Each pari-mutuel sports book and each systems operator which offers a common pari-mutuel pool, shall:

1. (1) Maintain and retain all records required by the Arkansas Racing Commission for at least five (5) years after they are made, and provide them to the commission upon the commission’s request;
2. (2) Allow the members of the commission, their agents, and employees to immediately inspect and examine the premises and immediately inspect, examine, photocopy, and audit all papers, books, and records of the pari-mutuel sports book or systems operator, on its premises or elsewhere as practicable; and
3. (3) File with the commission all reports required by the commission.