Section 60-2E-35 – Internal control systems.
A. Each gaming operator licensee shall adopt internal control systems that shall include provisions for: (1) safeguarding its assets and revenues, especially the recording of cash and evidences of indebtedness; (2) making and maintaining reliable records, accounts and reports of transactions, operations and events, including reports to the board; and (3) a system by which […]
Section 60-2E-36 – Gaming employees; issuance of work permits; revocation of work permits.
A. A person shall not be employed as a gaming employee unless the person holds a valid work permit issued by the board. B. A work permit shall be issued and may be revoked by the board as provided in regulations adopted by the board. C. Any person whose work permit has been denied or […]
Section 60-2E-37 – Age requirement for patrons and gaming employees.
A person under the age of twenty-one years shall not: A. play, be allowed to play, place wagers on or collect winnings from, whether personally or through an agent, any game authorized or offered to play pursuant to the Gaming Control Act; or B. be employed as a gaming employee. History: Laws 1997, ch. 190, […]
Section 60-2E-38 – Calculation of net take; certain expenses not deductible.
In calculating net take from gaming machines, the actual cost to the licensee of any personal property distributed to a patron as the result of a legitimate wager may be deducted as a loss, except for travel expenses, food, refreshments, lodging or services. For the purposes of this section, “as the result of a legitimate […]
Section 60-2E-39 – Limitations on taxes and license fees.
A political subdivision of the state shall not impose a license fee or tax on any licensee licensed pursuant to the Gaming Control Act except for the imposition of property taxes, local option gross receipts taxes with respect to receipts not subject to the gaming tax and the distribution provided for and determined pursuant to […]
Section 60-2E-25 – Report of proposed issuance or transfer of ownership; report of change in corporate officers and directors; approval of board.
A. Before a company licensee, other than a publicly traded corporation, may issue or transfer five percent or more of its ownership to a person, it shall file a report of its proposed action with the board, which report shall request the approval of the board. The board shall have ninety days within which to […]
Section 60-2E-26 – Gaming operator licensees; general provisions; business plan; player age limit; restrictions.
A. An applicant for a gaming operator’s license shall submit with the application a plan for assisting in the prevention, education and treatment of compulsive gambling. The plan shall include regular educational training sessions for employees. Plan approval by the board is a condition of issuance of the license. B. An applicant for a gaming […]
Section 60-2E-12 – Conflicts of interest; board; executive director; employees.
A. In addition to all other provisions of New Mexico law regarding conflicts of interest of state officials and employees, a member of the board, the executive director, an employee of the board or a person in the immediate family of or residing in the household of any of the foregoing persons, shall not: (1) […]
Section 60-2E-27 – Gaming operator licensees; special conditions for racetracks; number of gaming machines; days and hours of operations.
A. A racetrack licensed by the state racing commission pursuant to the Horse Racing Act to conduct live horse races or simulcast races may be issued a gaming operator’s license to operate gaming machines on its premises where live racing is conducted. B. A racetrack’s gaming operator’s license shall automatically become void if: (1) the […]
Section 60-2E-13 – Activities requiring licensing.
A. A person shall not conduct gaming unless the person is licensed as a gaming operator. B. A person shall not sell, supply or distribute a gaming device or associated equipment for use or play in this state or for use or play outside of this state from a location within this state unless the […]