reglab/statecodes huggingface dataset:
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 25 - Transfers of Interest in the Casino Operator, Licensees, and Permittees; Loans and Restrictions › Section III-2505 - Transfer of Interest; Publicly Traded Securities

Current through Register Vol. 50, No. 6, June 20, 2024
A. Each person, other than an institutional
				investor as defined in the Act, who individually, or in association with
				others, acquires an ownership or economic interest of 5 percent or more of any
				class of publicly traded voting securities of a licensee, permittee, casino
				operator or casino manager, or an affiliate, shall submit all required
				applications to the board or division for a determination of qualification and
				suitability in accordance with the Act and rules. The application for the
				suitability determination shall be filed within 30 days of acquisition of the
				securities.
B. An institutional
				investor as defined by the Act who individually, or in association with others,
				acquires an ownership or economic interest of 5 percent or more of any class of
				publicly traded voting securities of a licensee, permittee, casino operator or
				casino manager, or an affiliate, shall notify the board or division within 10
				business days after the acquisition of the voting securities. Upon receipt of
				the notice, the division shall determine if the institutional investor has
				previously submitted the certification required by
				R.S.
				27:27. If the institutional investor does not
				have a valid certification on file, it shall submit the required certification
				documents within 30 days of receiving written notice from the
				division.
C. The licensee,
				permittee, casino operator or casino manager shall provide notice to the board
				and division within 5 days of obtaining knowledge of the accumulation of an
				ownership interest of 5 percent or more of any class of publicly traded voting
				securities of the licensee, permittee, casino operator or casino manager, or an
				affiliate.
D. If the board finds
				that the holder of the security is not qualified and suitable in accordance
				with the Act and rules, the holder of the security shall not receive dividends
				or interest on the security, exercise directly or indirectly any right
				conferred by the security, receive any remuneration or economic benefit or
				continue in ownership of the security. Within 30 days of the finding that the
				holder is not qualified and suitable, the issuer of the security shall purchase
				the security from the holder for the lesser of the current fair market value or
				the original purchase price.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  27:15 and
				  24.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 25 - Transfers of Interest in the Casino Operator, Licensees, and Permittees; Loans and Restrictions › Section III-2506 - Prohibited Transfers; Licensed Eligible Facility; Casino Operator

Current through Register Vol. 50, No. 6, June 20, 2024
A. The transfer of
				more than 50 percent ownership or economic interest or a transfer that has the
				effect of transferring control in a licensed eligible facility is
				prohibited.
B. The casino operator
				shall not transfer the casino operating contract or any interest therein, or
				subcontract the performance of any of the casino operator's duties or
				obligations thereunder, to any person without first obtaining the approval of
				the board.
C. Except a transfer to
				a leasehold mortgagee in compliance with the casino lease or in connection with
				the initial plan financing or other approved financing or a transfer pursuant
				to section 23. 6(g) of the casino operating contract, the casino operator shall
				not voluntarily or involuntarily transfer the casino lease, or any interest
				therein, to any person without first obtaining the approval of the
				board.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  27:15 and
				  24.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 25 - Transfers of Interest in the Casino Operator, Licensees, and Permittees; Loans and Restrictions › Section III-2507 - Stock Restrictions

Current through Register Vol. 50, No. 6, June 20, 2024
A. Unless
				otherwise expressly approved by the board, all ownership securities or stock
				issued by a licensee, permittee, casino operator or casino manager shall bear
				on both sides of the certificate a statement of the restrictions containing the
				following inscription:
1. "The purported sale,
				assignment, transfer, pledge or other disposition of this security must receive
				prior approval of the Louisiana Gaming Control Board. The purported sale,
				assignment, transfer, pledge or other disposition, of any security or shares
				issued by the entity issuing this security is void unless approved in advance
				by the Louisiana Gaming Control Board. If at any time an individual owner of
				any such security is determined to be unsuitable under the Act and rules to
				continue as a permittee or suitable person, the issuing entity shall ensure
				that such person or persons may not receive any dividend or interest upon any
				such security, exercise, directly or indirectly through any trustee or nominee,
				any voting right conferred by such security, receive remuneration in any form
				from the entity or an affiliate for services rendered or otherwise, receive any
				economic benefit from the entity or an affiliate, or continue in an ownership
				or economic interest in the entity or function as a manager, officer, director
				or partner in the entity."
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 25 - Transfers of Interest in the Casino Operator, Licensees, and Permittees; Loans and Restrictions › Section III-2508 - Notice of Significant Regulatory Violation; Application of Sanction to Transferee

