                                 CODE OF VIRGINIA

DURATION AND FORM OF OPERATOR&#8217;S LICENSE; BOND (§ 58.1-4111)

A. A casino gaming operator license under this chapter shall be valid for a
period of 10 years from its date of issuance but shall be reviewed no less
frequently than annually to determine compliance with this chapter and
Department regulations. Such annual review shall include a certification by the
eligible host city of the status of the operator&#8217;s compliance with local
ordinances and regulations. If the certification states that the operator is not
in compliance, the Department shall require the operator to submit a plan of
compliance, corrective action, or request for variance.

B. The Board shall establish by regulation the criteria and procedures for
license renewal and for amending licenses to conform to changes in a
licensee&#8217;s gaming operations. Such regulations shall require the operator
to submit to the Board any updates or revisions to the capital investment plan
provided with the initial license application pursuant to subdivision B 4 of
&#xA7; 58.1-4109. Renewal shall not be unreasonably refused.

C. The Department shall require a bond with surety acceptable to it, and in an
amount determined by it, to be sufficient to cover any indebtedness incurred by
the licensee to the Commonwealth.

HISTORY: 2020, cc. 1197, 1248.