N.J. Admin. Code § 13:69C-4.1 - Definitions
The following words and terms, when used in this subchapter, shall have the following meanings:
"Affiliate" is defined at 13:69-1.2.
"Capital and maintenance expenditures" means expense items related to the approved casino hotel which are incurred in connection with furniture, fixtures, equipment and facilities, and capitalized costs. Such term shall include acquisition; replacement; repairs; refurbishment; renovation; improvements; and maintenance, including public area housekeeping, and labor.
"Casino bankroll" means cash maintained in the casino, excluding any funds necessary for the normal operation of the casino, such as change banks, slot hopper fills, slot booths, cashier imprest funds and redemption area funds.
"Debt service requirements" means the sum of cash interest payments and scheduled principal repayments.
"Equivalent provisions" means lines of credit, parent company guarantees, or other arrangements approved by the Division through which funds can be accessed on a timely and as needed basis.
"Gross operating profit" means net revenues less operating expenses, as reflected on the casino licensee's or applicant's Division Statement of Income.
"Material debt" means debt of $ 50,000,000 or more, whether in a single transaction or cumulative transactions during any 12-month period, or such other amount as the Division may determine is appropriate to ensure the continued financial stability of a casino licensee or applicant. Material debt includes a guarantee of the debt of an affiliate, whether by cosignature or otherwise; an assumption of the debt of an affiliate, or an agreement to place any encumbrance on its approved casino hotel facility to secure the debts of an affiliate.
"Operating expenses" means the total of casino expenses; rooms, food, and beverage expenses; and general, administrative, and other expenses as indicated on the casino licensee's or applicant's Division Statement of Income.
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.