Arkansas Administrative Code

23 CAR § 358-1611. Approvals required for dividends and distributions. Without the prior approval of the Arkansas Racing Commission, neither the private investment company, nor any of its affiliated, intermediary, or subsidiary companies who have been found suitable by the commis…

23 CAR § 358-1612. Administrative approval required for certain transfers of economic securities in private investment companies. Each person who acquires beneficial ownership or record ownership of any direct interest in any economic security in a private investment company whic…

23 CAR § 358-1613. Reporting required for certain transfers and changes affecting economic securities in private investment companies. (a) A private investment fund and any of its affiliates and subsidiaries that acquire beneficial ownership or record ownership of any indirect in…

23 CAR § 358-1614. Commission approval required for transfers by the beneficial owners of voting securities of private investment companies. Each person who acquires beneficial ownership or record ownership of any direct or indirect interest in any voting security in a private in…

23 CAR § 358-1615. Commission approval required to issue voting securities. A private investment company that is registered with the Arkansas Racing Commission shall not issue voting securities, or any other security that is convertible or exchangeable into a voting security, wit…

23 CAR § 358-1616. Penalties for noncompliance with laws and rules. If any corporation, partnership, limited partnership, limited liability company, or other business organization holding a license is owned or controlled by a private investment company subject to the provisions o…

23 CAR § 358-1617. Fraudulent and deceptive practices prohibited. It is grounds for disciplinary action if any person, in connection with the purchase or sale of any security issued by a private investment company or an affiliated company or in connection with any document requir…

23 CAR § 358-1618. Exemptions. The Arkansas Racing Commission may, either generally or specifically, exempt a person, a security, a transaction, or any portion thereof from the application of this part or any portion thereof if the commission determines that such exemption is con…

23 CAR § 358-1701. Definitions. As used in this subpart: (1) “Acquire control” or “acquiring control” means any act or conduct by a person whereby the person obtains control, whether accomplished through the ownership of equity or voting securities, ownership of rights to acquire…

23 CAR § 358-1702. Burden of proof. (a) The burden of proof for the granting of any approval required or permitted by this part is at all times upon the applicant. (b) Each applicant shall satisfy the Arkansas Racing Commission or the commission, as the case may be, that the gran…

23 CAR § 358-1703. Powers of commission. (a) The Arkansas Racing Commission may provide: (1) That a time period be accelerated or extended; or (2) That as a condition to the processing of an application or to the granting of an approval: (A) An application be supplemented in any …

23 CAR § 358-1704. Commission review of stop orders. If a stop order is issued by the Arkansas Racing Commission pursuant to the provisions of this part, the commission shall, upon request of the person that is the subject of the order, conduct a hearing on the merits of the matt…

23 CAR § 358-1705. Timing of investigations and approvals. (a) The Arkansas Racing Commission is hereby delegated the power to accelerate or extend the time period in which the commission may grant approval of any act for which approval by the commission is required or permitted …

23 CAR § 358-1706. Standards for commission action. (a) The Arkansas Racing Commission will consider all relevant material facts in determining whether to grant an approval required or permitted by this part. (b) With respect to any approvals requested pursuant to or in accordanc…

23 CAR § 358-1707. Public offerings. (a) Corporate licensees. A corporate licensee shall not guarantee a security issued by an affiliated company pursuant to a public offering, nor hypothecate its assets to secure the payment or performance of the obligations evidenced by a secur…

23 CAR § 358-1708. Mergers, acquisitions, and changes of control. (a) Approval of acquisition of control. A publicly traded corporation shall not directly or indirectly acquire control of a corporate licensee or affiliated company, and a person shall not acquire control of a publ…

23 CAR § 358-1709. Markets and trading. (a) Fraudulent and deceptive practices prohibited. It is grounds for disciplinary action if any person, in connection with the purchase or sale of any security issued by a corporate licensee or an affiliated company or in connection with an…

23 CAR § 358-1710. Individuals. (a) Powers of commission. (1) The Arkansas Racing Commission may determine, upon the recommendation of the Arkansas Racing Commission, at the time of initial application by a publicly traded corporation for registration as a holding company, or at …

23 CAR § 358-1801. Policy. The Arkansas Racing Commission finds and hereby declares that the continuation of a casino gaming establishment’s gaming operation following surrender, lapse, suspension, or revocation of a license essential to such operation presents significantly enha…

23 CAR § 358-1802. Determination to seek supervisor. (a) Only the Arkansas Racing Commission is empowered to petition ex parte for court appointment of a supervisor if the license of any person whose license is essential to the operation of a gaming establishment: (1) Is revoked …

23 CAR § 358-1803. Qualifications of supervisor. (a) Should the Arkansas Racing Commission petition for appointment of a supervisor, the commission shall include the names of two (2) or more persons who the commission believes are suitable and qualified to manage the gaming estab…

23 CAR § 358-1804. Termination. (a) Once a license essential to a continuation of the gaming operations has been revoked, suspended, surrendered, or has lapsed, there is no right or interest in any person to further conduct gaming at the establishment, and the Arkansas Racing Com…

23 CAR § 358-1805. Distribution of earnings to former legal owners. (a) A supervisor shall not distribute earnings of the gaming establishment to the former licensed owners thereof, until deduction is made for: (1) The costs of the supervisorship, including compensation and expen…

23 CAR § 358-2001. Definitions. As used in this subpart: (1)(A) “Account wagering system” means a system of wagering using computer or other method of wagering communication as approved by the Arkansas Racing Commission, including mobile applications and other digital platforms t…

