Section 5:5-194 - Issuance of license to establish fixed odds wageringa. The division is hereby authorized to issue a license to the authority, or to the racetrack permit holder, to establish fixed odds wagering in accordance with the provisions of this act, P.L. 2021, c. 192(C.5:5-190 et al.). The licensing process shall include the filing by the authority of a fixed odds wagering license application developed by the division. The division may issue more than one license to the authority for the purpose of establishing additional fixed odds wagering systems. The division may issue an individual license to a racetrack permit holder if the authority and racetrack permit holder have mutually agreed to a transfer of licensing, pursuant to the provisions of section 6 of P.L. 2021, c. 193(C.5:5-195). Each new wagering system shall require a license. All provisions of law concerning such license and the fixed odds wagering system shall apply to each license and each system established. Any reference in law to the license, the assignee, or the fixed odds wagering system shall refer to all licenses, assignees, and systems. A license issued pursuant to this act shall be valid for a term of one year. Any participation agreement shall include an agreement by the operator to pay a proportional share of the available net project revenues determined by the operating board to the standardbred or thoroughbred permit holder, as the case may be, and a re-negotiation mechanism to adjust a proportional share following the addition or removal of an operator.
b. At the time of filing an application for licensure under this section, the authority shall submit to the division a nonrefundable filing fee in an amount established by regulation by the division, and a certification in a form prescribed by the division which specifies, but is not limited to, information about the operation of the system and the authority's participation therein.c. Within 14 days of receipt of a completed application, certification and applicable fees, the division's director shall determine whether the same is in due form and meets the requirements of law and regulations in all respects. No later than 60 days following the receipt of the application, the division shall make a final determination on the application. The division shall approve the application if it determines that the authority has demonstrated by clear and convincing evidence that wagers placed through the proposed fixed odds wagering system will be accurately processed and that there will be sufficient safeguards to maintain the integrity of the horse racing industry in this State.d. The division's determination shall be submitted to the Attorney General for review and approval. The determination of the division shall be deemed approved by the Attorney General if affirmatively approved or not disapproved by the Attorney General within 14 days of the date of submission. The decision of the Attorney General shall be deemed a final decision. Upon approval by the Attorney General, the division shall issue to the authority a license to establish the system. The fixed odds wagering license shall be valid for a term of one year, and shall be subject to renewal annually, unless a different timeframe is otherwise prescribed by regulation of the division.e. With the approval of the division, the authority or racetrack permit holder may enter into a contract or agreement with a person or entity to conduct or operate the system and to act as the agent of the authority in all fixed odds wagering matters approved by the division. The fixed odds wagering license may not be transferred or assigned to a successor in interest without the approval of the division and the Attorney General, which approval may not be unreasonably withheld.Added by L. 2021, c. 193, s. 5, eff. 8/5/2021.