Current through Register Vol. 50, No. 6, June 20, 2024
A. In the
				event the division institutes an administrative action against a licensee,
				permittee, casino operator or casino manager which involves an alleged
				significant violation of the Act or rules, the division may, at the time of
				instituting the action or any time thereafter, file a notice of significant
				violation in accordance with the terms of this Section. The filing of the
				notice of significant violation shall serve as actual and constructive notice
				of the pending proceeding to any person and bind them in accordance with
				Subsection C of this Section.
B.
				The division may apply to the hearing officer for the issuance of a notice of
				significant violation. A notice of significant violation shall issue upon
				written application of the division specifying facts establishing that there
				are reasonable grounds to believe that the licensee, permittee, casino operator
				or casino manager has violated the Act or rules and that such alleged violation
				could lead to a civil penalty or the suspension or revocation of any license or
				permit or the termination of any contract. If accepted by the hearing officer
				as complying with the terms of this Section, the notice of significant
				violation shall be filed with the board which shall maintain a separate notice
				of significant violation index as a public record.
C. Any sale, assignment, transfer, pledge or
				other disposition of an ownership or economic interest in a licensee,
				permittee, casino operator or casino manager that takes place after the filing
				of the notice of significant violation shall render the transferee responsible
				and subject to any sanction subsequently imposed upon the licensee, permittee,
				casino operator or casino manager based upon any conduct described in the
				notice of significant violation.
D.
				If, after hearing, there is a determination that the grounds for the notice of
				the significant violation do not exist, the notice of significant violation
				shall be canceled and be of no effect.
E. Nothing herein shall be construed to limit
				the division or board with respect to any other right or remedy provided by the
				Act or rules.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  27:15 and
				  24.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 25 - Transfers of Interest in the Casino Operator, Licensees, and Permittees; Loans and Restrictions › Section III-2509 - Emergency Situations

Current through Register Vol. 50, No. 6, June 20, 2024
A. If a
				transfer of interest which requires prior board approval under this Chapter is
				contemplated, and in the opinion of the board, the exigencies of the situation
				require that the proposed transferee be permitted to take part in the conduct
				of operations or to make available financing or other credit for use in
				connection with such operation during the pendency of an application for
				approval of the transfer of interest, then the board may by emergency order
				implement the emergency procedures described in
				§2510 of this Chapter.
B. An emergency as used in this Chapter may
				be deemed to include, but is not limited to any of the following:
1. the licensee, permittee, casino operator,
				casino manager or person who was required to be qualified and suitable in
				accordance with the Act and rules has died or has been declared legally
				incompetent;
2. the licensee,
				permittee, casino operator, casino manager or person who was required to be
				qualified and suitable in accordance with the Act and rules is a legal entity
				that has been dissolved by operation of law;
3. the licensee, permittee, casino operator,
				casino manager or person who was required to be qualified and suitable in
				accordance with the Act and rules has filed a petition of bankruptcy, or in the
				opinion of the board, is or will likely become insolvent;
4. the license or permit has been suspended
				or revoked;
5. a person with an
				interest in the licensee, permittee, casino operator, casino manager or person
				who was required to be qualified and suitable in accordance with the Act and
				rules no longer meets the suitability requirements of the Act and
				rules;
6. the licensee, permittee,
				casino operator, casino manager or person who was required to be qualified and
				suitable in accordance with the Act and rules, or an interest in a licensee,
				permittee, casino operator or casino manager is subject to foreclosure or other
				forced sale permitted by law; or
7.
				any other emergency circumstance that is approved by the board.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 25 - Transfers of Interest in the Casino Operator, Licensees, and Permittees; Loans and Restrictions › Section III-2510 - Emergency Procedures

Current through Register Vol. 50, No. 6, June 20, 2024
A. A
				proposed transferee who seeks to participate in an operation pursuant to an
				emergency order of the board must submit a written request to the board which
				shall contain the following:
1. a complete
				description of the extent to which and the manner in which the proposed
				transferee will participate in the operations pending the completion of the
				proposed transfer of interest;
2. a
				complete description of the plan for effecting the proposed transfer of
				interest;
3. a complete financial
				statement, including the sources for all funds to be used in the transfer and
				that will be used in the participation prior to completion of the
				transfer;
4. full, true and correct
				copies of all documents pertaining to the proposed transfer, including but not
				limited to all agreements between the parties, leases, notes, mortgages or
				deeds of trust, and pertinent agreements or other documents with or involving
				third parties;
5. a complete
				description of any and all proposed changes in the manner or method of
				operations, including but not limited to the identification of all proposed
				changes of and additions to supervisory personnel;
6. all such additional documentation and
				information as may be requested by the board; and
7. a certification that a copy of the request
				for emergency participation has been provided to the board.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 25 - Transfers of Interest in the Casino Operator, Licensees, and Permittees; Loans and Restrictions › Section III-2511 - Emergency Permission to Participate; Investigation; Extent of Participation

