Authority: IC 4-33-4; IC 4-35-4
Affected: IC 4-33; IC 4-35
licensee or casino license applicant shall not make distributions to its
partners, shareholders, itself, or an affiliated entity if the distribution
will impair the financial viability of the casino gambling operation. Factors
to be considered when determining impairment include, but are not limited to,
(1) Cash flow, casino cash, and
working capital requirements.
Debt service obligations and covenants associated with financial
(3) Requirements for
repairs and maintenance.
Requirements for capital improvements.
(5) Requirements of the casino licensee's or
casino license applicant's financial projections.
(6) Requirements to meet the obligations of
the casino licensee or casino license applicant pursuant to a development
agreement or the equivalent between the local community and the casino licensee
or the casino license applicant or the conditions that were made a part of the
certificate of suitability or the casino owner's license, or both.
(b) Notwithstanding subsection
(a), distributions to partners or shareholders that are used for the payment of
federal or state taxes, or both, shall not violate this rule.