An enforceable agreement for lease arising from the exercise of an option to renew, which provides for turnover-based rent, gives rise to a present equitable entitlement to receive income derived from the business, constituting a 'financial interest' in a hotelier's licence for the purposes of s 19(5) of the Gaming Machines Act 2001. The fact that parties are holding over and paying a fixed rent during negotiations for a replacement lease does not, without more, extinguish the agreement for lease created by the exercise of the option. The question of the relevant date for assessing financial interest under s 19(3)(c) was left open.
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