Okla. Admin. Code § 325:10-1-5

Current through Vol. 42, No. 4, November 1, 2024

Section 325:10-1-5 - Economic standard

(a) It is presumed, based on past and current figures from similar and surrounding racing markets, that the Oklahoma gaming market shall not be sufficient to justify the licensing of more than one major and one non-major racing facility until such time as the combined annual gross handle of a major and non-major track exceeds Two Hundred Thirty Million Dollars ($230 million) in any two calendar years. At such time as this combined handle of Two Hundred Thirty Million Dollars ($230 million) is achieved, it shall be presumed that the Oklahoma gaming market is sufficient to support additional racing facilities. The presumptions established in this Section shall be rebuttable, and any applicant for a racing facility shall be found to have rebutted either presumption upon the presentation of substantial evidence that a gaming market exists for the proposed facility and that licensing of the proposed facility will not result in oversaturation of the gaming market.

(b) In any year that ninety-five percent (95%) of the aggregated handle has been achieved, the Commission shall survey and analyze the market toward determining whether there is a market for one or more additional pari-mutuel racing facilities in the state.