(a)Application for license.--An application for an initial or renewal license shall be in the form and manner prescribed by the commission in accordance with this chapter. The commission may deny a license to an applicant that provides false or misleading information on or omits material information from the application. The application shall include all of the following:
(1)The applicant's legal name.
(2)The location of the applicant's principal office.
(3)The name, address and date of birth of each principal with a 5% or greater share of ownership or beneficial interest in the applicant.
(4)Audited financial statements for the last three years or, if the applicant does not have audited financial statements, financial and other pertinent information as required by the commission
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(a) Application for license.--An application for an initial or renewal license shall be in the form and manner prescribed by the commission in accordance with this chapter. The commission may deny a license to an applicant that provides false or misleading information on or omits material information from the application. The application shall include all of the following:
(1) The applicant's legal name.
(2) The location of the applicant's principal office.
(3) The name, address and date of birth of each principal with a 5% or greater share of ownership or beneficial interest in the applicant.
(4) Audited financial statements for the last three years or, if the applicant does not have audited financial statements, financial and other pertinent information as required by the commission to determine that the applicant is financially capable of operating as a going concern and protecting accounts.
(5) A detailed plan of how the wagering system will operate. The commission may require changes in the proposed plan of operations as a condition of granting a license. There shall not be subsequent material changes in the plan of operations unless ordered by the commission or until approved by the commission after receiving a written request.
(6) A list of all personnel processing wagers on races made by residents of this Commonwealth. This list shall be kept current and be provided to the commission upon request.
(7) Copies of all documents required under this subsection by the commission.
(b) Review.--In reviewing an application, the commission may consider any information, data, report, finding or other factor available that it considers important or relevant to the determination of whether the applicant is qualified to hold a license, including all of the following:
(1) The integrity of the applicant and its principals, including:
(i) Whether the applicant or its principals are unsuitable.
(ii) Whether the applicant or its principals have been a party to litigation over business practices, disciplinary actions over a business license or refusal to renew a license.
(iii) Whether the applicant or its principals have been a party to proceedings in which unfair labor practices, discrimination or violation of government regulations pertaining to racing or gaming laws was an issue or bankruptcy proceedings.
(iv) Whether the applicant or its principals have failed to satisfy judgments, orders or decrees.
(v) Whether the applicant or its principals have been delinquent in filing tax reports or remitting taxes.
(2) The quality of physical facilities and equipment.
(3) The financial ability of the applicant to conduct wagering.
(4) The protections provided to safeguard accounts, including a certification from the licensee's chief financial officer that account funds will not be commingled with other funds as required under this chapter.
(5) The management ability of the applicant and its principals.
(6) Compliance of the applicant with applicable statutes, charters, ordinances and administrative regulations.
(7) The efforts of the applicant to promote, develop and improve the horse racing industry in this Commonwealth.
(8) The efforts of the applicant to safeguard and promote the integrity of pari-mutuel wagering in this Commonwealth.
(9) The economic impact of the applicant upon the Commonwealth.