion of a renewal period for licensees restricted on renewal, the Board deems that the licensee has addressed or corrected the reasons for the restriction, the Board may renew the license for up to 4 years. If the Board determines the licensee has not corrected the reasons for the restriction, the Board may issue another license restricted on renewal, refuse to renew the license, or impose other disciplinary action authorized under Section 5 of the Act.

d) During the term of any Owner's license that is for more than one year, the licensee shall annually submit the fee required under Section 3000.210, together with an affidavit attesting to the accuracy of all information previously submitted to the Board, certifying any changes in the information previously submitted, and verifying the following information:

1) Any and all past or pending disciplinary action taken against the licensee or its parent corporation, or parent's subsidiaries, in other jurisdictions;

2) The most recent year end financial statements, and the most recent Form 10K and 10Q filings with the Securities and Exchange Commission by the licensee and its parent company if they are publicly held corporations;

3) Disclosure of any past or pending material litigation involving the licensee, its parent corporation and subsidiaries, and any Key Person;

4) Any plans for changes in the financing, ownership or organization of the licensee;

5) Compliance by the licensee in making all required payments of federal and State taxes; and

6) Any additional information required by the Board.

e) Any bankruptcy, liquidation, reorganization, cessation of gaming operations, or substantial change in the ownership or control of an Owner's license, or an event that adversely affects the character, reputation or financial integrity of the licensee, at any time during the 4 year term of a license, or any restricted term of less than 4 years, may cause the Board to suspend, restrict or revoke the license or impose other discipline authorized under Section 5 of the Act. The Board may assign the licensee a restricted license and impose other conditions appropriate to the circumstances and deemed necessary by the Board to maintain public confidence in the credibility and integrity of a riverboat gaming operation as required by Section 2(b) of the Act.

Ill. Admin. Code tit. 86, § 3000.237

Added at 23 Ill. Reg. 1037, effective January 1, 2000