Casino Operations Clause Samples

Casino Operations. 5.1 On or before November 15 of each year, CCM shall submit to Owner and BHC for approval within thirty (30) days, such approval shall not be unreasonably withheld, an annual operating plan for the operation of the Casino for the forthcoming year (each such approved annual operating plan is referred to herein as an "Annual Operating Plan"), which shall include an annual marketing plan, annual operating budget by month (the "Annual Operating Budget"), annual estimate of key operating statistics, annual projection of sources of cash, and a two (2) year projection of capital expenditures. The Annual Operating Plan shall include sufficient amounts for maintenance and repairs to keep the Casino in good operating condition. CCM will consult with Owner and BHC in preparing the Annual Operating Plan, provided that Owner and BHC make its representatives readily available for such consultations. If Owner and CCM cannot agree on certain portions of the proposed Annual Operating Plan or an Annual Operating Budget contained therein, the undisputed portions of the proposed Annual Operating Plan or Annual Operating Budget shall be deemed to be adopted and approved. With respect to objectionable items in any proposed Annual Operating Budget, the corresponding item contained in the Annual Operating Budget for the preceding year shall be substituted in lieu of the disputed portions of the proposed Annual Operating Budget, excluding, however, line items in the previous Annual Operating Budget for extraordinary expenses or revenues. In any instance where a portion of an Annual Operating Budget from a preceding year is deemed to be applicable to the Annual Operating Budget in effect until a new Annual Operating Budget is fully approved, corresponding items contained in the Annual Operating Budget for the preceding year shall be automatically adjusted by a percentage equal to the percentage change in the Consumer Price Index during the preceding year. 5.2 Except as provided elsewhere in this Agreement, CCM shall not, without Owner's prior written consent, incur any expenses or make any disbursements that are either not provided for in an Annual Operating Budget or are in excess of one hundred and twenty percent (120%) of the amount approved for a particular item in such Annual Operating Budget unless otherwise permitted; provided, however, that if a savings of up to forty percent (40%) is obtained for a line item, such amount may be reallocated so as to allow an excess disburse...

Casino Operations. On July 16, 1994, the Rainbow Casino located in Vicksburg, Mississippi permanently opened for business. Through a wholly-owned subsidiary, Alliance originally purchased a 45% limited partnership interest in RCVP, a Mississippi limited partnership which owns the casino, all assets (including the gaming equipment) associated with the casino and certain adjacent parcels of land. The 55% general partnership interest in RCVP was held by The Rainbow Casino Corporation, an unaffiliated Mississippi corporation ("RCC"). Pursuant to a management agreement dated October 29, 1993, and which terminates on December 31, 2010, Alliance through a wholly-owned subsidiary also serves as manager of the casino. In connection with the completion of the casino and the acquisition of its original 45% limited partnership interest, Alliance funded a $3,250,000 advance to RCC on the same terms as RCC's financing from Hospitality Franchise Systems, Inc. ("HFS") (other than the fact that such advance is subordinate to payments due to HFS). Under the terms of this financing, Alliance received a royalty of 5.2% of annual gross revenues. On March 29, 1995, Alliance consummated certain transactions whereby Alliance acquired from RCC the controlling general partnership interest in RCVP and increased its partnership interest. In exchange for the commitments by National Gaming Mississippi, Inc. ("NGM") and Alliance to provide additional financing (up to a maximum of $2,000,000 each) to be used for the completion of certain incomplete elements of the project which survived the opening of the casino (for which RCC was to have been responsible, but failed to satisfy) and a $500,000 payment also funded jointly by NGM and Alliance paid to HFS as a waiver fee, the following occurred: (i) a subsidiary of Alliance became the general partner and RCC became the limited partner and (ii) the respective partnership interests were adjusted. As a result of this adjustment, RCC is entitled to receive 10% of the net available cash flows after debt service and other items, as defined (which amount increases to 20% of cash above $35,000,000 (i.e. only on such incremental amount)), for a period of 15 years, such period being subject to one year extensions for each year in which a minimum payment of $50,000 is not made. Also, Alliance's 5.2% royalty on gross revenues was terminated on the date it became the general partner. The entire project consists of the Rainbow Casino and also includes an 89-room Days Inn h...

