(1) The board or its designee may issue a license to a parimutuel facility at which fantasy sports leagues are to be conducted and wagering on the outcome under a parimutuel system shall be permitted.
(2) A license to operate a parimutuel facility conducting fantasy sports league wagering may not be issued to an applicant unless the applicant is also licensed under Title 23, chapter 5, MCA, as gambling operator.
(3) An application to operate as a fantasy sports parimutuel facility must be filed on a form provided by the board, and must include a copy of a valid, current, state-issued gambling establishment operator license in good standing, and the appropriate application fee.
(4) The board or its designee shall conduct investigations or inspections or request additional information from the applicant as it deems appropriate in determining whether to approve the license application. The correct initial license application fee must accompany an application. The fee is nonrefundable.
(5) A parimutuel facility license shall be in effect from January 1 to December 31 of each year and shall be renewed annually unless otherwise rescinded by the board.