Virginia Law

A. A permit holder shall report to the director by January 15 of each year:

1. The total amount of wagers received from players in the Commonwealth of Virginia for the immediately preceding calendar year;

2. The adjusted gross revenue of the permit holder in the Commonwealth of Virginia for the immediately preceding calendar year;

3. The aggregate annual payout of the permit holder for the immediately preceding calendar year; and

4. Any additional information required by the director.

B. A permit holder shall promptly report to the director any information relating to:

1. The name, home address, and date of birth of any new officer, director, general partner, manager, trustee, or principal of the permit holder or supplier or their parent, holding, intermediary, or subsidiary (whether or not wholly owned), and the individual shall submit to the director any required application within 30 days;

2. Potential purchase or sale, transfer, assignment, gift or donation, or other disposal or acquisition of 5.0% or more ownership in the permit holder, with an acknowledgment that the transaction may require an application and findings of suitability and may not occur until advance approval is given by the director, unless the ownership is of a publicly-traded entity not otherwise considered a change in control; and

3. The resignation, termination, removal, or departure of any new officer, director, general partner, manager, trustee, or principal of the permit holder, its parent, holding, intermediary, or subsidiary (whether or not wholly owned).