Current through Register Vol. 50, No. 6, June 20, 2024
A. After
				receipt of a proper application for emergency permission to participate, the
				division shall determine if all necessary documents and information have been
				provided by the transferee. If the division determines all necessary documents
				and information have been provided by the proposed transferee, then the
				division shall notify the proposed transferee of that fact in a manner deemed
				appropriate by the board.
B. After
				the notice required by Subsection A of this Section has been provided to the
				proposed transferee, the division shall commence the background investigation
				of the proposed transferee. The division may request such additional documents
				and information during the investigation as it deems necessary. Upon conclusion
				of the background investigation, the board may grant or deny the request for
				emergency participation. No hearing will be granted to review the denial of a
				request for emergency participation. Any conditions imposed by the board on the
				proposed transferee must be accepted by the proposed transferee in a manner
				approved by the board prior to the board granting a request for emergency
				participation.
C. Emergency
				permission to participate shall be defined with respect to time and shall be
				limited as follows.
1. Pending final action
				on the application to approve transfer of interest, the existing licensee,
				permittee, casino operator, casino manager or person who has met the
				suitability requirements of the Act and rules and the proposed transferee
				approved for emergency participation shall both be responsible for the payment
				of all taxes, fees and fines, and the acts or omissions of each.
2. No proposed transferee who has been
				granted emergency permission to participate shall receive any portion of the
				gross or net gaming revenue from the gaming operations until final approval of
				the proposed transfer of interest has been granted. If approval is granted,
				such approval shall be retroactive to the effective date of the emergency
				participation.
3. A proposed
				transferee who has been granted emergency permission to participate and who
				actually renders services to the gaming operation or permitted operation may be
				compensated for any services actually rendered, but such compensation is
				subject to prior written approval of the board.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 25 - Transfers of Interest in the Casino Operator, Licensees, and Permittees; Loans and Restrictions › Section III-2512 - Effect of Permission to Participate; Withdrawal

Current through Register Vol. 50, No. 6, June 20, 2024
A. The granting of emergency permission to
				participate is a revocable privilege. The granting of emergency permission to
				participate is not a finding by the board that the applicant for emergency
				participation is qualified and suitable in accordance with the Act and rules.
				Such emergency permission to participate is without prejudice to any action
				that the division or board may take with respect to any application for
				approval of the proposed transfer of interest. All emergency permissions to
				participate are subject to the condition that they may be revoked or suspended
				at any time without a right to a hearing to review the board's decision. The
				provisions contained in this Section are to be considered a part of any
				emergency participation granted by the board whether or not they are included
				in the order granting such emergency participation.
B. Upon notice that the emergency permission
				to participate has been withdrawn, suspended or revoked, the proposed
				transferee shall immediately terminate any participation whatsoever in the
				operations of the licensee, permittee, casino operator, casino manager or
				person required to meet the suitability requirements of the Act and rules.
				Anything of value, including money, contributed to the operations of the
				licensee, permittee, casino operator, casino manager or person required to meet
				the suitability requirements of the Act and rules shall be immediately returned
				to the proposed transferee. Non-compliance with this Section shall be
				considered a violation of the Act and rules.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  27:15 and
				  24.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 25 - Transfers of Interest in the Casino Operator, Licensees, and Permittees; Loans and Restrictions › Section III-2513 - Escrow Accounts

Current through Register Vol. 50, No. 6, June 20, 2024
A. No money or
				other thing of value shall be paid, remitted, or distributed, directly or
				indirectly, to a proposed transferee, including a transferee with emergency
				permission to participate, until the board has approved the transfer and
				transferee.
B. All money or other
				things of value to be paid, remitted, or distributed, directly or indirectly,
				to a proposed transferee, including a transferee with emergency permission to
				participate, shall be placed in escrow in a manner acceptable to the board
				until the board has approved the transfer and transferee.
C. Upon approval of the transfer and
				transferee, the money or other thing of value held in escrow may be distributed
				to the transferee.
D. If a transfer
				or transferee is disapproved by the board, any money or thing of value placed
				in escrow shall be returned to the person depositing the money or other thing
				of value in escrow.
E. A transferee
				with emergency permission to participate may be paid such compensation for
				services rendered as has been approved by the board in writing without such
				compensation being placed in escrow.
F. Any violation of this Section shall be
				grounds to deny the transfer and disapprove the transferee.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  27:15 and
				  24.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 25 - Transfers of Interest in the Casino Operator, Licensees, and Permittees; Loans and Restrictions › Section III-2521 - Financial Transaction; Incurring Debt

