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Illinois Gaming Licensees
Beware: No "Grace Period" For Renewals
At their
August meeting earlier this month, the Illinois Gaming Board (IGB)
proposed a rule which would require operators to re-apply and start
the license application process anew if the IGB does not receive your
renewal fee prior to the expiration date of your current
license.
This is
potentially a huge decision to the 2231 gaming operators now
operating 9115 terminals in Illinois. Having to begin the licensing
process from the very beginning would be no
small inconvenience for your business.
It's actually
not a money issue with the state, for once, as both the new and
renewal license fees are $100 each. But as most applicants have
found the IGB moves at their own pace - there's not an exact timeline
for becoming licensed. So re-applying for a license could be a few
weeks or it could be a few months. Either way, that's a big chunk of
time you won't have gaming income, and all, potentially, because
your renewal application and fee was as late as a single day.
This is more a
cautionary warning right now, as the idea was only proposed at
their August meeting. But as new as the video gaming law is in
Illinois, the IGB is basically making the rules as they go along.
There would be an opportunity at a future monthly meeting for
licensees and/or their advocates to voice their opinions on this
proposal. Ultimately, however, the IGB will deliberate and rule how
they see fit, and who knows how that will go?
Just to be
safe, treat your gaming license renewal like the paper is made of
solid gold. However you organize - paper calendars or digital, set a
remind to begin looking for your renewal application several weeks in
advance. If you don't have it by several weeks out, inquire to the
IGB about where it is. Never schlep it off, figuring the mail is just
delayed. And once you have it, pay it immediately.
Got a horror
story about getting approved by the IGB? Have you renewed yet?
We welcome your thoughts and comments on the process. Please
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