Sec. 25-55. Management services provider license.

186 words·~1 min read·/il/chapter-230/act-45/25-55

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)A master sports wagering licensee may contract with an entity to conduct that operation in accordance with the rules of the Board and the provisions of this Act. That entity shall obtain a license as a management services provider before the execution of any such contract, and the management services provider license shall be issued pursuant to the provisions of this Act and any rules adopted by the Board.

(b)Each applicant for a management services provider license shall meet all requirements for licensure and pay a nonrefundable license and application fee of $1,000,000. The Board may adopt rules establishing additional requirements for an authorized management services provider. The Board may accept licensing by another jurisdiction that it specifically determines to have similar licensing requirements as evidence the applicant meets authorized management services provider licensing requirements.

(c)Management services provider licenses shall be renewed every 4 years to licensees who continue to be in compliance with all requirements and who pay the renewal fee of $500,000.

(d)A person who shares in revenue shall be licensed under this Section.