Current through Register Vol. 50, No. 6, June 20, 2024
A. No licensee, casino operator, casino
				manager or an affiliate shall enter into a debt transaction except in
				accordance with these regulations.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  27:15 and
				  R.S.
				  27:24.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 25 - Transfers of Interest in the Casino Operator, Licensees, and Permittees; Loans and Restrictions › Section III-2522 - Definitions

Current through Register Vol. 50, No. 6, June 20, 2024
Affiliate
- a person that directly or
				  indirectly through one or more intermediary or holding company, controls, or is
				  controlled by, or is under common control with the licensee, casino operator or
				  casino manager and is involved in gaming activities in this state or involved
				  in the ownership of property in this state upon which gaming activities are
				  conducted.
Debt Transaction
- a transaction in which the
				  licensee, casino operator, casino manager or an affiliate incurs debt,
				  including, but not limited to the following:
1. loans, lines of credit or similar financing;
2. public and private debt offerings; or
3. any transaction that provides guarantees, grants a form of
				  security or encumbers assets of the licensee, casino operator or casino manager
				  or an affiliate.
Publicly Traded Company
- any person, other
				  than an individual, that:
1. has one or more voting securities registered under Section
				  12 of the Securities and Exchange Act of 1934, as amended;
2. is an issuer of securities subject to Section 15(d) of the
				  Securities and Exchange Act of 1934, as amended; or
3. has one or more classes of securities exempted from the
				  registration requirements of section 5 of the Securities Act of 1933, as
				  amended, solely by reason of an exemption contained in section 3(a)(10),
				  3(a)(11), or 3(c) of the Securities Act of 1933, as amended.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  27:15 and
				  R.S.
				  27:24.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 25 - Transfers of Interest in the Casino Operator, Licensees, and Permittees; Loans and Restrictions › Section III-2523 - Notice of Debt Transaction; Board

Current through Register Vol. 50, No. 6, June 20, 2024
A. Except as provided in §2525, whenever a
				licensee, casino operator, casino manager or an affiliate proposes to enter
				into a debt transaction, written notice shall be provided to the board no less
				than 20 calendar days prior to the proposed transaction. The notice shall be
				signed under oath by an authorized representative and shall include:
1. names and addresses of all parties to the
				transaction;
2. amount and source
				of funds;
3. nature and amount of
				security and collateral provided;
4. specific nature and purpose of the
				transaction; and
5. term sheet or
				executive summary of the transaction.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 25 - Transfers of Interest in the Casino Operator, Licensees, and Permittees; Loans and Restrictions › Section III-2524 - Registered Securities: Private Placement

Current through Register Vol. 50, No. 6, June 20, 2024
A. Board approval is not required for the
				following transactions:
1. sales of
				securities to be registered with the Securities and Exchange Commission and
				sold pursuant to an underwriters' agreement;
2. private placement offerings with
				registration rights under Rule 144A and Regulation S promulgated by the
				Securities and Exchange Commission and sold pursuant to a purchase agreement
				with initial purchasers.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 25 - Transfers of Interest in the Casino Operator, Licensees, and Permittees; Loans and Restrictions › Section III-2525 - Shelf Application

Current through Register Vol. 50, No. 6, June 20, 2024
A. An
				affiliate which is a publicly traded company may apply to the board for shelf
				approval of debt transactions if it has:
1. a
				class of securities listed on either the New York Stock Exchange (NYSE), the
				American Stock Exchange (ASE) or the National Association of Securities Dealers
				Automatic Quotation System (NASDAQ), or has stockholders' equity in the amount
				of $15 million or more as reported in its most recent report on Form 10-K or
				Form 10-Q filed with the Securities Exchange Commission (SEC) immediately
				preceding application; and
2. filed
				all reports required to be filed by section 13, or section 15(d) of the
				Securities and Exchange Act of 1934 during the preceding 12 months, or for such
				a shorter period that the affiliate has been required to file such
				reports.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 25 - Transfers of Interest in the Casino Operator, Licensees, and Permittees; Loans and Restrictions › Section III-2526 - Limitation on Financing; Incurring Debt; Casino Operator

