Approval

(1) Any transfer subject to M.G.L. c. 128A, § 11(C) that does not result in a new qualifier being designated in accordance with 205 CMR 15.04(5): Persons Required to Be Qualified may be approved by the Commission in a public meeting. Any transfer subject to M.G.L. c. 128A, § 11(C) that results in a new qualifier being designated in accordance with 205 CMR 15.04(5): Persons Required to Be Qualified must be approved by the Commission. Said approval shall be subject to the provisions of 205 CMR 17.04. Both the transferor and transferee shall be jointly and severally responsible for the payment of the investigatory and other fees provided for in 205 CMR 17.05. (3) In accordance with M.G.L. c. 128A, § 11(C), the commission shall approve such sale, transfer or conveyance unless it finds that the consideration therefor is (a) inadequate or (b) without good cause, (c) that the sale or transfer results in an undesirable concentration of ownership of racing facilities within the commonwealth, or (d) that the sale or transfer has an adverse impact upon the integrity of the racing industry. (Mass. Register #1580, 08/14/2026, emergency reg.) Without implied limitation, a transfer may be considered to have an adverse impact upon the integrity of the racing industry if the Commission determines that the proposed transferee does not satisfy the applicable considerations set forth in M.G.L. c. 128A, §§ 1, 2, or 3(i); 205 CMR 15.04: Suitability of New and Existing Licensees, and Qualifiers; or any other applicable provisions of M.G.L. c. 128A, M.G.L, c. 128C or 205 CMR, or if the transferee does not satisfy the provisions of 205 CMR 17.04. A prospective transferee shall establish its individual qualifications for licensure to the commission by clear and convincing evidence. (4) The Commission shall not approve the transfer of a Racing Meeting License for one year after the initial issuance of the license unless one of the following occurs: (a) the parent, holding company, or intermediary company of the Racing Meeting Licensee experiences a change in ownership resulting in a change of control; (b) the Racing Meeting Licensee fails to maintain suitability; or (c) the Commission determines that other circumstances exist which affect the Racing Meeting Licensee’s ability to conduct racing operations successfully.