230.814 Requirements for obtaining service provider license -- Application fee --
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/ky/230-814A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Factors to be considered by racing and gaming corporation -- Temporary
license -- Revocation of license.
(1)The corporation may issue a service provider license to a qualified applicant.
(2)A person applying for a service provider license under this chapter shall pay a
nonrefundable application fee of fifty thousand dollars ($50,000) to the corporation.
(3)In determining whether to grant a service provider's license to an applicant, the
corporation shall consider:
(a)The applicant and its past, current, or future operations; and
(b)A person that is deemed to have control over the applicant. For the purposes
of this section, the following persons are deemed to have control over an
applicant:
1. Each corporate holding company, parent company, or subsidiary
company of a corporate applicant or licensee and each person that owns
five percent (5%) or more of the corporate applicant or licensee and that
has the ability to control the activities of the corporate applicant or
licensee or elect a majority of the board of directors of that corporate
applicant or licensee;
2. Each person associated with a noncorporate applicant or licensee that
directly or indirectly holds a beneficial or proprietary interest in the
noncorporate applicant's or licensee's business operation or that the
director otherwise determines has the ability to control the noncorporate
applicant or licensee; and
3. Any officer or director of an applicant or licensee having the power to
exercise significant influence over decisions concerning any part of the
applicant's or licensee's relevant sports wagering business operation in
this state.
(4)A service provider licensee shall pay an annual renewal fee of ten thousand dollars
($10,000).
(5)A person applying for a service provider license to conduct sports wagering through
an agreement with a licensed track may receive a temporary license to immediately
commence sports wagering operations if the applicant:
(a)Satisfies the corporation's requirements for a temporary license, which may
consider operations in other jurisdictions in the United States; and
(b)Pays the initial licensing fee of fifty thousand dollars ($50,000) under
subsection
(2)of this section to the corporation.
(6)A temporary license granted to an applicant for a service provider to offer sports
wagering under subsection
(5)of this section may be valid for up to one
(1)year,
during which a permanent license shall be granted or denied. An applicant shall not
be eligible for an extended or renewed temporary license. The corporation reserves
the right to revoke any license issued pursuant to this chapter if it determines that
the licensee has violated any provisions of this chapter or is otherwise deemed unfit
for a license.
(7)Fees paid under this section shall be deposited into the sports wagering
administration fund established by KRS 230.817.