On or before July 1 of each year, a licensed event wagering operator and management services provider shall contract with a certified public accountant to perform an independent audit, in accordance with generally accepted accounting principles published by the American institute of certified public accountants, the financial condition of the licensed event wagering operator’s or management services provider’s total operation for the previous fiscal year and to ensure compliance with this chapter and for any other purpose as prescribed by rule. Not later than one hundred eighty days after the end of the event wagering operator’s or management services provider’s fiscal year, a licensed event wagering operator or management service provider shall submit the audit results under this section to the department. The results of an audit submitted to the department under this section are confidential and privileged and are not subject to disclosure as provided in Title 39, Chapter 1, article 2.

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Terms Used In Arizona Laws 5-1319

  • Contract: A legal written agreement that becomes binding when signed.
  • Department: means the department of gaming. See Arizona Laws 5-1301
  • Event wagering operator: means either:

    (a) An owner or operator of an Arizona professional sports team or franchise, an operator of a sports facility in this state that hosts an annual tournament on the PGA tour or a promoter of a national association for stock car auto racing national touring race in this state, or the designee of such an owner, operator or promoter, who is licensed to offer event wagering under this chapter. See Arizona Laws 5-1301

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Management services provider: means a person that operates, manages or controls event wagering authorized by this chapter on behalf of an event wagering operator or limited event wagering operator, including developing or operating event wagering platforms and providing odds, lines and global risk management, and may provide services to more than one licensed event wagering operator or licensed limited event wagering operator. See Arizona Laws 5-1301
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