(a) A casino license may be renewed if the casino licensee:

1. (1) Submits to the Arkansas Racing Commission a renewal application on a form and in a manner prescribed by the commission at least six (6) months prior to the expiration date on the license;
2. (2) Is in good standing with the Secretary of State’s office;
3. (3) Continues to be in good standing with the Department of Finance and Administration; and
4. (4) Continues to meet all the requirements set out in this part.

(c)

1. (1) Within seven (7) days of receiving written notice from the commission that its renewal application has been approved, the casino licensee shall pay the ten-year renewal fee of ten thousand dollars ($10,000) in certified funds.
2. (2) Any certified or cashier’s check shall be payable to the State of Arkansas.

(e)

1. (1) Upon the determination that a casino licensee has not met the requirements for renewal, the commission shall provide written notice by certified mail or personal delivery to the casino licensee.
2. (2) The notice shall provide an explanation for the denial of the renewal application.
3. (3) The casino licensee whose license is not renewed pursuant to this section is entitled to a hearing before the commission and may appeal the commission’s decision pursuant to 23 CAR § 358-219.