N.J. Admin. Code § 13:45A-36.10

Current through Register Vol. 56, No. 21, November 4, 2024

Section 13:45A-36.10 - Annual audits

(a) Fantasy sports operators shall contract with a licensed certified public accountant to perform a financial audit of the operator and submit the accountant's report to the Division annually , no later than the first day of the seventh month following the close of the fantasy sports operator's fiscal year.

(b) Along with the audit required by (a) above , fantasy sports operators shall provide an addendum prepared by a licensed certified public accountant that break s down for each quarter:

1. Total entry fees for the fantasy sports operator;

2. Total prizes paid out by the fantasy sports operator;

3. Total entry fees paid by participants in New Jersey;

4. Amount in participant accounts for participants in New Jersey; and

5. If the fantasy sports operator maintains reserves in cash, cash equivalents, payment processor reserves and receivables, an irrevocable letter of credit, a bond, or a combination thereof, pursuant to N.J.A.C. 13:45A-36.9(e), a report on such reserves in cash, cash equivalents, payment processor reserves and receivables, an irrevocable letter of credit, a bond, or a combination thereof.

N.J. Admin. Code § 13:45A-36.10

Adopted by 51 N.J.R. 1764(a), effective 12/2/2019