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Can you summarize LAAC Title 42, Part VI, Chapter 3?
Sports Wagering > Licensing
Short Summary
This legal document governs the licensing of sports wagering operations in Louisiana. It states that no person, business, or legal entity can operate a sports book without first obtaining a license from the board. The license is issued in the name of the person responsible for the sports book. It is important to note that the license is deemed to be a revocable privilege and does not grant any vested rights. All licenses must be surrendered to the board upon expiration or revocation, and they will be destroyed unless needed for a pending investigation. Licenses are not transferable or assignable. The document also outlines the application process and notification requirements. Applicants must submit fingerprints and required forms within 30 days after the close of the application period. The board evaluates eligible applicants based on factors such as revenue generation potential, character, reputation, experience, financial integrity, capitalization, and the design of the sports book lounge. The division conducts investigations to determine suitability for licensure. Available licenses are awarded at a public meeting of the board. The document also specifies the notification requirements for available licenses after the initial issuance. Overall, this document provides the regulatory framework for obtaining and maintaining a sports wagering license in Louisiana.
Whom does it apply to?
Persons, businesses, or legal entities operating a sports book in Louisiana
What does it govern?
Licensing of sports wagering operations in Louisiana
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Louisiana