As used in this article, unless the context otherwise requires, the following words and phrases have meanings indicated:
(a) "Applicant" means any person or entity applying for a license.
(b) "Adjusted gross receipts" means the gross receipts of a gaming facility from West Virginia Lottery table games less winnings paid to wagerers in such games.
(c) "Annual average gross receipts of the pari-mutuel racetracks with table games licenses" means the amount obtained by adding the adjusted gross receipts of all West Virginia pari-mutuel racetracks with table games licenses and then dividing that calculation by the number of West Virginia pari-mutuel racetracks with table games licenses.
(d) "Background investigation" means a security, criminal and credit investigation of an applicant who has applied for the issuance or renewal or a license pursuant to this article or a licensee who holds a current license.
(e) "Controlling interest" means:
(1) For a partnership, an interest as a general or limited partner holding more than five percent interest in the entity;