Post G2E Casino Bsa/FinCEN/IRS Compliance Round-Up
December 2, 2010
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Dec 022010
Oct 282010
Apr 232010
Are you Prepared for BSA, OFAC, and FACTA?
Spring, 2010
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Global Gaming Business Magazine
April, 2010
The casino industry is unique when it comes to the relationship operators have with their customers. Commercial and Native American casino operations across the United States have invested billions of dollars to establish safe, comfortable and secure environments for their patrons to enjoy a dynamic entertainment experience. In addition to world-class leisure amenities that are offered in the modern casino environment, the core service provided by casinos continues to be a secure and regulated gaming experience.
As a result of the unique nature of the casino environment, numerous laws categorize casinos as financial institutions and require reporting of various financial transactions, to prevent these businesses from being used by unscrupulous people for laundering money,
Global Gaming Business
July, 2008
On February 2, 2008, the New York Giants and the New England Patriots met in Glendale, Arizona to play Super Bowl XLII. In what was the most-watched Super Bowl ever, with Nielsen Media Research reporting that 97.5 million viewers tuned in to the game, the Giants defeated the Patriots 17-14. Meanwhile, the sports books of Nevada casinos took $92.06 million in wagers on Super Bowl XLII, according the 2008 State of the States: The AGA Survey of Casino Entertainment, an annual report issued by the American Gaming Association.
The amount legally wagered pales in comparison to the total amount be on the Super Bowl. This year, USA Today estimated this figure to be approximately (Read More…)
Global Gaming Business
May, 2008
If you ask any president, CEO or general manager whose company sells products to the casino gaming industry, thwy will tell you that having a license from a jurisdiction’s regulatory body is on of the first barriers to entry.
Many industries across the globe require licenses to perform a business service or gain access to a marketplace, but the laws and regulations that govern the licensing process of vendors/suppliers of the casino gaming industry is very unique. These licensing standards include the background, (Read More…)
Global Gaming Business
March, 2008
During the past 20 years, the Native American gaming industry has changed dramatically. In the early years following the enactment of the Indian Gaming Regulatory Act of 1988, many of the Native American Class III casino facilities were basic buildings with slot machines and table games.
Contrast that with the present, where many Native American Class III casino complexes cost hundreds of millions of dollars to construct and contain structures and amenities that rival some of the top Las Vegas Casinos. The growth of the industry is also illustrated by (Read More…)
Global Gaming Business
November, 2007
The evolution of the traditional arcade coin-operated video game and the casino-style slot machine industries are at a new point in history. Slot machine manufacturers have been seeking to incorporate new and exciting themes, games formats and graphics that attract and keep players, and the traditional arcade coin-operated video gaming industry is facing similar pressures. In addition, the most recent technological advances in the types of slot machines and systems being developed are allowing for more and different ways to bridge new technological offerings. At the same time, the electronic gamine device composition of the gaming floor continues to grow and drive revenue to the casino’s bottom-line. (Read More…)
Global Gaming Business
September, 2007
In recent years, various types of promotions have been common in the world of marketing. Sweepstakes drawings and other games of chance are frequently utilized by all types of business to provide incentives for customers to visit or to buy the product or services being offered.
With the rapid expansion of the gaming industry throughout the United States, casinos are finding the need to hire marketing directors with experience in other industries, many of whom are bringing new concepts and approaches to attract new business. (Read More…)
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Global Gaming Business
November, 2006
The recent passage of the Unlawful Internet Gambling and Enforcement Act of 2006 has rocked the online gambling industry. On a daily basis, major companies working in the industry have been issuing statements declaring an intention to cease taking, or processing, U.S.-based wagers.
From a gaming industry business perspective, much of the immediate focus since the law passed has been on the adverse impact it will have on the existing structure of an industry that has largely operated in defiance of the U.S. Department of Justice’s (DOJ) long-held position that (Read More…)
