New Jersey § 5:12-84

§ 5:12-84.

Casino License--Applicant Requirements. Any applicant for a casino license must produce information, documentation and assurances

concerning the following qualification criteria: a. Each applicant shall produce such information, documentation and assurances concerning

financial background and resources as may be required to establish by clear and convincing

evidence the financial stability, integrity and responsibility of the applicant, including

but not limited to bank references, business and personal income and disbursement

schedules, tax returns and other reports filed with governmental agencies, and business

and personal accounting and check records and ledgers. In addition, each applicant shall, in writing, authorize the examination of all

bank accounts and records as may be deemed necessary by the commission or the division. The commission or the division may consider any relevant evidence of financial stability;

provided, however, it is presumed that a casino licensee or applicant is financially

stable if it establishes by clear and convincing evidence that it meets each of the

following standards: (1) The ability to assure the financial integrity of casino operations by the maintenance

of a casino bankroll or equivalent provisions adequate to pay winning wagers to casino

patrons when due. A casino licensee or applicant shall be presumed to have met this standard if it

maintains, on a daily basis, a casino bankroll, or a casino bankroll and equivalent

provisions, in an amount which is at least equal to the average daily minimum casino

bankroll or equivalent provisions, calculated on a monthly basis, for the corresponding

month in the previous year. For any casino licensee or applicant which has been in operation for less than a

year, such amount shall be determined by the division based upon levels maintained

by a comparable casino licensee; (2) The ability to meet ongoing operating expenses which are essential to the maintenance

of continuous and stable casino operations. A casino licensee or applicant shall be presumed to have met this standard if it

demonstrates the ability to achieve positive gross operating profit, measured on an

annual basis; (3) The ability to pay, as and when due, all local, state and federal taxes, including

the tax on gross revenues imposed by subsection a. of section 144 of P.L.1977, c.

110 ( C.5:12-144 ), the investment alternative tax obligations imposed by subsection b. of section

144 of P.L.1977, c. 110 ( C.5:12-144 ) and section 3 of P.L.1984, c. 218 ( C.5:12-144.1 ), the payment in lieu of property taxes imposed by P.L.2016, c. 5 ( C.52:27BBBB-18 et al.), and any fees imposed by the act or the regulations promulgated pursuant thereto; (4) The ability to make necessary capital expenditures in a timely manner which are adequate to ensure a superior, first-class facility of exceptional quality pursuant to subsection i.

of section 83 of P.L.1977, c. 110 ( C.5:12-83 ). A casino licensee or applicant shall be presumed to have met this standard if it

demonstrates that its capital expenditures, over the immediately preceding five calendar years, average at least five percent of net revenue , except that any casino licensee or applicant which has been in operation for less

than five years shall be required to otherwise establish compliance with this standard to the division ; and (5) The ability to pay, exchange, refinance or extend debts, including long-term and

short-term principal and interest and capital lease obligations, which will mature

or otherwise come due and payable during the license term, or to otherwise manage

such debts and any default with respect to such debts. The division also may require that a casino licensee or applicant advise as to its

plans to meet this standard with respect to any material debts coming due and payable

within 12 months after the end of the license term. b. (Deleted by amendment, P.L.2011, c. 19 ) c. Each applicant shall produce such information, documentation and assurances as

may be required to establish by clear and convincing evidence the applicant's good

character, honesty and integrity. Such information shall include, without limitation, information pertaining to family,

habits, character, reputation, criminal and arrest record, business activities, financial

affairs, and business, professional and personal associates, covering at least the

10-year period immediately preceding the filing of the application. Each applicant shall notify the commission and division of any civil judgments obtained

against any such applicant pertaining to antitrust or security regulation laws of

the federal government, of this State or of any other state, jurisdiction, province

or country. In addition, each applicant shall produce letters of reference from law enforcement

agencies having jurisdiction in the applicant's place of residence and principal place

of business, which letters of reference shall indicate that such law enforcement agencies

do not have any pertinent information concerning the applicant, or if such law enforcement

agency does have information pertaining to the applicant, shall specify what the information

is. If the applicant has conducted gaming operations in a jurisdiction which permits

such activity, the applicant shall produce letters of reference from the gaming or

casino enforcement or control agency which shall specify the experiences of such agency

with the applicant, his associates, and his gaming operation; provided, however,

that if no such letters are received within 60 days of request therefor, the applicant

may submit a statement under oath that he is or was during the period such activities

were conducted in good standing with such gaming or casino enforcement or control

agency. d. Each applicant shall produce such information, documentation and assurances as

may be required to establish by clear and convincing evidence that the applicant has

sufficient business ability and casino experience as to establish the likelihood of

creation and maintenance of a successful, efficient casino operation. The applicant shall produce the names of all proposed casino key employees as they

become known and a description of their respective or proposed responsibilities. e. Each applicant shall produce such information, documentation and assurances to

establish the suitability of the casino and related facilities subject to subsection

i. of section 83 of P.L.1977, c. 110 ( C.5:12-83 ) and that its proposed location will not adversely affect casino operations. Each applicant shall submit to the division an impact statement which shall include,

without limitation, architectural and site plans which establish that the proposed

facilities comply in all respects with the requirements of this act and the requirements

of the master plan and zoning and planning ordinances of Atlantic City, without any

use variance from the provisions thereof; a market impact study which analyzes the

adequacy of the patron market and the effect of the proposal on such market and on

the existing casino facilities licensed under this act; and an analysis of the effect

of the proposal on the overall economic and competitive conditions of Atlantic City

and the State of New Jersey. f. For the purposes of this section, each applicant shall be responsible for the submission

to the division of the name, address, fingerprints and written consent for a criminal

history record background check to be performed for each person who must individually

qualify in conjunction with the casino license application. The division is hereby authorized to exchange fingerprint data with and receive

criminal history record information from the State Bureau of Identification in the

Division of State Police and the Federal Bureau of Investigation consistent with applicable

State and federal laws, rules and regulations. The applicant shall bear the cost for the criminal history record background check,

including all costs of administering and processing the check. The Division of State Police shall promptly notify the division in the event a current

or prospective licensee, who was the subject of a criminal history record background

check pursuant to this section, is arrested for a crime or offense in this State after

the date the background check was performed.