Current through Register Vol. 50, No. 6, June 20, 2024
A. In accordance with section 13.6 of the
				casino operating contract and except as provided in §2523,
				§2524 and
				§2525 of these regulations, the casino
				operator or its financing affiliate may obtain debt only from a lender found
				suitable by the board and only after obtaining approval of the financing by the
				board. Board approval shall not be required for financing obtained from a
				lender previously found suitable by the board or from a lender who is a
				suitable lender as defined in the casino operating contract if:
1. principal amount of the debt incurred in
				the financing does not exceed the sum of:
a.
				debt retired with the proceeds of financing;
b. projected cost of capital improvements to
				be funded with the proceeds of the financing; and
c. customary transaction costs relating to
				the financing; or
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 27 - Accounting Regulations › Section III-2701 - Procedure for Reporting and Paying Gaming Revenues and Fees

Current through Register Vol. 50, No. 6, June 20, 2024
A. All gaming revenue summary reports,
				together with all necessary subsidiary schedules, shall be submitted to the
				division no later than 48 hours from the end of the licensee's or casino
				operator's specified gaming day in a manner specified by the division.
1. For reporting purposes, the licensee's
				specified gaming day shall be submitted in writing to the division for approval
				prior to implementation.
2. Each
				licensee or casino operator shall have only one gaming day common to all its
				departments. Any change to the gaming day shall be submitted to the division 10
				days prior to implementation of the change.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 27 - Accounting Regulations › Section III-2703 - Accounting Records

Current through Register Vol. 50, No. 6, June 20, 2024
A. The
				following requirements shall apply throughout this Chapter.
1. Each licensee and casino operator, in such
				manner as the division may approve or require, shall keep accurate, complete,
				legible, and permanent records of all transactions pertaining to revenue that
				is taxable or subject to fees under the Act.
2. Each licensee and casino operator shall
				keep records of all transactions including, but not limited to, contracts or
				agreements with suppliers/vendors, contractors, consultants, attorneys,
				accounting firms; accounts/trade payable files; insurance policies; and bank
				statements, reconciliations and canceled checks or legible copies
				thereof.
3. Each licensee and
				casino operator that keeps permanent records using a computer or microfiche
				system shall, upon request, immediately provide division agents with a detailed
				index to the microfiche or computer record that is indexed by casino department
				and date, and provide the division agent with access to a computer or
				microfiche reader. Only documents which do not contain original signatures
				required by these rules may be kept in a microfiche or computer
				system.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 27 - Accounting Regulations › Section III-2704 - Reporting of Gaming Positions

Current through Register Vol. 50, No. 6, June 20, 2024
A. On a
				quarterly basis, a licensee and casino operator shall provide a report to the
				division, no later than the 10th day following the reported quarter, containing
				the number of slot machines and table games along with a total number of gaming
				positions in its designated gaming area, which shall be certified by its
				general manager In accordance with
				R.S.
				27:65(B)(15), licensees may
				conduct no more than four tournaments, each no more than 14 days in length, per
				year in which the gaming positions utilized for tournament play are not
				considered part of the licensees total number of gaming positions.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  27:15 and 24.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 27 - Accounting Regulations › Section III-2705 - Records of Ownership

Current through Register Vol. 50, No. 6, June 20, 2024
A. Each
				licensee or casino operator that is a corporation shall keep on the premises of
				its gaming establishment, or other premises as approved by the division, the
				following documents pertaining to the corporation:
1. a certified copy of the articles of
				incorporation and any amendments;
2. a copy of the bylaws and any
				amendments;
3. a copy of the
				certificate issued by the Louisiana Secretary of State authorizing the
				corporation to transact business in Louisiana;
4. the address of registered office and
				agent(s);
5. a list of all current
				and former officers and directors;
6. a certified copy of minutes of all
				meetings of the stockholders;
7. a
				certified copy of minutes of all meetings of the directors;
8. a list of all stockholders listing each
				stockholder's name, birth date, Social Security number, address, the number of
				shares held, and the date the shares were acquired;
9. the stock certificate ledger;
10. a record of all transfers of the
				corporation's stock;
11. a record
				of amounts paid to the corporation for issuance of stock and other capital
				contributions; and
12. a schedule
				of all salaries, wages, and other remuneration (including perquisites), direct
				or indirect, paid during the calendar or fiscal year by the corporation to all
				officers, directors, and stockholders with an ownership interest at any time
				during the calendar or fiscal year equal to 5 percent or more of the
				outstanding capital stock of any class of stock.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 27 - Accounting Regulations › Section III-2707 - Record Retention

