This text of Nevada § 463.765 (Initial license fee to operate interactive gaming; renewal fee; regulations relating to increasing and decreasing fees) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
1. Unless a different fee is established pursuant to this section:
(a)Before issuing an initial license for an establishment to operate interactive gaming, the Commission shall charge and collect from the establishment a license fee of $500,000.
(b)Each initial license for an establishment to operate interactive gaming must be issued for a 2-year period beginning on January 1 of the first year and ending on December 31 of the second year.
(c)Notwithstanding the provisions of paragraphs (a) and (b) to the contrary, a license for an establishment to operate interactive gaming may be issued after January 1 of a calendar year for a period beginning on the date of issuance of the license and ending on the second December 31 following the date of issuance of the license. Before issuing an ini
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1. Unless a different fee is established pursuant to this section:
(a) Before issuing an initial license for an establishment to operate interactive gaming, the Commission shall charge and collect from the establishment a license fee of $500,000.
(b) Each initial license for an establishment to operate interactive gaming must be issued for a 2-year period beginning on January 1 of the first year and ending on December 31 of the second year.
(c) Notwithstanding the provisions of paragraphs (a) and (b) to the contrary, a license for an establishment to operate interactive gaming may be issued after January 1 of a calendar year for a period beginning on the date of issuance of the license and ending on the second December 31 following the date of issuance of the license. Before issuing an initial license pursuant to this subsection, the Commission shall charge and collect from the establishment a license fee of $500,000 prorated by 1/24 for each full month between January 1 of the calendar year and the date of issuance of the license.
(d) Before renewing a license issued pursuant to this section, but in no case later than the second December 31 after the license was issued or previously renewed, the Commission shall charge and collect a renewal fee of $250,000 for the renewal of the license for the immediately following 1-year period.
2. The Commission may, by regulation, increase the license fee pursuant to this section to not more than $1,000,000 and the renewal fee to not more than $500,000 if the Commission determines one or more of the following:
(a) A higher fee is necessary to ensure licensees have the financial capacity to operate interactive gaming;
(b) Regulatory costs to carry out the duties of the Commission and the Board, outside of investigative costs, require additional personnel or other regulatory expenditures;
(c) A higher fee is necessary because of costs incurred or other conditions associated with entering into an interactive gaming agreement with one or more other states; or
(d) Federal legislation requires a higher fee or imposes requirements necessitating the higher fee or making it advisable.
3. The Commission may, by regulation, reduce the license fee pursuant to this section to not less than $150,000 and the renewal fee to not less than $75,000 in the manner provided in this subsection. Any regulation adopted pursuant to this subsection must be adopted in accordance with the provisions of chapter 233B of NRS, and the Commission must not reduce the fees unless it determines two or more of the following:
(a) The fee is not competitive with fees charged in other jurisdictions;
(b) The low number of applicants demonstrates that the fee is too high;
(c) A lower fee would generate greater competition in the market;
(d) A lower fee is necessary because of conditions associated with entering into an interactive gaming agreement with one or more other states; or
(e) Federal legislation requires a lower fee or makes a lower fee advisable.
4. Any increase or decrease in fees established by the Commission pursuant to this section applies to the issuance or renewal of a license on or after the effective date of the increase or decrease.