Limited Partnership Interest (Gaming Law) Law and Legal Definition

Limited partnership interest with regard to gaming refers to the right of a general or limited partner to receive a share of the profits from a limited partnership. A limited partner is also entitled to receive any other compensation by way of income, or a return of any or all of his/her contribution to the capital of the limited partnership. S/he has the right to exercise any of the rights or powers provided by law for the limited interest s/he possesses in the partnership.