Current through Register Vol. 50, No. 6, June 20, 2024
A. Upon request
				and at a location designated by the division, each licensee and casino operator
				shall provide the division with the records required to be maintained by this
				Chapter. Each licensee and casino operator shall retain all such records for a
				minimum of five years in a location approved by the division. In the event of a
				change of ownership, records of prior owners shall be retained in a location
				approved by the division for a period of five years unless a different period
				is authorized by the division. Electronic records may be maintained in other
				locations if access to the records is available on computers located at the
				casino premises or other location approved by the division.
B. Each licensee and casino operator shall
				conduct a complete system data backup to an off-site location a minimum of once
				a month. For purposes of this Section, the licensee and casino operator shall
				submit the name, location, and security controls of the off-site storage
				facility to the division. Licensees and the casino operator shall submit
				changes to the location and security controls of the off-site storage facility
				at least 30 days prior to the change. Any changes less than 30 days in advance
				must include justification for the late submission. A complete system data
				backup includes, but is not limited to:
1.
				all automated slot data information;
2. all automated table game
				information;
3. all automated cage
				and credit information; and
4. all
				automated revenue reports.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 27 - Accounting Regulations › Section III-2709 - Standard Financial Statements

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				The division may prescribe a uniform chart of accounts including account
				classifications in order to insure consistency, comparability, and appropriate
				disclosure of financial information. The prescribed chart of accounts shall be
				the minimum level of detail to be maintained for each accounting classification
				by the licensees or casino operator. A licensee or casino operator shall
				prepare its financial statements in accordance with the division's chart of
				accounts or the licensee's or casino operator's chart of accounts if the
				division does not prescribe a chart of accounts.
B. A licensee and casino operator shall
				furnish to the division on a form, as prescribed by the division, a quarterly
				financial report. The quarterly financial report shall also present all data on
				a monthly basis. Monthly financial reports shall include reconciliation of
				general ledger amounts with amounts reported to the division. The quarterly
				financial report shall be submitted to the division no later than 60 days
				following the end of each quarter.
C. A licensee or casino operator shall submit
				to the division one copy of any report including, but not limited to, Forms
				S-1, 8-K, 10-Q, and 10-K, required to be filed with the Securities and Exchange
				Commission or other domestic or foreign securities regulatory agency by the
				licensee or casino operator, and their holding company, intermediate company,
				or parent company. These reports shall be delivered to the division within 15
				days of the time of filing with such commission or agency or within 15 days of
				the due date prescribed by such commission or regulatory agency, whichever
				comes first.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  27:15 and
				  24.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 27 - Accounting Regulations › Section III-2711 - Audited Financial Statements

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Each licensee and casino operator shall submit to the division, in a manner
				prescribed by the division, audited financial statements reflecting all
				financial activities of the licensee's or casino operator's establishment
				prepared in accordance with generally accepted accounting principles and
				subjected to an examination conducted according to generally accepted auditing
				standards by an independent Certified Public Accountant (CPA). The CPA shall
				incorporate the guidelines established by the division into current procedures
				for preparing audited financial statements. The submitted audited financial
				statements required by this Section shall be based on the licensee's or casino
				operator's business year as approved by the division. The financial statements
				must further reflect the operating records of food, beverage, hotel, and retail
				facilities or enterprises owned by the licensee or casino operator or an
				affiliate and located on the premises or considered part of the
				operations.
B. The reports required
				to be filed pursuant to this Section shall be sworn to and signed by:
1. if from a corporation, the chief executive
				officer and the financial vice president, treasurer or controller;
2. if from a limited liability company, the
				manager or managing member and the financial vice president, treasurer or
				controller;
3. if from a
				partnership, the managing general partner and the financial director;
4. if from a sole proprietorship, the
				proprietor; or
5. if from any other
				form of business association, the chief executive officer or other person
				approved by the division.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 27 - Accounting Regulations › Section III-2713 - Cash Reserve and Bonding Requirements

