Louisiana Revised Statutes 27:86 – Issuance of permit to conduct racehorse wagering
Terms Used In Louisiana Revised Statutes 27:86
- Applicant: means a person who has submitted an application to the division seeking a license or permit, or the renewal thereof. See Louisiana Revised Statutes 27:44
- Application: means the forms and schedules prescribed by the division upon which an applicant seeks a license or permit or the renewal thereof. See Louisiana Revised Statutes 27:44
- Contract: A legal written agreement that becomes binding when signed.
- gaming license: means a license or authorization to conduct gaming activities on a riverboat issued pursuant to the provisions of this Chapter. See Louisiana Revised Statutes 27:44
- Racehorse wagering: means wagers placed on horse racing conducted under the pari-mutuel form of wagering at licensed racing facilities that is accepted by a licensed racehorse wagering operator under the provisions of this Chapter. See Louisiana Revised Statutes 27:44
- Racehorse wagering operator: means the licensed racing association whose facility is located closest to the licensed berth of the riverboat on which gaming activities are approved. See Louisiana Revised Statutes 27:44
- Riverboat: means one of the following:
(a) A vessel that carries a valid Certificate of Inspection issued by the United States Coast Guard with regard to the carriage of passengers on designated rivers or waterways within or contiguous to the boundaries of the state of Louisiana and for the carriage of a minimum of six hundred passengers and crew. See Louisiana Revised Statutes 27:44
A. The division shall issue a permit to qualified racehorse wagering operators to conduct racehorse wagering on a riverboat in accordance with the provisions of this Chapter.
B. An applicant for a permit to conduct racehorse wagering shall submit with his application a written contract of the terms with the owner of the gaming license authorizing the applicant to conduct racehorse wagering on the riverboat.
C. The division shall promulgate rules and regulations for the conducting of racehorse wagering on riverboats in accordance with the provisions of this Chapter.
D. The racehorse wagering operator shall deliver to the designated representative at the licensed racing association operated by the racehorse wagering operator twenty-five percent of the audited net profits derived from racehorse wagering authorized under this Part for use as purse supplements. These funds shall be used in addition to all other funds available for use as purses under current provisions of law. Such amounts shall be paid quarterly, within thirty days of the end of the quarter.
Acts 1991, No. 753, §1, eff. July 18, 1991. Redesignated from La. Rev. Stat. 4:545 by Acts 1996, 1st Ex. Sess., No. 7, §3, eff. May 1, 1996.