Iowa Administrative Code › Agency 491 - Racing and Gaming Commission › Chapter 11 - Gambling Games › Rule 491-11.1 - Definitions

Current through Register Vol. 47, No. 3, July 24, 2024
"Administrator"
means the administrator of the
				racing and gaming commission or the administrator's designee.
"Coin"
means tokens, nickels, and quarters of
				legal tender.
"Commission"
means the racing and gaming
				commission.
"Currency"
means any coin or paper money of
				legal tender and paper forms of cashless wagering.
"Discount rate"
means either the current prime
				rate as published in the Wall Street Journal or a blended rate computed by
				obtaining quotes for the purchase of qualified investments at least three times
				per month.
"Distributor's license"
means a license issued
				by the administrator to any entity that sells, leases, or otherwise distributes
				gambling games or implements of gambling to any entity licensed to conduct
				gambling games pursuant to Iowa Code chapter 99F.
"Facility"
means an entity licensed by the
				commission to conduct gaming operations in Iowa.
"Facility grounds"
means all real property
				utilized by the facility in the conduct of its gaming activity, including the
				grandstand, concession stands, offices, parking lots, and any other areas under
				the jurisdiction of the commission.
"Gambling game"
means any game of chance
				approved by the commission for wagering, including, but not limited to,
				gambling games authorized by this chapter.
"Government sponsored enterprise debt
				instrument"
means a negotiable, senior, noncallable debt obligation
				issued by an agency of the United States or an entity sponsored by an agency of
				the United States that on the date of funding possesses an issuer credit rating
				equivalent to the highest investment grade rating given by Standard &
				Poor's or Moody's Investment Services.
"Implement of gambling"
means any device or
				object determined by the administrator to directly or indirectly influence the
				outcome of a gambling game; collect wagering information while directly
				connected to a gambling game; facilitate the operation of an electronic
				wagering account as defined by rule 491-12.1(99F); or be integral to the
				conduct of a commission-authorized gambling game.
"Independent financial institution"
means a
				bank approved to do business in the state of Iowa or an insurance company
				admitted to transact insurance in the state of Iowa with an A.M. Best insurance
				rating of "A" or other equivalent rating.
"Manufacturer's license"
means a license
				issued by the administrator to any entity that assembles, fabricates, produces,
				or otherwise constructs a gambling game or implement of gambling used in the
				conduct of gambling games pursuant to Iowa Code chapter 99F.
"Present value"
means the current value of a
				future payment or series of payments, discounted using the discount
				rate.
"Qualified investment"
means an Iowa state
				issued debt instrument, a United States Treasury debt instrument or a
				government sponsored enterprise debt obligation.
"Reserve"
means an account with an independent
				financial institution or brokerage firm consisting of cash, qualified
				investments, or other secure funding method approved by the administrator used
				to satisfy periodic payments of prizes.
"Slot machine"
means a mechanical or
				electronic gambling game device into which a player may deposit currency or
				forms of cashless wagering and from which certain numbers of credits are
				awarded when a particular configuration of symbols or events is displayed on
				the machine.
"Storage media"
means EPROMs, ROMs,
				flash-ROMs, DVDs, CD-ROMs, compact flashes, hard drives and any other types of
				program storage device.