Current through Register Vol. 50, No. 6, June 20, 2024
A. Each licensee and casino operator shall
				maintain in cash or cash equivalent amounts sufficient to protect patrons
				against defaults in gaming debts owed by the licensee or casino operator. The
				licensee or casino operator shall use the appropriate calculation below:
1. Licensed Eligible Facility
SLOTS:
Non-progressive: Number of Machines x $50 = _____
Progressive: Total of all in house progressive
							 jackpots:______
OTHER:
Operating Accounts Payable:_____ (amount equal to two
							 weeks payables)
Payroll for Two Weeks :_____
Debt Service for One Month:____
TOTAL REQUIREMENTS:______
CASH RESERVE COMPRISED OF
Cash in Cage :_____
Cash in Banks, TCD, Savings, etc.:_____
Entity's Cash on Hand (Do not include slot
machine bucket cash):_____
Less: Safekeeping Money (_____)
TOTAL CASH RESERVE AVAILABLE:_____
2.
				Casino Operator - in accordance with the internal controls.
3. Riverboat
GAMES:
All Table Games
Number of games X table limit average X $50 = _____
SLOTS:
Non-progressive:
Number of Machines X $50 =_____
Progressive:
Total of all in house progressive jackpots = _____
KENO:
Number of Games X $25,000 =_____
(or game limit, whichever is smaller)
OTHER:
Operating Accounts Payable =_____
(amount equal to two weeks payables)
Payroll for Two Weeks =_____
Debt Service for One Month =_____
TOTAL REQUIREMENTS:
CASH RESERVE COMPRISED OF
Cash in Cage:
Cash in Banks, TCD, Savings, etc.= _____
Casino Cash on Hand (Do not include slot machine
							 bucket cash)
Less: Safekeeping Money (_____)
TOTAL CASH RESERVE AVAILABLE
a. For the
				purposes of this Section, table limit average shall be defined as the sum of
				the highest table limit set for each and all tables during the calendar month,
				divided by the total number of tables. All tables shall be included in the
				calculation whether they are opened or closed.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 27 - Accounting Regulations › Section III-2714 - Internal Controls, Procedures

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Each licensee and casino operator shall describe, in such manner as the
				division may approve or require, its procedures in detail in a written system
				of internal controls. Each licensee and casino operator shall submit a copy of
				its internal controls to the division for approval prior to commencement of
				operations. The internal controls shall be implemented to reasonably ensure
				that:
1. all assets are
				safeguarded;
2. financial records
				are accurate and reliable;
3.
				transactions are performed only in accordance with the internal
				controls;
4. transactions are
				recorded adequately to permit proper reporting of gaming revenue, fees and
				taxes, and all revenues deriving from casino and related facilities and to
				maintain accountability for assets;
5. access to assets is permitted only in
				accordance with the internal controls;
6. recorded accountability for assets is
				compared with actual assets at least annually and appropriate action is taken
				with respect to any discrepancies; and
7. functions, duties, and responsibilities
				are appropriately segregated and performed in accordance with sound practices
				by competent, qualified personnel.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 27 - Accounting Regulations › Section III-2716 - Clothing Requirements

Current through Register Vol. 50, No. 6, June 20, 2024
A. All
				authorized persons accessing any count room when unaudited funds are present
				shall wear clothing without any pockets or other compartments with the
				exception of division agents, security personnel, internal auditors, and
				external auditors.
B. Cage
				employees shall not bring purses, handbags, briefcases, bags or any other
				similar item into the cage unless it is transparent.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  27:15 and
				  24.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 27 - Accounting Regulations › Section III-2717 - Internal Controls; Table Games

Current through Register Vol. 50, No. 6, June 20, 2024
A. Table Games Fill and Credit Slip
				Requirements (computerized and manual)
1.
				Each licensee and casino operator shall utilize fill and credit slips to
				document the transfer of chips and tokens to and from table games. Fill and
				credit slips shall, at a minimum, be in triplicate form, in a continuous
				numerical series, pre-numbered or numbered by the computer in a form utilizing
				the alphabet and only in one series at a time. The alphabet need not be used if
				the numerical series is not repeated during the business year. All table game
				fill and credit slips shall be safeguarded in their distribution, use, and
				control as follows.
a. Each slip shall be
				clearly and correctly marked "Fill" or "Credit," whichever applies, and shall
				contain the following:
i. date and time of
				transaction;
ii. shift;
iii. table number;
iv. game type;
v. amount of fill or credit by denomination
				and in total;
vi. sequential slip
				number (manual slips may be issued in sequential order by location);
				and
vii. identification code of the
				requestor, in stored data.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 27 - Accounting Regulations › Section III-2719 - Internal Controls; Handling of Cash

Current through Register Vol. 50, No. 6, June 20, 2024
A. Currency of the United States received
				from a patron in the gaming area shall be promptly placed:
1. in the lock box at the table;
2. in the appropriate place in the cashiers'
				cage; or
3. in an appropriate place
				on the table, in the cash register, or in another repository approved by the
				division on those games which do not have a lock box, including poker
				tables.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 27 - Accounting Regulations › Section III-2721 - Internal Controls; Tips or Gratuities

