Louisiana Revised Statutes 47:9106 – Within twenty days following the close of each calendar month, the corporation shall transfer to the Lottery Sports Wagering Fund the amount of net revenue which the corporation dete
Terms Used In Louisiana Revised Statutes 47:9106
- Applicant: means a person, business, or legal entity who has submitted an application to the corporation seeking a permit or the renewal of a permit. See Louisiana Revised Statutes 47:9002
- Corporation: means the Louisiana Lottery Corporation. See Louisiana Revised Statutes 47:9002
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lottery: means any game of chance approved by the corporation and operated pursuant to this Chapter and shall not include sports wagering authorized pursuant to this Subtitle. See Louisiana Revised Statutes 47:9002
- Net gaming proceeds: means the amount equal to the total gross revenue of all sports wagers placed by patrons less the total amount of all winnings paid out to patrons. See Louisiana Revised Statutes 47:9002
- Sports wagering: means the acceptance of a wager on a sports event or on a portion of a sports event or on the individual performance or statistics of an athlete or participant in a sports event or a combination of sports events, by any system or method of wagering. See Louisiana Revised Statutes 47:9002
Within twenty days following the close of each calendar month, the corporation shall transfer to the Lottery Sports Wagering Fund the amount of net revenue which the corporation determines is surplus to its needs. Net revenues shall be determined by deducting from the corporation’s net gaming proceeds the payment costs incurred or estimated to be incurred in the operation and administration of sports wagering authorized pursuant to this Chapter. This shall include the expenses of the corporation and the costs resulting from determining applicant suitability, and any contracts entered into for promotional, advertising, or operational services or for the purchase or lease of sports wagering equipment and materials.
Acts 2021, No. 80, §4, eff. July 1, 2021.