N.M. Admin. Code § 15.1.5.14

Current through Register Vol. 35, No. 21, November 5, 2024

Section 15.1.5.14 - BUSINESS PLAN

A. The applicant for a gaming operator's license shall submit with the application a proposed business plan for the conduct of gaming. The plan shall include the following:

(1) an 8-1/2" x 11" drawing to scale of the building in which the applicant proposes to conduct gaming, with the area designated as the proposed licensed premises clearly outlined;

(2) a description of the type and number of gaming machines proposed for operation, including details of machine features, such as whether the machines are video versus spinning reel or are coin-in/coin-out versus coin-in/credit-out machines;

(3) generic description of the games to be played on the machines and the proposed placement of the machines on the licensed premises;

(4) administrative, accounting, and internal control procedures, including monetary control operations;

(5) security plan;

(6) staffing plan for gaming operations, including identification of key executives and employees;

(7) advertising and marketing plan;

(8) method to be used for prize payouts;

(9) details of any proposed progressive systems;

(10)gaming protection plan; and

(11)any other information requested by the board or its agents.

B. The business plan must provide for the following accounts:

(1) an escrow account or accounts to be established and maintained in accordance with board requirements for the purpose of holding in reserve large or progressive prizes to be won by participants; and

(2) a depository account exclusively for the collection and payment of the gaming tax in accordance with the provisions of the Tax Administration Act, Chapter 7, Article 1 NMSA 1978.

C. The business plan shall provide for payment from gaming machines such that the payouts are not less than eighty percent over the lifetime of the machine.

D. A gaming operator's license shall not be granted unless the board first determines that the business plan submitted is suitable for the type of operation proposed and otherwise complies with the requirements of the act and this rule.

N.M. Admin. Code § 15.1.5.14

11/30/98; 15.1.5.14 NMAC - Rn, 15 NMAC 1.5.14, 3/31/00; A, 2/28/05, Adopted by New Mexico Register, Volume XXVII, Issue 12, June 30, 2016, eff. 6/30/2016