1. A. A facility operator shall cause its annual financial statements to be audited in accordance with generally accepted auditing standards by an independent certified public accountant.

2. B. The annual financial statements shall be:

   1. (1) Prepared on a comparative basis for the current and prior fiscal year and present financial position and results of operations in conformity with generally accepted accounting principles in the United States; and
   2. (2) If the revenue and assets of the Maryland facility operator operations are less than 75 percent of the combined total of the operator’s parent, Maryland specific audited annual financial statements of the facility operator revenue and assets.
3. C. The audited financial statements shall include a footnote reconciling and explaining any difference between the financial statements included in any report submitted to the Commission under Regulation .06 of this chapter and the audited financial statements.

4. D. A facility operator shall with regard to adjustments resulting from the annual audit:

   1. (1) Disclose to the Commission all adjustments whether or not recorded in the accounting records; and
   2. (2) Record the adjustment in the accounting records of the year to which the adjustment relates.

5. E. No later than 90 days after the end of its fiscal year, a facility operator shall submit to the Commission:

   1. (1) A copy of its audited financial statements; and
   2. (2) Any management letter or report prepared with regard to the financial statements by its independent certified public accountant.

6. F. A facility operator shall require the independent certified public accountant auditing its financial statements or other qualified entity approved by the Commission to render the following additional reports:

   1. (1) A report identifying:

      1. (a) Material weaknesses or significant deficiencies in the facility operator’s Commission-approved internal controls noted in the course of the examination of the financial statements; and
      2. (b) Recommendations as to how to eliminate each material weakness or significant deficiency identified; and
   2. (2) A report assessing the adequacy and effectiveness of the facility operator’s information technology security controls and system configurations with recommendations as to how to eliminate each material weakness or significant deficiency identified.
7. G. A facility operator shall prepare a written response to the reports required by §F of this regulation which includes details as to any corrective action taken.

8. H. No later than 120 days after the end of its fiscal year, a facility operator shall submit to the Commission a copy of:

   1. (1) The reports required under §F of this regulation;
   2. (2) The response required under §G of this regulation; and
   3. (3) Any other report on internal controls or other matters relative to its accounting or operating procedures rendered by its independent certified public accountant.

9. I. If a facility operator or any of its affiliates are publicly held, the facility operator shall submit to the Commission a copy of:

   1. (1) Any report required to be filed with the Securities and Exchange Commission including:

      1. (a) Form S-1;
      2. (b) Form 8-K;
      3. (c) Form 10-Q;
      4. (d) Form 10-K;
      5. (e) Proxy statement;
      6. (f) Information statement; and
      7. (g) Registration statement; and
   2. (2) Any other report required to be filed with a domestic or foreign securities regulatory agency.
10. J. A report required to be filed under §I of this regulation shall be submitted to the Commission no later than 10 days after the date of filing with the applicable agency.

11. K. A facility operator shall submit a written report to the Commission if an independent certified public accountant who is engaged as the principal accountant to audit its financial statements:

    1. (1) Resigns;
    2. (2) Is dismissed as the facility operator’s principal accountant; or
    3. (3) Is replaced by another independent certified public accountant as principal accountant.

12. L. A report required to be filed under §K of this regulation shall include:

    1. (1) The date of the resignation, dismissal, or new engagement;

    2. (2) Whether in connection with the audits of the 2 most recent years preceding a resignation, dismissal, or new engagement there were any disagreements, resolved or unresolved, with the former accountant on:

       1. (a) Accounting principles or practices;
       2. (b) Financial statement disclosure; or
       3. (c) Auditing scope or procedure;
    3. (3) The nature of any disagreement disclosed in §L(2) of this regulation;
    4. (4) Whether the principal accountant’s report on the financial statements for either of the past 2 years contained an adverse opinion or disclaimer of opinion or was qualified;
    5. (5) The nature of any adverse opinion, disclaimer of opinion, or qualification; and
    6. (6) A letter from the former principal accountant addressed to the Commission stating whether the principal accountant concurs with the statements made by the facility operator in the report to the Commission submitted under this section.
13. M. A report required to be filed under §K of this regulation shall be submitted to the Commission no later than 10 days after the end of the month in which the resignation, dismissal, or new engagement occurred.
14. N. No later than 7 days after the date of filing with the Financial Crimes Enforcement Network, a facility operator shall provide the Commission with access to each Suspicious Activity Report-Casino filed under 31 CFR §103.21.
15. O. A facility operator or a director, officer, employee, or agent of a facility operator who reports suspicious activity under 31 CFR §103.21 may not notify an individual involved in the suspicious activity that the suspicious activity has been reported.
16. P. No later than 7 days after the date of filing with the Financial Crimes Enforcement Network, a facility operator shall provide the Commission with access to each Currency Transaction Report by Casino filed under 31 CFR §103.22.
17. Q. At least 30 days before video lottery terminal operations are to commence, a facility operator shall submit to the Commission a copy of its compliance program required under 31 CFR §103.64.
18. R. On or before the effective date, a facility operator shall submit to the Commission any change or amendment to its compliance program required under 31 CFR §103.64.

