Michigan Administrative Code › Department - Treasury › Michigan Gaming Control Board › Michigan Gaming Control Board - Administrative Rules - Casino Gaming (Parts 1-16) › Part 3 - LICENSES › Section R. 432.1306 - Casino license application

Current through Vol. 24-12, July 15, 2024
Rule 306.
(1) A
				  person applying for a casino license and a person required to be qualified as
				  part of the application shall complete and submit an application and disclosure
				  form or forms in the manner and form prescribed by the board. .
(2) The casino license application procedures
				  are as follows:
(a) Upon application, an
				  applicant shall assume and accept, in writing, under oath, all risk of adverse
				  publicity, notoriety, embarrassment, criticism, financial loss, or other
				  unfavorable or harmful consequences that may occur in connection with the
				  application process or the public disclosure of information submitted with the
				  application and disclosure form or forms.
(b) Upon application, an applicant shall also
				  expressly waive and give up, in writing, under oath, all claims for damages
				  that may result from the application and licensing process.
(c) Upon application, an applicant shall also
				  consent, in writing, under oath, to being subject to the inspections,
				  investigations, audits, searches, and seizures under section 4a(1)(c)(i) to (v)
				  of the act, MCL 432.204a, for the duration of the casino license for which
				  application is made.
(d) Upon
				  applying for, or while holding, a casino license under the act and these rules,
				  an applicant or licensee shall also authorize and consent, in writing, under
				  oath, to release and disclose, to the board and its authorized representatives
				  and agents, all otherwise confidential records that the board requests that are
				  in the possession or control of the applicant or a third party, including,
				  without limitation, tax records, financial records, business records or other
				  records pertaining to the applicant or licensee held by a federal, state, or
				  local governmental agency or by a credit bureau or financial institution. The
				  applicant and licensee shall also authorize and consent, in writing, under
				  oath, to board disclosure in accordance with section 4c(5) of the act, MCL
				  432.204c.
(e) The board shall
				  conduct a background investigation on an applicant. The board shall also use
				  the information provided in the application and disclosure form or forms as a
				  basis for a background investigation and to evaluate and determine the
				  eligibility, qualifications, and suitability of the applicant to receive the
				  casino license under the licensing standards and criteria provided in the act
				  and these rules. A misrepresentation or omission in the application is cause
				  for the denial, suspension, restriction, or revocation of a casino license by
				  the board.
(f) An applicant shall
				  provide the name, address, and telephone number of a representative to act as a
				  liaison to the board. The applicant shall facilitate, assist, and cooperate
				  with the board and the state police in their conduct of background
				  investigations of the applicant under the act and these rules.
(g) The board shall not issue or renew a
				  casino license unless the applicant and each person required to be qualified as
				  part of the application for issuance or request for renewal of the license has
				  completed and filed with the board all required applications, license renewal
				  forms, and disclosure forms in the manner and form prescribed by the board and
				  has provided all information, documentation, assurances, waivers, and releases
				  required by the act and these rules.
(h) An applicant shall file required
				  application forms before the expiration of deadlines established by the
				  board.
(i) An applicant is under a
				  continuing duty to disclose any material or substantive changes in the
				  information or documentation provided in or with the application, renewal, and
				  disclosure forms submitted to the board.
(j) A person applying for a casino license
				  shall request an amendment to its application if it knows or should have known
				  that there has been a change in any of the following:
(i) The applicant's key persons or the key
				  persons of its holding companies or affiliates that have control of the
				  applicant.
(ii) Type of business
				  organization or entity.
(iii) An
				  adverse change of more than 2 percentage points in capitalization or debt to
				  equity ratio.
(iv) Investors or
				  debt holders, or both.
(v) The
				  source of funds. A publicly traded corporation is considered to have complied
				  with this subdivision if it has complied with the reporting requirements in
				  R
				  432.1406.
(k) A casino license application may be
				  withdrawn upon written notice to the board before board action on the
				  application if all background investigation costs of the board have been paid
				  in full by the applicant.
(l) If a
				  casino license application is withdrawn, then the person who made the
				  application for the license may not reapply for a casino license within 1 year
				  from the date of withdrawal unless the board grants leave to reapply at an
				  earlier date.
(m) The board may
				  allow information, documents, or other materials submitted by an applicant in a
				  withdrawn application to be incorporated by reference into a subsequent
				  application.