Casino Operations. Licensor hereby grants to Licensee for the duration ----------------- of the Term an exclusive, royalty-free, world-wide license to use the Hollywood Park Marks in connection with Casino Operations. For the avoidance of doubt, unless Licensor specifically authorizes such use pursuant to Section 2.4, Licensee may not use the ▇▇▇▇ "Hollywood Park" apart from the ▇▇▇▇ "Hollywood Park-Casino" or other Core Hollywood Park Marks identified on Attachment A. ------------

Casino Operations. 3.1 The Parties' obligations under the 1994 Framework Agreement shall be suspended only insofar as they relate to the proposed development of a casino in Saskatoon or as are modified by this Agreement, and the provisions of the 1994 Framework Agreement shall otherwise apply to all SGC casinos. 3.2 SIGA will be the proponent on behalf of the FSIN pursuant to this Agreement of casinos in Saskatchewan both on reserves and off reserves. 3.3 Subject to subsections 3.5(e), 3.6(d) and paragraph 3.6(c)(iv): a) the maximum number of SIGA casinos in the province is seven; b) the maximum number of electronic gaming machines that can be located at any one time at all SIGA casinos and VLT sites operated pursuant to this Agreement is 2,370. (Replaced – November 10, 2004; replaced January 13, 2005; replaced May 21, 2014; replaced – August 22, 2016) 3.4 The Parties acknowledge that, pursuant to the 1995 Framework Agreement, the FSIN has 620 electronic gaming machines, with another 250 machines to be made available on or about September 1, 2002. An additional 250 machines shall be made available as follows: a) 125 machines as soon as reasonably possible; and b) 125 machines when SIGA has achieved Compliance in accordance with the Casino Operating Agreement, but not sooner than August 15th, 2005. (Amended 3.5 Prior to proceeding with the development of a new SIGA casino site, the FSIN shall: a) prepare and present to the Government a specific, detailed proposal for the casino, including a development and market plan, supported by market research evidencing an identifiable viable market, that is consistent with the principles of orderly and phased development of gaming in Saskatchewan; b) prior to obtaining the approvals required under subsections (c) or (d), engage in a reasonable community notification and consultation process with respect to the proposed casino for each municipality and First Nations from which approval is required; c) in the case of a new casino site proposed to be located on a reserve, obtain: i) the approval of the First Nation of the reserve by means of a resolution passed by the Band Council; ii) if the reserve is substantially surrounded by one municipality, the approval of the council of that municipality by means of a resolution passed by the council; and iii) if a municipality in the vicinity of the reserve will constitute the major market for the proposed casino, the approval of the council of that municipality by means of a resolution passed by...

Casino Operations. The parties also agreed under the MOA to cause and procure that the relevant Joint Venture Companies enter into lease agreements and commercial agreements with PBL Macau for the lease to PBL Macau of the casino areas (including high roller areas/VIP rooms) and electronic gaming machine lounges owned or developed by the Joint Venture Companies in Macau from time to time, and the operation thereof by PBL Macau under the Subconcession. The parties also agreed to cause PBL Macau to enter into service agreements with relevant Joint Venture Companies in relation to the provision of relevant non gaming services by the relevant Joint Venture Companies (all subject to the requirements and approvals of relevant gaming regulatory authorities in Macau and/or Australia).

Casino Operations. Subject to the terms and conditions set forth in 166

Casino Operations. The parties agree to cause and procure that the relevant Group Companies (including, without limitation, Great Wonders, Investments Limited and Melco Hotels and Resorts (Macau) Limited) as one party and PBL Macau as the other party to enter into Lease Agreements and Commercial Agreements for the lease to PBL Macau of the casino areas (including high roller areas/VIP rooms) and electronic gaming machine lounges owned or developed by the Group in Macau from time to time, and operation thereof by PBL Macau under the Subconcession and the parties shall cause PBL Macau to enter into Service Agreements with relevant Group Companies in relation to the provision of relevant services by the Group Company (all subject to the requirements of relevant gaming regulatory authorities in Macau or Australia) on the principal terms discussed by the parties and on the following terms: (i) PBL Macau shall be entitled to an amount of 53% of gross gaming revenue in respect of table games in the casino (and shall be responsible for the payment of tax to the Government of Macau SAR); and (ii) PBL Macau shall be entitled to an amount of 69% of gross gaming revenue in respect of slot machines (and shall be responsible for the payment of tax to the Government of Macau SAR).