23 CAR § 358-2002. License required — Applications. (a) No person may operate or own any interest in a race book or sports pool in Arkansas unless that person holds a casino license. (b) Authorization to operate a race book or a license to operate a sports pool occurs immediately…

23 CAR § 358-2003. Finding of suitability required to operate a call center — Applications. (a) A person shall not function as the operator of a call center unless the person has been found suitable to operate a call center under this part. (b) Applications for a finding of suita…

23 CAR § 358-2004. Reserve requirements. Notwithstanding the minimum reserve requirements established for wagering accounts pursuant to this part, each book shall comply with the following to calculate the minimum reserve requirements: (1) Each book shall at all times maintain a …

23 CAR § 358-2005. Issuance and control of betting tickets. (a) Immediately upon accepting a wager, other than an account wager, the book shall create a betting ticket on which the terms of the wager are written. (b) Betting tickets must bear the name and address of the book.…

23 CAR § 358-2006. Remote/off-premises wagers on sporting events. (a) Licensees/books may accept wagers on sporting events from any person who is not physically present on the licensee’s/franchise holder’s premises so long as the person is physically present in the State of Arkan…

23 CAR § 358-2007. Acceptance of wagers. (a)(1) Books may not accept wagers unless made with cash, chips, or other representatives of value approved by the Arkansas Racing Commission, or against credits made to a wagering account as provided for in 23 CAR § 358-2025 or on credit …

23 CAR § 358-2008. Wagers and payouts in excess of ten thousand dollars ($10,000). (a) Prior to accepting any nonpari-mutuel wager in excess of ten thousand dollars ($10,000) or making a payout in excess of ten thousand dollars ($10,000) on a nonpari-mutuel winning wager the book…

23 CAR § 358-2009. Multiple wagers. (a)(1) A book and its employees and agents shall not knowingly allow, and each book shall take reasonable steps to prevent, the circumvention of this part by multiple wagers within its designated twenty-four-hour period with a patron or a patro…

23 CAR § 358-201. Scope and purpose. (a) This part governs the application procedures for the issuance and renewal of licenses to conduct casino gaming at a casino in Arkansas. (b) This part also governs the selection methods to be used and the criteria to be considered by the Ar…

23 CAR § 358-2010. Structured wagers. (a)(1) A book, its officers, employees, or agents shall not encourage or instruct the patron to structure or attempt to structure wagers. (2) This subsection does not prohibit a book from informing a patron of the regulatory requirements impo…

23 CAR § 358-2011. Imposition of supplemental recordkeeping and reporting requirements. (a) The Arkansas Racing Commission may require a book to comply with the identification, recordkeeping, and reporting requirements of 23 CAR § 358-2008 and § 358-2009 for pari-mutuel wagers. (…

23 CAR § 358-2012. Payment of winning wagers. (a)(1) Except as otherwise provided in this subsection, books shall make payment on a winning wager to the person who presents the patron’s copy of the betting ticket representing the wager or, in the case of a wager made through an a…

23 CAR § 358-2013. Parlay card wagers. (a) As used in this section, “parlay card wager” means a wager on the outcome of a series of three (3) or more games, matches, or similar sports events or on a series of three (3) or more contingencies incident to particular games, matches, …

23 CAR § 358-2014. Computerized bookmaking systems. Before beginning operations, each book shall install and thereafter maintain a computerized bookmaking system meeting the specifications approved by the Arkansas Racing Commission.

23 CAR § 358-2015. Layoff bets. (a) Books may accept wagers placed by other books. (b) Books may place wagers only with other books. (c) A book that places a wager shall inform the book accepting the wager that the wager is being placed by a book and shall disclose its identity.…

23 CAR § 358-2016. Prohibition against rescission of wagers. (a) A book may not unilaterally rescind any wager without the prior written approval of the Arkansas Racing Commission unless the wager was placed due to clear error by the book, as defined in the book’s internal contro…

23 CAR § 358-2017. Prohibited wagers — Exception for an event other than a horse race, greyhound race, or an athletic sports event. (a) No wagers may be accepted or paid by any licensee/book on: (1) Any amateur sport or athletic event other than: (A) Olympic sporting or athletic …

23 CAR § 358-2018. Reports of suspicious transactions. (a) As used in this section, “suspicious transaction” means a transaction which a book knows or, in the judgment of it or its directors, officers, employees, or agents, has reason to suspect: (1) Is, or would be if completed,…

23 CAR § 358-2019. Wagers — Terms and conditions. (a) No book shall: (1) Accept from a patron, directly or indirectly, less than the full face value of an off-track pari-mutuel wager; (2) Agree to refund or rebate to a patron any portion or percentage of the full face value of an…

23 CAR § 358-202. Definitions. As used in this subpart: (1) “Amendment” means The Arkansas Casino Gaming Amendment of 2018, Arkansas Constitution, Amendment 100; (2) “Casino” means a facility where casino gaming is conducted as authorized by Amendment 100; (3)(A) “Casino applican…

23 CAR § 358-2020. Communications technology. (a)(1) Before installing or permitting the installation or use of any communications technology, the book shall notify the Arkansas Racing Commission in writing of the location and number or other identifier of each communications tec…

23 CAR § 358-2021. Wagering communications — Establishing patron wagering accounts for sports, nonpari-mutuel race, and other event wagering. (a)(1) A book may only accept a sports wager or nonpari-mutuel race wager made in person, unless the transmission of a wager is initiated …

23 CAR § 358-2022. Account wagering systems. Account wagering systems shall: (1)(A) For systems that use other than voice-only wagering communications technology, provide for the patron’s review and confirmation of all wagering information before the wagering communication is acc…