The bill repeals the Colorado racing commission and the division of racing events within the department of revenue (department). The bill transfers the authorities of the Colorado racing commission to the Colorado limited gaming control commission (commission), and the bill transfers the regulatory activities of the division of racing events to the division of gaming (division).      The bill adds 2 members to the commission: One member who represents the public and one member who:      Has been engaged in the racing industry for at least 5 years;      Has been a licensed veterinarian in Colorado for at least 5 years and is currently practicing in Colorado; or      Has been engaged in business in a management-level capacity for at least 5 years.     Under current law, the Colorado limited gaming control commission (commission), at its discretion, may delegate only certain licensing duties described under the 'Limited Gaming Act of 1991' (gaming act) to the division of gaming (division). The bill allows the commission to delegate to the division licensing duties that appear elsewhere in the gaming act.     The bill authorizes investigators of the division and their supervisors to inspect, examine, investigate, hold, or impound any premises in the state where an investigator or supervisor suspects that unlicensed gaming or unlicensed sports betting is conducted.     Under current law, the division is required to operate a program that allows individuals to voluntarily exclude themselves from gaming activities in the state. The bill expands the program to allow individuals to voluntarily exclude themselves from sports betting in the state.     The bill allows the director of the division to approve optional wagers and minor modifications for commission-approved poker, blackjack, craps, and roulette games.     The bill clarifies the definition of 'race meet' for purposes of the regulation of racing events. The bill also adds other definitions of terms used in laws concerning gaming.     The bill allows the executive director of the department to delegate certain non-rule-making and nonlicensing functions to a designee.      Current law prohibits a licensee from offering certain games without acquiring prior approval from the commission. The bill changes this requirement so that a licensee must acquire prior approval from the division.(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)