N.J. Admin. Code § 13:69C-4.4

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

Section 13:69C-4.4 - Continuing financial stability reporting requirements

(a) Each casino licensee shall file with the Division a statement of compliance with the criteria in N.J.S.A. 5:12-84a(1) through (5), which shall be included in the quarterly reports filed by the casino licensee pursuant to N.J.A.C. 13:69D.

(b) No later than 90 days after the commencement of each fiscal year, each casino licensee and holding company thereof shall file its financial projections for that fiscal year in a format acceptable to the Division. The Division's Office of Financial Investigations will advise each casino licensee or holding company of the contents of the financial package, which, at a minimum, shall include a statement of income, balance sheet, and statement of cash flows.

(c) At the end of each calendar year, each casino licensee shall file with the Division a detailed analysis of compliance with N.J.S.A. 5:12-84a(4).

(d) In addition to the requirements of (a) through (c) above, each casino licensee and holding company thereof shall file such other information as the Division shall deem material to a showing of financial stability for a particular casino licensee and holding company thereof.

(e) Any event of default related to any debt obligation maintained by the licensee, affiliate, or holding company thereof shall be immediately reported to the Division in writing, along with any plans to address or cure such default.

(f) Each casino licensee shall electronically file its monthly internal financial statements with the Division within five days of completion and in no event later than the end of the subsequent month.

(g) Each casino licensee, affiliate, or holding company thereof shall electronically file a copy of any compliance certificates when provided to lenders pursuant to any loans or debt instruments to the Division's Office of Financial Investigations.

N.J. Admin. Code § 13:69C-4.4

Amended by 50 N.J.R. 599(a), effective 1/16/2018