Review of a Proposed Transfer of Interests

If a proposed transfer of interests subject to 205 CMR 229.00 will result in a change of control as defined in 205 CMR 102.02: Definitions, the proposed transferee shall, as a condition of the transfer, unless otherwise allowed by the Commission in accordance with 205 CMR 229.01(2), provide the Commission with a written agreement to assume all obligations of the Sports Wagering Licensee including, but not limited to, commitments made in the Sports Wagering License Application, all terms and conditions contained in the Sports Wagering License, Operation Certificate, and all permits, licenses, and other approvals issued by any federal, state, and local governmental agencies. Additionally, the written agreement shall include an attestation from the transferor and transferee, accompanied by relevant supporting documentation, that said transfer comports with all applicable terms and conditions of the aforementioned instruments. Prior to submitting the written agreement referenced in 205 CMR 229.04(1), a proposed transferee may petition the Commission to allow for the modification of any terms, conditions, or agreements applicable to the Sports Wagering License or Operation Certificate held by the transferor, provided that the modifications are not inconsistent with any applicable provisions of M.G.L. c. 23N and 205 CMR. (3) Notwithstanding 205 CMR 229.04(1): (a) The Commission may in its discretion require submission of any additional application material as described in 205 CMR 211.00: Category 1, Category 2, and Category 3 Sports Wagering License Applications , 215.00: Applicant and Qualifier Suitability Determination, Standards, and Procedures, or 218.00: General Sports Wagering Application Requirements, Standards, and Procedures to assist in its determination as to whether to allow a modification in accordance with 205 CMR 229.04(2) and/or approve a transfer of interests in accordance with 205 CMR 229.02. A proposed transferee shall have the same duty to cooperate with such requests for information as does an Applicant under 205 CMR 212.01: Additional Information and Cooperation.