§249.1. Issuance of permit to conduct racehorse wagering

            A. The division shall issue a permit to a qualified racehorse wagering operator to conduct racehorse wagering at the official gaming establishment in accordance with the provisions of this Chapter.

            B. An applicant for a permit to conduct racehorse wagering shall submit with his application a written contract of the terms between the applicant and the casino gaming operator authorizing the applicant to conduct racehorse wagering at the official gaming establishment.

            C. The division shall promulgate rules and regulations for the conducting of racehorse wagering at the official gaming establishment in accordance with the provisions of this Chapter.

            D. The racehorse wagering operator shall deliver to the designated representative at the licensed racing association operated by the racehorse wagering operator twenty-five percent of the audited net profits derived from racehorse wagering authorized under this Part for use as purse supplements. These funds shall be used in addition to all other funds available for use as purses under current provisions of law. Such amounts shall be paid quarterly, within thirty days of the end of each quarter.

            Acts 2021, No. 440, §1, eff. July 1, 2021.