Multiple slot machine license prohibition - 4 Pa. Cons. Stat. § 1330

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     § 1330.  Multiple slot machine license prohibition.
        No slot machine licensee, its affiliate, intermediary,
     subsidiary or holding company may possess an ownership or
     financial interest that is greater than 33.3% of another slot
     machine licensee or person eligible to apply for a Category 1
     license, its affiliate, intermediary, subsidiary or holding
     company. The board shall approve the terms and conditions of any
     divestiture under this section. Under no circumstances shall any
     such divestiture be approved by the board if the compensation
     for the divested interest in a person eligible to apply for a
     Category 1 license exceeds the greater of the original cost of
     the interest, the book value of the interest or an independently
     assessed value of the interest one month prior to the effective
     date of this part and, in the case of a person eligible to apply
     for a Category 1 license, unless the person acquiring the
     divested interest is required to continue conducting live racing
     at the location where live racing is currently being conducted
     in accordance with section 1303 (relating to additional Category
     1 slot machine license requirements) and be approved for a
     Category 1 slot machine license. No such slot machine license
     applicant shall be issued a slot machine license until the
     applicant has completely divested its ownership or financial
     interest that is in excess of 33.3% in another slot machine
     licensee or person eligible to apply for a Category 1 license,
     its affiliate, intermediary, subsidiary or holding company.

        Cross References.  Section 1330 is referred to in section
     1302 of this title.

Last modified: November 27, 2007