§ 27:306 — Licensing of fantasy sports contest operators

Louisiana § 27:306

• Jurisdiction: Louisiana
• Title 27: Louisiana Legislature

Text

§306. Licensing of fantasy sports contest operators
A. No fantasy sports contest operator shall offer any fantasy sports contest in this
state without first being licensed by the board. Applications for licensure shall be on forms
provided by the board.
B. Before obtaining a license to offer fantasy sports contests in this state, a fantasy
sports contest operator shall:
(1) Be a person domiciled in Louisiana or a domestic business entity with a
certificate of existence from the secretary of state and in good standing or a foreign
corporation with a certificate of authority to transact business in this state from the secretary
of state and in good standing.
(2) Demonstrate to the board that the operator is suitable for licensing pursuant to
R.S. 27:28.
(3) Provide the board with financial statements indicating any gross fantasy sports
contest revenue for the previous three years.
C. The initial application fee shall be one thousand dollars and shall be non-refundable.
D. The license fee for a fantasy sports contest license shall be submitted to the
division prior to the issuance of the license. Each license shall be granted for a term of three
years. The license fee shall be as follows:
(1) If the three-year average of the licensee's gross fantasy sports contest revenue is
less than one hundred thousand dollars or the licensee has no previous revenue, the fee shall
be five thousand dollars.
(2) If the three-year average of the licensee's gross fantasy sports contest revenue is
one hundred thousand dollars or more, but less than three hundred thousand dollars, the fee
shall be fifteen thousand dollars.
(3) If the three-year average of the licensee's gross fantasy sports contest revenue is
more than three hundred thousand dollars, the fee shall be forty thousand dollars.
(4) The renewal fee for a fantasy sports contest license shall be submitted to the
division on the anniversary date of the issuance of the license and shall be assessed in the
same manner as the original license fee was assessed.
E. All fees, fines, and other monies collected by the division, pursuant to this
Chapter, shall be forwarded upon receipt to the state treasurer for immediate deposit into the
state treasury. An amount shall be allocated to the Department of Public Safety and
Corrections and to the Department of Justice, pursuant to legislative appropriation, for
regulatory, administrative, investigative, enforcement, legal, and other such expenses as may
be necessary to carry out the provisions of this Chapter and for activities associated with the
enforcement of laws and regulations governing fantasy sports contests.
F. Any fantasy sports contest operator that allows its license to lapse, without
requesting an extension of time to file for renewal of the license, shall be required to
resubmit an initial application for licensure. An extension may be granted by the board upon
receipt of a written request prior to the lapse of the license.
G. A license issued by the board to a fantasy sports contest operator shall not be
transferable.

Legislative History

Acts 2020, No. 141, §1, eff. June 9, 2020.