California CodesBusiness and Professions Code - BPCDivision 8 — Special Business RegulationsChapter 5 — The Gambling Control ActArticle 4 — LicensingSection 19858.5
Notwithstanding Section 19858, the commission may, pursuant to this chapter, deem an applicant or licensee suitable to hold a state gambling license even if the applicant or licensee has a financial interest in another business that conducts lawful gambling outside the state that, if conducted within California, would be unlawful, provided that an applicant or licensee may not own, either directly or indirectly, more than a 1 percent interest in, or have control of, that business.
Notes
Allows the commission to deem an applicant or licensee suitable for a state gambling license despite a financial interest in a lawful out-of-state gambling business whose gambling would be unlawful in California. Limits this exception to a direct or indirect ownership interest of no more than 1% and prohibits the applicant or licensee from controlling that business.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 19858.5 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-8/chapter-5/article-4/section-19858-5