An intermediary company refers to a type of business entity that is not a natural person, such as a corporation, partnership, or limited-liability company. These companies often serve as holding entities that apply for licenses to engage in gaming activities. Additionally, an intermediary company can act as a subsidiary under a larger holding company, managing various aspects of gaming operations.
This term is commonly used in the context of gaming law, which governs the operation and regulation of gaming activities. Intermediary companies play a crucial role in ensuring compliance with legal requirements when applying for gaming licenses. Users may find relevant forms and procedures through resources like US Legal Forms, which provide templates for navigating the licensing process.
Here are a couple of examples of abatement:
For instance, a corporation that manages several casinos may establish an intermediary company to handle the licensing and regulatory compliance for each location. This structure allows for better management of legal obligations and financial responsibilities.
(hypothetical example) A limited-liability company may serve as an intermediary for a group of investors looking to enter the gaming market, applying for the necessary licenses to operate a new gaming venue.
Examples of state differences (not exhaustive):
| State | Regulatory Body | Licensing Requirements |
|---|---|---|
| New Jersey | New Jersey Division of Gaming Enforcement | Requires extensive background checks and financial disclosures. |
| Nevada | Nevada Gaming Control Board | Requires detailed application and proof of financial stability. |
| Pennsylvania | Pennsylvania Gaming Control Board | Requires a comprehensive application process including suitability assessments. |
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
| Term | Definition | Differences |
|---|---|---|
| Holding Company | A company that owns other companies' outstanding stock. | Intermediary companies specifically apply for gaming licenses, while holding companies may not. |
| Subsidiary | A company controlled by another company (the parent company). | Intermediary companies may act as subsidiaries but focus on gaming activities. |
If you believe you need to establish an intermediary company for gaming purposes, consider the following steps:
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An intermediary company applies for gaming licenses and ensures compliance with legal regulations.