11 CSR 45-53.080
Disclosure of Financial Plan
PURPOSE: This rule sets forth the requirements for disclosure of financial plan for
Class D licenses.
(1) The applicant for a Class D license must
disclose its financial projections for the
development period and for the conducting of
the race meets.
(2) Separate schedules based on the number
of racing days and the types of pari-mutuel
wagering must be included.
(3) The disclosure must include:
(A) The applicant’s requirements forbreaking even, the optimum number of racing days
and the types of betting the applicant seeks;
(B) The following assumptions and the
support for them:
1. Average daily attendance;
2. Average daily per capita handle and
average bet;
3. The retainage;
4. Admissions to track, including ticket
prices and free admissions, if any;
5. Parking volume, fees and revenues;
6. Concessions, gift shop and program
sales;
7. Cost of purses;
8. Pari-mutuel expense;
9. Breeder funds;
10. Payroll;
11. Operating supplies and service;
12. Utilities, if any;
13. Repairs and maintenance;
14. Insurance, if any;
15. Travel expense;
16. Membership expense;
17. Security expense;
18. Legal and audit expense; and
19. Debt service;
(C) The following profit and loss elements:
1. Total revenue, including projected
revenues from:
A. Retainage;
B. Breakage;
C. Admissions;
D. Parking; and
E. Concessions, gifts and program
operations;
2. Total operating expenses including
anticipated expenses for:
A. Purses;
B. Pari-mutuel;
C. Breakage to state;
D. Breeder fund;
E. Special assessments;
F. Cost of concession goods, gifts and
programs;
G. Advertising and promotion;
H. Payroll;
I. Operating supplies and service;
J. Maintenance and repairs;
K. Insurance, if any;
L. Security; and
M. Legal and audit; and
3. Nonoperating expenses including
anticipated expenses for:
A. Debt service;
B. Facility depreciation, including the
identification of method used; and
C. Equipment depreciation, including
the identification of the method used;
(D) Projected cash flow including assessments of:
1. Income, including:
A. Equity contributions;
B. Debt contributions;
C. Interest income; and
D. Operating revenue; and
2. Disbursements, including:
A. Land;
B. Improvements;
C. Equipment;
D. Debt service;
E. Operating expense; and
F. Organizational expense; and
(E) Project balance sheets as of the end of
the development period and for the requested
race meets setting forth—
1. Current fixed and other noncurrent
assets;
2. Current and long-term liabilities; and
3. Capital accounts.
(4) The applicant must also disclose an
accountant’s report of the financial projections.
(5) The commission will utilize financial projections in deciding whether to issue Class D
licenses. Neither acceptance of a license
application nor issuance of a license shall
bind the commission as to matters within its
discretion, including, but not limited to,
assignment of racing days and design of types
of permissible pari-mutuel pools.
AUTHORITY: section 313.580, RSMo 1986.*
This rule originally filed as 12 CSR 5013.080. Emergency rule filed June 5, 1986,
effective June 15, 1986, expired Oct. 13,
1986. Original rule filed June 12, 1986,
effective Oct. 27, 1986. Moved to 11 CSR 4553.080, effective Aug. 28, 1995.
*Original authority: 313.580, RSMo 1986.