Authority: Family Law Article, §10-113.1; State Government Article, §§ 9-1A- 01, 9-1A- 02, 9-1A- 04, and 9-1A-24, Annotated Code of Maryland

Effective date:

Regulations .01— .49 adopted as an emergency provision effective March 1, 2013 (40:6 Md. R. 470); emergency action expired effective July 20, 2013

Regulations .01— .49 adopted effective adopted effective August 19, 2013 (40:16 Md. R. 1347)

Regulation .02D amended effective October 23, 2017 (44:21 Md. R. 985)

Regulation .03C amended effective October 19, 2020 (47:21 Md. R. 905)

Regulation .07 amended effective March 30, 2015 (42:6 Md. R. 515)

Regulation .07B amended effective July 7, 2025 (52:13 Md. R. 657)

Regulation .07F amended effective August 17, 2015 (42:16 Md. R. 1056)

Regulation .07F, L amended effective September 26, 2016 (43:19 Md. R. 1073)

Regulation .07N, P amended effective November 14, 2022 (49:23 Md. R. 997)

Regulation .08 amended effective January 7, 2016 (42:26 Md. R. 1597)

Regulation .08F amended effective March 30, 2015 (42:6 Md. R. 515)

Regulation .09 amended effective March 30, 2015 (42:6 Md. R. 515)

Regulation .10 amended effective January 7, 2016 (42:26 Md. R. 1597)

Regulation .11C amended effective October 23, 2017 (44:21 Md. R. 985)

Regulation .11D amended effective January 2, 2017 (43:26 Md. R 1450)

Regulation .11J amended effective April 27, 2026 (53:8 Md. R. 356)

Regulation .12C amended effective July 7, 2025 (52:13 Md. R. 657); April 27, 2026 (53:8 Md. R. 356)

Regulation .14C amended effective July 7, 2025 (52:13 Md. R. 657)

Regulation .16 amended effective October 19, 2020 (47:21 Md. R. 905)

Regulation .16B amended effective January 7, 2016 (42:26 Md. R. 1597)

Regulation .16C amended effective May 26, 2014 (41:10 Md. R. 566)

Regulation .16C, D amended effective October 22, 2018 (45:21 Md. R. 976); November 14, 2022 (49:23 Md. R. 997)

Regulation .16D amended as an emergency provision effective December 12, 2023 (50:26 Md. R. 1130); amended permanently effective May 27, 2024 (51:10 Md. R. 529)

Regulation .18B amended effective March 30, 2015 (42:6 Md. R. 515)

Regulation .19E amended effective October 23, 2017 (44:21 Md. R. 985); October 22, 2018 (45:21 Md. R. 976)

Regulation .20 amended effective October 22, 2018 (45:21 Md. R. 976)

Regulation .20F, I amended effective March 30, 2015 (42:6 Md. R. 515); October 23, 2017 (44:21 Md. R. 985)

Regulation .20F, G, I amended effective September 26, 2016 (43:19 Md. R. 1073)

Regulation .20F amended effective October 7, 2019 (46:20 Md. R. 848); September 6, 2021 (48:18 Md. R. 695)

Regulation .20F amended as an emergency provision effective December 12, 2023 (50:26 Md. R. 1130); amended permanently effective May 27, 2024 (51:10 Md. R. 529)

Regulation .20K adopted effective October 19, 2020 (47:21 Md. R. 905)

Regulation .20K amended as an emergency provision effective December 12, 2023 (50:26 Md. R. 1130); July 7, 2025 (52:13 Md, R. 657)

Regulation .21 amended as an emergency provision effective December 12, 2023 (50:26 Md. R. 1130); amended permanently effective May 27, 2024 (51:10 Md. R. 529)

Regulation .21D amended effective January 7, 2016 (42:26 Md. R. 1597)

Regulation .23E amended effective March 13, 2017 (44:5 Md. R. 294)

Regulation .24 amended effective March 30, 2015 (42:6 Md. R. 515)

Regulation .24D, I amended effective September 26, 2016 (43:19 Md. R. 1073)

Regulation .24P, Q amended effective October 23, 2017 (44:21 Md. R. 985)

