2023 Colorado Revised Statutes › Title 44 - REVENUE - REGULATION OF ACTIVITIES (§§ 44-1-101 — 44-50-1001) › GAMING AND RACING (§§ 44-30-101 — 44-33-108) › Article 30 - COLORADO LIMITED GAMING ACT (§§ 44-30-101 — 44-30-1703) › Part 15 - SPORTS BETTING (§§ 44-30-1501 — 44-30-1519) › Section 44-30-1504 - [Effective 8/7/2024] Disclosure of information by corporate applicants - license required - investigation - criminal history record check - rules - definition

(1)
Corporate applicants for a sports betting license and licensees shall disclose to the commission, in a form and manner determined by the commission, the identity of:
(a)
Each board-appointed officer of the applicant or licensee;
(b)
Each director of the applicant or licensee;
(c)
Each person who directly holds any voting or controlling interest of ten percent or more, in the case of a sports betting operator license or internet sports betting operator license, or of any percentage, in the case of a master license, of the securities issued by the applicant or licensee;
(d)
Each person who directly holds any nonvoting or passive ownership interest of twenty-five percent or more of the securities issued by the applicant or licensee;
(e)
Each holding, intermediary, or subsidiary company of the applicant or licensee; and
(f)
Each lender from which the applicant or licensee currently has an outstanding loan.
(2)
As to each holding, intermediary, or subsidiary company of an applicant for a sports betting license or a licensee, the applicant or licensee shall establish and maintain the qualifications of:
(a)
Each board-appointed officer of the holding, intermediary, or subsidiary company;
(b)
Each director of the holding, intermediary, or subsidiary company;
(c)
Each person who directly holds any voting or controlling interest of ten percent or more, in the case of a sports betting operator license or internet sports betting operator license, or of any percentage, in the case of a master license, of the securities issued by the holding, intermediary, or subsidiary company;
(d)
Each person who directly holds any nonvoting or passive ownership interest of twenty-five percent or more in the holding, intermediary, or subsidiary company; and
(e)
Each lender from which the holding, intermediary, or subsidiary company currently has an outstanding loan.
(3)
The commission or the division may waive any or all of the qualification requirements for any person listed in subsection (1) or (2) of this section.
(4)
All persons employed directly in gambling-related activities conducted by a licensee or applicant for a sports betting license, whether in a casino, in a sports betting operation or internet sports betting operation, or in any other capacity, must be licensed under this part 15. Other employees of a licensee may be required to hold support licenses, if appropriate, in accordance with rules of the commission promulgated in consultation with the division.
(5)
A master licensee shall designate one or more key employees to be responsible for the operation of the sports betting operation. At least one such key employee shall be on the premises whenever sports betting is conducted.
(6)
The applicant for a sports betting license must submit to and pay the costs of any investigation into the background of an applicant. The division may conduct the investigation pursuant to section
44-30-204
.
(7)
(a)
Each applicant for a sports betting license, with or as a supplement to the application, shall submit a set of fingerprints to the division; except that an applicant whose primary residence is located outside of the United States is not required to satisfy this requirement unless the commission determines that the applicant is so required. The division shall forward the fingerprints to the Colorado bureau of investigation for the purpose of conducting a state and national fingerprint-based criminal history record check utilizing records of the Colorado bureau of investigation and the federal bureau of investigation. Only the actual costs of the record check shall be borne by the applicant. Nothing in this subsection (7) precludes the division from making further inquiries into the background of the applicant.
(b)
For purposes of this subsection (7), "applicant" means an individual or each officer or director of a firm, association, or corporation that is applying for a sports betting license pursuant to this section.
(8)
[Repealed by 2024 Amendment.]
Amended by 2024 Ch. 490,§ 98, eff. 8/7/2024.
Amended by 2022 Ch. 405, § 8, eff. 8/10/2022.
Amended by 2021 Ch. 386, § 4, eff. 6/30/2021.
Added by 2019 Ch. 347, § 12, eff. 8/2/2019.
L. 2019: Entire part added, (HB 19-1327), ch. 3220, p. 3220, § 12, effective August 2. L. 2021: (7)(a) amended, (HB 21-1296), ch. 2586, p. 2586, § 4, effective June 30.
2024 Ch. 490, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
2022 Ch. 405, was passed without a safety clause. See Colo. Const. art. V, § 1(3).
This section is set out more than once due to postponed, multiple, or conflicting amendments.