Gambling establishments: owner licensing.

Under existing law, a person is deemed unsuitable to hold a state gambling license to own a gambling establishment if the person, or any partner, officer, director, or shareholder of the person, has any financial interest in any business or organization that is engaged in a prohibited form of gambling, whether within or without this state, except as specified. This bill would except from the application of this provision a person or entity that has been licensed in good standing as an owner of a gambling establishment for at least 5 years as of January 1, 2013, and that has notified the California Gambling Control Commission and the Department of Justice, and been approved by the commission to obtain a financial interest in a business or organization that conducts lawful gambling outside the United States that, if conducted within California, would be unlawful.