(a) Only the Arkansas Racing Commission is empowered to petition ex parte for court appointment of a supervisor if the license of any person whose license is essential to the operation of a gaming establishment:

1. (1) Is revoked by the commission;
2. (2) Is suspended by the commission;
3. (3) Lapses; or
4. (4) Is surrendered because the gaming establishment or the ownership thereof has been conveyed or transferred to a secured party who does not possess the licenses necessary to operate the establishment.

(b) The decision to file such a petition is discretionary with the commission, and in determining whether such a petition shall be filed, the commission shall consider, at any time following issuance of an order revoking, suspending or allowing surrender or lapse of a casino license:

1. (1) The nature of the violation which resulted in the:

   1. (A) Revocation;
   2. (B) Suspension;
   3. (C) Surrender; or
   4. (D) Lapse;
2. (2) The ability and actions taken, if any, for a removal by licensees in good standing of persons who committed the violation;

3. (3) The involvement during a proposed supervisorship in any operation of the establishment of persons whose licenses were:

   1. (A) Revoked;
   2. (B) Suspended;
   3. (C) Surrendered; or
   4. (D) Lapsed;
4. (4) The economic impact of closure of the gaming operations upon the community in which the establishment is located;
5. (5) The economic impact of closure of the gaming operations upon the State of Arkansas;
6. (6) The prior efforts, if any, to sell the establishment;
7. (7) The involvement, if any, of undisclosed interests in the establishment;
8. (8) The presence, if any, of a publicly traded holding company and the public trading that would occur during a supervisorship;
9. (9) The current status of all fees and taxes applicable to the operation;
10. (10) The adequacy of existing financing for the operation, if continued, and the suitability of the source of such financing;
11. (11) The impact upon public confidence and trust that gaming operations in Arkansas are conducted honestly, competitively, and free from criminal and corruptive elements;
12. (12) The ownership of the gaming establishment premises or an interest therein by persons other than the offending, surrendering, or lapsed licensee;
13. (13) Any other matter material to a full and complete consideration of the particular circumstances presented; and
14. (14) The availability of two (2) or more persons qualified and willing to assume the position of supervisor for the establishment in question, unless, in the opinion of the commission, only one (1) person is available who is qualified to serve, in which case the commission may name only that person.

(d) The commission will not petition for a supervisor to continue gaming operations at any establishment if:

1. (1) A rehearing has been granted by the commission to the licensee on the revocation or suspension of his or her license and the rehearing has not been concluded;
2. (2) The gaming establishment has never been in operation and opened to the public;
3. (3) The gaming establishment is, or reasonably appears to be, insolvent; or
4. (4) Gaming operations ceased at the establishment for any reason prior to revocation, suspension, or lapse of an essential license.