Louisiana Administrative Code › Title 42 - LOUISIANA GAMING › Part VII - Louisiana Fantasy Sports Contests › Chapter 1 - General Provisions › Section VII-103 - Definitions

Current through Register Vol. 50, No. 6, June 20, 2024
A. The provisions
				of the Act relating to definitions, words and terms are hereby incorporated by
				reference and made a part hereof and will therefore apply and govern the
				interpretation of these regulations, unless the context otherwise requires or
				unless specifically redefined in a particular Section. Any word or term not
				defined in these regulations shall have the same meaning ascribed to it in the
				Act. Any word not defined by the Act or these regulations shall be construed in
				accordance with its plain and ordinary meaning.
B. As used in this Chapter, the following
				words and terms shall have the following meanings.
Act
-the provisions of the Louisiana Gaming
				  Control Law,
				  R.S.
				  27:1 et seq. and all provisions of the
				  Louisiana Fantasy Sports Contests Act,
				  R.S.
				  27:301 et seq.
Applicant
-has the same meaning as the term
				  has in Section 1701 of Part III of this Title.
Application
-has the same meaning as the term
				  has in Section 1701 of Part III of this Title.
Associated Persons
-any person required by
				  the Act or these regulations including, but not limited to,
				  R.S.
				  27:28 and Section 2107 of Part III of this
				  Title to submit to and meet suitability and any persons the board or division
				  determines needs to submit to and meet suitability on the license including,
				  but not limited to: directors; officers; and managers.
Beginner Player
-a player who has entered 50
				  or fewer fantasy sports contests offered by a licensee and who does not meet
				  the definition of a highly experienced player.
Board
-has the same meaning as that term in
				  R.S.
				  27:302.
Business Year
-has the same meaning as the
				  term has in Section 1701 of Part III of this Title.
Chairman
means the chairman of the
				  board.
Confidential Information
-has the same
				  meaning as that term in
				  R.S.
				  27:302.
Division
-has the same meaning as the term
				  has in Section 1701 of Part III of this Title.
Economic Interest-
any interest in a licensee
				  from which a person receives or is entitled to receive, by agreement or
				  otherwise, a profit, gain, thing of value, loss, credit, security interest,
				  ownership interest or other benefit. Economic interest includes voting shares
				  of stock or otherwise exercising control of the date to day operations.
				  Economic interest does not include a debt unless upon review of the instrument,
				  contract, or other evidence of indebtedness, the board or division determines a
				  finding of suitability is required based upon the economic relationship with
				  the licensee.
Entry Fee
-has the same meaning as that term
				  in R.S.
				  27:302.
Fantasy Sports Contest
-has the same meaning
				  as that term in
				  R.S.
				  27:302.
Fantasy Sports Contest Operator
or
Operator
-has the same meaning as that term in
				  R.S.
				  27:302 and may be referred to as
licensee
.
Fantasy Sports Contest Operator Employee
or
Operator Employee
or
Licensee Employee
-an
				  individual employed by an operator and includes all officers, directors,
				  trustees, and principal salaried executive staff officers. It shall also
				  include contractors of operators that have access to confidential information
				  as defined in the Act, these regulations, or
				  R.S.
				  27:21 or 27:44.
Fantasy Sports Contest Player
or
Player
-has the same meaning as that term in
				  R.S.
				  27:302.
Fantasy Sports Contest Player Funds
-the cash
				  or cash equivalents that are owned by the player, are maintained in the players
				  account, and are not commingled with the licensees operational funds.
Financial Statements
or
Financial
				  Records
-has the same meaning as the term has in Section 1701 of Part
				  III of this Title.
Gaming Employee
-has the same meaning as the
				  term has in Section 1701 of Part III of this Title.
Gaming Employee Permit
or
Employee
				  Permit
-has the same meaning as the term has in Section 1701 of Part
				  III of this Title.
Gaming Equipment
-has the same meaning as the
				  term has in Section 1701 of Part III of this Title, plus any equipment or
				  devices that the board or division finds or determines to be used or expended
				  in fantasy sports contest operations or activities.
Gaming Supplier or Distributor
-has the same
				  meaning as the term has in Section 1701 of Part III of this Title.
Gaming Supplier Permit
-has the same meaning
				  as the term has in Section 1701 of Part III of this Title.
Gaming Supplies
-the same meaning as the term
				  has in Section 1701 of Part III of this Title, plus services provided to the
				  licensee that the board or division finds or determines to be used or expended
				  in fantasy sports contest operations or activities.
Geolocatio
n-the process or technique of
				  identifying the geographical location of a person or device by means of digital
				  information processed by digital means.
Gross Fantasy Sports Contest Revenues
-has
				  the same meaning as that term in
				  R.S.
				  27:302.
Highly Experienced Player
-a person who has
				  either:
a. entered more than 1,000
				contests offered by a single licensee; or
b. won more than 3 sports prizes of $1,000 or
				more from a single licensee.
Inactive Account
-a fantasy sports contest
				  player account that has not been logged into or has had no activity for a
				  period of three years.
Internal Controls
-internal procedures and
				  administration and accounting controls designed by the licensee that are
				  commercially reasonable procedures for the operation of fantasy sports contests
				  with an entry fee.
Key Gaming Employee
-has the same meaning as
				  that term in in Section 1701 of Part III of this Title.
Location Percentage
-has the same meaning as
				  that term in
				  R.S.
				  27:302.
Net Revenue
-has the same meaning as that
				  term in R.S. 27:302.
Non-Gaming Supplier or Supplier of Goods or Services
				  Other than Gaming Devices or Gaming Equipment
-has the same meaning as
				  the term has in Section 1701 of Part III of this Title.
Non-Gaming Supplier Permit
-has the same
				  meaning as the term has in Section 1701 of Part III of this Title.
Non-Key Gaming Employee
-has the same meaning
				  as the term has in Section 1701 of Part III of this Title.
Non-Key Gaming Employee Permit
-has the same
				  meaning as the term has in Section 1701 of Part III of this Title.
Operators Net Revenue
-has the same meaning
				  as that term in
				  R.S.
				  27:302.
Person
-has the same meaning as the term has
				  in Section 1701 of Part III of this Title.
Platform
-any website, smart phone or tablet
				  or other electronic application, or other portal providing access to a fantasy
				  sports contest conducted pursuant to Chapter 6 of the Louisiana Gaming Control
				  Law.
Prize
-anything of value including, but not
				  limited to, cash or a cash equivalent, contest credits, merchandise, or
				  admission to another contest in which a prize may be awarded. Any non-cash
				  prizes shall be calculated at the cost to the licensee.
Prohibited Parish
-a parish in which, at the
				  election held pursuant to
				  R.S.
				  27:303, a majority of the qualified electors
				  in the parish voting on the proposition to authorize fantasy sports contests in
				  the parish voted against the proposition.
Script
-a list of commands that a computer
				  related to a fantasy sports contest program can execute to automate processes
				  on a fantasy sports contest platform.
Segregated Account
-a financial account that
				  segregates the funds of players such that the licensees operational funds may
				  not be commingled.
Sporting Event
-an athletic game or team
				  competition in which an individual athletes performance is used to accumulate
				  statistical results.