205 CMR 116.09 - Approval
(1) Any transfer for which notice is required
under
205 CMR 116.08 that
results in a new qualifier being designated in accordance with
205 CMR
116.02 must be approved by the commission in
accordance with
205 CMR 115.00:
Phase 1 and New Qualifier Suitability Determination, Standards, and
Procedures which approval shall be subject to the satisfaction of
205 CMR
129.01: Review of a Proposed Transfer
of Interests. Notwithstanding the provisions of M.G.L. c. 23K, §
21(b)(ii), the commission shall not assess a payment representing the
Commonwealth's share of the increased value for the transferred licenses,
property or interest, but a transferor or transferee shall be responsible for
the payment of all investigatory and other fees provided for in
205 CMR
114.00: Fees.
(2) The commission may reject any transfer
requiring approval pursuant to 205 CMR 116.09(1) that it finds would be
disadvantageous to the interests of the Commonwealth of Massachusetts. A
transfer may be considered disadvantageous to the interests of the Commonwealth
if the commission determines that the proposed transferee does not satisfy the
applicable considerations set forth in M.G.L. c. 23K, §§ 12, 15, 16,
and/or 18, as applicable,
205 CMR 115.00:
Phase 1 and New Qualifier Suitability Determination, Standards, and
Procedures, or any other applicable provisions of M.G.L. c. 23K or 205
CMR, and/or the transferee does not satisfy the provisions of
205 CMR
129.01: Review of a Proposed Transfer
of Interests.
(3) Pursuant
to M.G.L. c. 23K, § 20(e), the commission shall not approve the transfer
of the category 2 gaming license for five years after the initial issuance of
the license unless one of the following has occurred:
(a) the parent, holding company, or
intermediary company of the gaming licensee experiences a change in ownership
resulting in a change of control;
(b) the gaming licensee fails to maintain
suitability; or
(c) the commission
determines that other circumstances exist which affect the gaming licensee's
ability to operate the gaming establishment successfully.
(4) The commission shall not approve of any
transfer that would result in the transferee having a financial interest in
more than one gaming license issued by the commission.
Notes
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