Current through Register Vol. 50, No. 6, June 20, 2024
A. All gaming employees shall convert cash
				tips or gratuities from a patron to value chips except for slot gaming
				employees, change persons, cashiers, and bar tenders who may accept cash as a
				tip or gratuity from a patron. Security personnel may accept cash tips or
				gratuities outside the designated gaming areas of the casino.
B. No key gaming employee or any other gaming
				employee who serves in a supervisory position as outlined in the internal
				controls, shall accept a tip or gratuity on behalf of themselves. However an
				employee serving in a supervisory position may handle, transport and
				temporarily possess a tip on behalf of an eligible employee in accordance with
				the licensees internal controls.
C.
				No employee shall solicit a tip or gratuity.
D. All tips and gratuities given to dealers
				at table games, including poker dealers, shall be handled as described in the
				licensees internal controls. Those controls should use one of the following
				methods.
1. Pooling of tips:
a. immediately deposited in a transparent
				locked box reserved for that purpose. If non-value chips are received at a
				roulette table, the marker button indicating their specific value shall not be
				removed from the slot or receptacle attached to the outer rim of the roulette
				wheel until after a dealer in the presence of a supervisor has converted the
				non-value chips into value chips. Procedures for accepting non-value chips
				received as tips shall be defined in the internal controls;
b. counted and recorded by a randomly
				selected dealer and a randomly selected employee who is independent of the tips
				being counted; and
c. placed in a
				pool for pro rata distribution among the dealers on a basis that coincides with
				the normal pay period. Tips or gratuities from this pool shall be deposited
				into the licensee's or casino operators payroll account. Distributions to
				dealers from this pool shall be made in accordance with the payroll accounting
				practices and shall be subject to all applicable state and federal withholding
				taxes.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 27 - Accounting Regulations › Section III-2723 - Internal Controls; Slots

Current through Register Vol. 50, No. 6, June 20, 2024
A. Any
				reference to slot machines or slots in this Section includes all electronic
				gaming devices. Provisions in this Section which are only applicable when coins
				and tokens are used shall not apply to coinless and tokenless
				devices.
B. Whenever a patron wins
				a jackpot that is not totally and automatically paid directly from the
				electronic gaming device, a slot attendant shall prepare and process a request
				for jackpot payout form in accordance with the internal controls. A request for
				jackpot payout form is not required if all of the following conditions are met:
1. a slot representative initiates an
				automated jackpot slip at the game;
2. a jackpot slip is generated through the
				computer system; and
3. the cashier
				uses this information to pay the jackpot.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 27 - Accounting Regulations › Section III-2725 - Internal Controls; Poker

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				Supervision shall be provided during all poker games by personnel with
				authority greater than those employees conducting the games.
B. Poker area transfers between table banks
				and the poker bank or casino cage shall be authorized by a supervisor and
				evidenced by the use of a lammer button or other means approved by the
				division. Such transfers shall be verified by the poker area dealer and the
				runner. A lammer is not required if the exchange of chips, tokens, or currency
				takes place at the table.
C. The
				amount of the main poker area bank shall be counted, recorded and reconciled on
				a shift basis by two gaming supervisors or two cashiers, who shall attest to
				the amount counted by signing the check-out form.
D. At least once per gaming day, the table
				banks shall be counted by a dealer and a gaming supervisor, or two gaming
				supervisors, and shall be attested to by signatures of those two employees on
				the proper form. The count shall be recorded and reconciled at least once per
				day.
E. The procedure for the
				collection of poker drop boxes and the count of the contents thereof shall
				comply with the internal control standards applicable to the table game drop
				boxes in §2717
F. Playing cards,
				both used and unused, shall be maintained in a secure location to prevent
				unauthorized access and reduce the possibility of tampering.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  27:15 and
				  24.
Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part III - Gaming Control Board › Chapter 27 - Accounting Regulations › Section III-2727 - Race Book, Riverboat Licensee Only

Current through Register Vol. 50, No. 6, June 20, 2024
A. This Section shall only apply to a
				licensee as defined in
				R.S.
				27:44 pursuant to
				R.S.
				27:86.
B. Access to the computer system shall be
				adequately restricted. Adequate restrictions in this context include changing
				passwords and physically restricting access to computer hardware.
C. Procedures shall be developed prior to
				commencement of gaming for use in case of hardware failure, power failure,
				fire, or other similar events.
D.
				All race book wagers shall be transacted through the computer system. In case
				of computer failure, tickets may be written up to 24 hours after the failure.
				In those instances where system failure has occurred and tickets are
				handwritten, a log shall be maintained which includes:
1. date and time of system failure;
2. reason for failure; and
3. date and time system restored.