The Commission shall issue a Class A-2 Sports Wagering Facility License to an applicant that meets all applicable licensing requirements under State Government Article, Title 9, Subtitle 1E, Annotated Code of Maryland, and the Commissions regulations. A Class A-2 Sports Wagering Facility License may only be issued to: A Video lottery operator with 1,000 or fewer video lottery terminals; or A horse racing licensee under Business Regulation Article, §11-510(b) that is licensed by the Racing Commission to hold racing at: A race track located at Laurel Park; and Pimlico Race Course. The nonrefundable application fee for a Class A-2 sports wagering facility license is $1,000,000. The performance bond for a Class A-2 sports wagering facility license is $3,000,000.