W. Va. Code R. § 179-5-18

Current through Register Vol. XLI, No. 36, September 6, 2024

Section 179-5-18 - Examples of the preference for current permit holders

18.1. The preference for current permit holders allowed by W.Va. Code § 29-22B-1108 shall be computed by adding 5 percent of the bid price submitted by the current permit holder to the amount of the bid submitted by that holder;

18.1.a. Example for year 2031. Operator "A" holds a current permit to own or lease 500 video lottery terminals. Operator "A" submits a bid of $,000 per terminal for authorization to own or lease 500 terminals during the 10-year period that begins July 1, 2031. The minimum bid amount set by the commission is $,000 per terminal authorization. When the bids are opened and the amounts of the per terminal bids are arranged from highest to lowest, it is apparent that operator "A" is not a successful bidder for some or all of the permits sought by operator "A." Before the permits are awarded, the commission will apply the 5 percent preference to bids submitted by a current permittee whose bids equal or exceed the minimum per terminal bid authorization amount set by the commission. With this preference added, operator "A's" bid of $4,000 per terminal authorization is effectively $4,200 per terminal authorization. Because of this preference, operator "A" is a successful bidder for 500 video lottery terminal authorizations. The amount due from operator "A" will be $2.1 million plus applicable license fees. The amount due shall be paid to the commission on or before the dated set by the commission.

18.2. The preference may not be calculated on any bid that is for less than the minimum per terminal authorization bid price set by the commission.

18.3. For all bids conducted subsequent to June 30, 2011, the commission shall give a priority preference to allow current permit holders to acquire permits which are held by those permit holders at the minimum stated bid price before those permits are made available for bid to other applicants, as set forth in W. Va. Code § 29-22B-1107(a).

W. Va. Code R. § 179-5-18