Original Section(s)

11 VAC 5-70-250 Reporting Requirements.

GLI Recommendations

11 VAC 5-70-220.D

1. A permit holder shall comply with the specific reporting requirements designated in its the MICS established in this chapter.

GLI recommends moving last sentence from 11 VAC 5-70-220.D into its own section for Reporting Requirements and adding in other reporting requirements from: 11 VAC 5-70-160.F, 11 VAC 5-70-160.H, 11 VAC 5-70-160.I, and 11 VAC 5-70-250.A

11 VAC 5-70-160.F

2. A permit holder shall generate reports necessary to record all the components of the adjusted gross revenue calculation over a specific period as required by the Director, and shall include the cash equivalent of any merchandise or thing of value awarded as a prize as required by the Director. Such reports shall distinguish information by type and status where applicable and shall meet the MICS established in this chapter.

11 VAC 5-70-160.H

3. All required reports shall be generated by the permit holder even if the period specified contains no data to be presented, in which case the report shall indicate all required information and contain an indication of “No Activity” or similar message.

11 VAC 5-70-160.I

4. A permit holder shall generate reports for each day of operation in order to calculate the adjusted gross revenue and to ensure the integrity of its sports betting platform.

11 VAC 5-70-250.A

5. A permit holder shall report to the Director by January 15th of each year:

1. 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.