Ill. Admin. Code tit. 11 § 1900.770

Current through Register Vol. 48, No. 49, December 6, 2024

Section 1900.770 - Annual Updates

a) A holder of a master sports wagering, management services provider, supplier, or tier 2 official league data provider license shall be required to submit an annual update to the Board during any year in which the license is not due to expire or be renewed.

b) Annual updates shall be electronically submitted, on forms and in a manner designated by the Administrator, no less than 90 days prior to the first day of the month in which the license was issued.

c) Annual updates shall include, at a minimum, the following information:

1) An updated organizational chart of the licensee showing parent and subsidiary entities in relation to the licensee, including a separate listing of all key persons of the licensee;

2) Key person and level 1 occupational licensee disclosure updates;

3) The most recent year-end financial statements, including the most recent Form 10K and 10Q filings with the SEC by the licensee and its parent company, if they are publicly held corporations;

4) A list of revenues derived from Illinois sports wagering operations during the previous licensing period, categorized according to date and licensee;

5) Any and all fees received from management agreements or consulting services with a holder of a master sports wagering license, and the basis for the calculation of fees received;

6) Any specific plans for changes in the financing, ownership or organization of the licensed entity;

7) Disclosure of any past or pending disciplinary action taken against the licensee or its affiliated entities in any other jurisdictions;

8) Disclosure of any past or pending material litigation involving the licensee, its parent corporation and subsidiaries, and any key person;

9) If applicable, any and all equipment, devices and supplies offered for sale or lease in connection with sports wagering authorized under the Act and this Part; and

10) An affidavit certifying the licensee is in compliance with required payment of all applicable federal and State taxes.

Ill. Admin. Code tit. 11, § 1900.770

Added at 44 Ill. Reg. 10581, effective 6/4/2020.