Regulation .26C amended effective March 30, 2015 (42:6 Md. R. 515); September 26, 2016 (43:19 Md. R. 1073); October 22, 2018 (45:21 Md. R. 976)

Regulation .26D adopted effective October 7, 2019 (46:20 Md. R. 848)

Regulation .27 amended effective March 30, 2015 (42:6 Md. R. 515)

Regulation .27C amended effective September 26, 2016 (43:19 Md. R. 1073); October 22, 2018 (45:21 Md. R. 976)

Regulation .27D amended effective October 23, 2017 (44:21 Md. R. 985); October 22, 2018 (45:21 Md. R. 976)

Regulation .27E adopted effective October 7, 2019 (46:20 Md. R. 848)

Regulation .28 amended effective March 30, 2015 (42:6 Md. R. 515); October 19, 2020 (47:21 Md. R. 905)

Regulation .28C amended effective January 7, 2016 (42:26 Md. R. 1597); October 23, 2017 (44:21 Md. R. 985); October 7, 2019 (46:20 Md. R. 848); September 6, 2021 (48:18 Md. R. 695); July 7, 2025 (52:13 Md. R. 657)

Regulation .28C, G amended effective October 22, 2018 (45:21 Md. R. 976)

Regulation .28H amended effective March 13, 2017 (44:5 Md. R. 294)

Regulation .28J adopted effective October 7, 2019 (46:20 Md. R. 848)

Regulation .29A amended as an emergency provision effective November 7, 2013 (40:24 Md. R. 2015); amended permanently effective February 3, 2014 (41:2 Md. R. 93)

Regulation .29A, D amended effective October 22, 2018 (45:21 Md. R. 976)

Regulation .30 amended effective March 30, 2015 (42:6 Md. R. 515)

Regulation .31B amended effective October 22, 2018 (45:21 Md. R. 976)

Regulation .32 amended effective March 30, 2015 (42:6 Md. R. 515)

Regulation .34D amended effective March 30, 2015 (42:6 Md. R. 515)

Regulation .34E adopted as an emergency provision effective December 12, 2023 (50:26 Md. R. 1130); amended permanently effective May 27, 2024 (51:10 Md. R. 529)

Regulation .35B amended effective March 30, 2015 (42:6 Md. R. 515)

Regulation .36D amended effective September 26, 2016 (43:19 Md. R. 1073)

Regulation .36F amended effective December 12, 2013 (40:24 Md. R. 2018)

Regulation .37B amended effective November 14, 2022 (49:23 Md. R. 997)

Regulation .38 amended effective October 23, 2017 (44:21 Md. R. 985)

Regulation .38C amended effective August 17, 2015 (42:16 Md. R. 1056); May 25, 2026 (53:10 Md. R. 459)

Regulation .38D amended effective March 30, 2015 (42:6 Md. R. 515); October 22, 2018 (45:21 Md. R. 976)

Regulation .38F amended effective January 7, 2016 (42:26 Md. R. 1597)

Regulation .38G amended effective October 22, 2018 (45:21 Md. R. 976); October 7, 2019 (46:20 Md. R. 848); September 6, 2021 (48:18 Md. R. 695)

Regulation .38H adopted effective July 7, 2025 (52:13 Md. R. 657)

Regulation .41C amended effective March 30, 2015 (42:6 Md. R. 515); October 23, 2017 (44:21 Md. R. 985); October 22, 2018 (45:21 Md. R. 976)

Regulation .42A, E amended effective March 30, 2015 (42:6 Md. R. 515); January 7, 2016 (42:26 Md. R. 1597)

Regulation .42E amended effective October 23, 2017 (44:21 Md. R. 985)

Regulation .43 amended effective March 30, 2015 (42:6 Md. R. 515)

Regulation .43A amended effective October 22, 2018 (45:21 Md. R. 976)

Regulation .43B, G amended effective January 7, 2016 (42:26 Md. R. 1597)

Regulation .43K adopted effective April 27, 2026 (53:8 Md. R. 356)

Regulation .44A amended effective September 26, 2016 (43:19 Md. R. 1073)

Regulation .45 amended effective September 26, 2016 (43:19 Md. R. 1073)

Regulation .45C amended effective October 22, 2018 (45:21 Md. R. 976)

Regulation .49A amended effective March 30, 2015 (42:6 Md. R. 515)

Regulation .49 amended effective September 26, 2016 (43:19 Md. R. 1073)

Regulation .49D amended effective December 12, 2013 (40:24 Md. R. 2018)

Regulation .50 adopted effective March 13, 2017 (44:5 Md. R. 294)

Regulation .51 adopted effective October 23, 2017 (44:21 Md. R. 985)

Regulation .52 adopted effective July 7, 2025 (52:13 Md. R. 657)