(1) The change of a business address for any licensee is not considered to be the assignment or transfer of the license if all of the following criteria are met:

(a) the licensee informs the director in writing of the change of address including the old address, the new address, and the reasons for the change of address;

(b) the old location ceases all business activity by the licensee and not merely the sale of tickets, chances, wagers, or bets;

(c) the new license location does not begin the transaction of any business prior to the cessation of all business at the previous location;

(d) the director is satisfied that the change in location meets all the requirements for initial licensure.

(2) If all the criteria in (1) are met, the director shall issue a license bearing the new address, with the same identification number.