Louisiana Revised Statutes 27:393.1 – A. Each licensed eligible facility or licensee shall establish and maintain a facility maintenance and improvement fund as provided in R.S. 4:164 and shall make deposits as required
Terms Used In Louisiana Revised Statutes 27:393.1
- Board: means Louisiana Gaming Control Board. See Louisiana Revised Statutes 27:353
- Eligible facility: means no more than one facility in St. See Louisiana Revised Statutes 27:353
- License: means the authorization applied for by or issued to the owner of an eligible facility by the board to conduct slot machine gaming at an eligible facility issued pursuant to the provisions of this Chapter. See Louisiana Revised Statutes 27:353
- Licensee: means any person issued a license by the board. See Louisiana Revised Statutes 27:353
- Slot machine: means any mechanical, electrical, or other device, contrivance, or machine which, upon insertion of a coin, token, or similar object therein or upon payment of any consideration whatsoever, is available to play or operate, the play or operation of which, whether by reason of the skill of the operator or application of the element of chance, or both, may deliver or entitle the person playing or operating the machine to receive cash, premiums, merchandise, tokens, or anything of value, whether the payoff is made automatically from the machine or in any other manner. See Louisiana Revised Statutes 27:353
A. Each licensed eligible facility or licensee shall establish and maintain a facility maintenance and improvement fund as provided in La. Rev. Stat. 4:164 and shall make deposits as required therein.
B. The establishment, required deposits, and maintenance of a facility maintenance and improvement fund as well as compliance with the minimum standards and required infrastructure investments as determined by the Louisiana State Racing Commission shall be a condition of licensing and shall be required by the owner of the licensed eligible facility or the licensee to maintain continued authority to conduct slot machine gaming at the licensed eligible facility. The provisions of this Subsection shall be applicable to any new license or the renewal of any existing license issued by the board on and after July 1, 2022.
C. Except as provided in La. Rev. Stat. 27:361(E)(3), the board shall not issue a new or renewed license to any eligible facility unless it receives certification from the Louisiana State Racing Commission that the applicant eligible facility is in compliance with the requirements of La. Rev. Stat. 4:164.
Acts 2022, No. 525, §2, eff. June 16, 2022; Acts 2022, No. 530, §2, eff. June 16, 2022.