Current through Register Vol. 47, No. 5,
March 10, 2024
30-1601
Definitions for accounting regulations.
In addition to definitions previously set forth in these
rules and regulations, the following definitions apply to accounting
regulations as established in Rule 16:
(1) "Business Year" means the annual period
used by a licensee for internal accounting purposes.
(2) "Commonly Owned Casinos" means casino
licensees owned by the same company.
(3) "Examination or Examine" means an audit,
review, or other Division examination procedures.
(4) "Fiscal Year" means a period beginning on
July 1st and ending June 30th of the following year.
(5) "Group A" means a licensee who has 1 to
74 slot machines only.
(6) "Group
B" means a licensee who has 75 to 299 total devices or at least one table
game.
(7) "Group C" means a
licensee who has 300 or more total devices.
(8) "Slot Route Operator" means a licensed
operator who places slot machines on another licensed retailer's
property.
(9) Deleted Pursuant to
S.B. 92-132
(10) Deleted Pursuant
to S.B. 92-132
30-1602
Accounting and financial records.
(1) Pursuant to 30-1607, each licensee must
keep accurate, complete and legible records of all transactions pertaining to
revenue that is taxable or subject to fees under Article
30 of Title
44, C.R.S. A licensee who keeps records
in a computerized form or imaging system must provide the Division, on its
request, with a detailed index to the imaging system or computer database. All
such records must be made available upon demand to employees of the Commission
and Division.
(2) Each licensee
must keep general accounting records on a double entry system of accounting,
maintaining necessary detailed, supporting, subsidiary records, including:
(a) Detailed records identifying revenues,
expenses, assets, liabilities, and equity for each establishment;
(b) Detailed records of all returned
checks;
(c) Slot and table game
statistical reports and supporting documentation as required by the internal
control minimum procedures;
(d) The
records required by the internal control minimum procedures, as approved by the
Division, applicable to the licensee;
(e) Journal entries prepared by the licensee
and adjustments proposed by its independent accountant;
(f) Any other records that the Division
specifically requires to be maintained; and
(g) All tax returns relating to the licensed
establishment.
(3) Each
licensee must create and maintain detailed records sufficient to accurately
reflect adjusted gross proceeds, and expenses relating to its operations on a
monthly and year-to-date basis, as well as financial statements.
(4) If a licensee fails to keep the records
used by it to calculate adjusted gross proceeds, the Division may compute and
determine the amount of taxable proceeds upon the basis of an audit conducted
by the Division, upon any information within the Division's possession, upon
statistical analysis or projections, or by other means determined by the
Division based on best information available. (30-1602 amended perm. 10/30/99)
Eff 11/30/2006
30-1603
Adjusted gross proceeds
computations.
(1) For each casino table
game, adjusted gross proceeds equals the closing bankroll plus credit slips for
cash, chips, or tokens returned to the casino cashier cage, plus drop, plus
face value of coupons, plus tournament entry fees, less opening bankroll and
less fills to the table. Amended 7/15/14
(2) For each gaming device, adjusted gross
proceeds equals:
(a) Drop, plus tickets
dropped, plus slot coupons dropped, plus cashable electronic promotion in, plus
non-cashable electronic promotion in, plus tournament adjusted gross proceeds;
and
(b) Minus fills to the machine,
minus hand pay jackpot pay outs, minus hand pay external bonus pay outs and
accumulated credits, minus non-cashable electronic promotion out, and minus
tickets redeemed or minus tickets issued that are not yet expired.
Licensees that use tickets issued as a tax deduction must
make an adjustment to their tax returns for unredeemed expired tickets.
licenses must also inform the Division's Audit Section as to which deduction
method they are using- Tickets Redeemed or Tickets issued.
The initial hopper load is not a fill and does not affect
adjusted gross proceeds. The difference between the initial hopper load (or the
amount in the hopper at the time of the previous hopper count if the
coins/tokens counted were returned to the hopper) and the total amount that is
in the hopper at the time the hopper is currently counted must be adjusted
accordingly as additional revenues or a credit adjustment when calculating
adjusted gross proceeds. This amount is reported on the monthly gaming tax
return for the month in which the hopper count was conducted and is reflected
in the hopper adjustment column for the corresponding denomination. Hoppers
must also be counted, and the corresponding adjustment reflected on the gaming
tax returns at other times as specified in the internal control minimum
procedures. If a licensee does not make or makes inaccurate additions or
subtractions when calculating adjusted gross proceeds, the Division may compute
an estimated total amount in the gaming device hoppers and may make reasonable
adjustments to adjusted gross proceeds during the course of an audit, review,
or other examination procedures. Rev effective 1/14/2012, Amended
12/15/13, Amended 7/15/14; Amended 10/15/20
(3) For each player banked poker
game, adjusted gross proceeds equals all money received by the licensee as
compensation through the rake process, for conducting the game, plus poker
tournament entry fees. (30-1603(3) amended; perm. 11/30/96)
(4) For each house banked poker game,
adjusted gross proceeds equals the closing bankroll plus credit slips for cash,
chips, or tokens returned to the casino cashier cage, plus drop, plus face
value of coupons, plus tournament entry fees, less opening bankroll, less fills
to the table, less tickets redeemed, and less hand-paid jackpots or awards.
Effective 12/15/13 (30-1603(4) (shill computations) deleted; new (4) added,
perm. 11/30/96) Eff 11/30/2006 Eff 11/30/2006, Amended
7/15/14
(5) A licensee
shall not exclude from adjusted gross proceeds money paid out on wagers that
are knowingly accepted by the licensee in violation of Article
30 of Title
44, C.R.S., or the regulations
thereunder of the Commission. Eff 11/30/2006
(6) Returned and uncollectable checks are not
allowed as a deduction from adjusted gross proceeds. (30-1603 amended perm.
10/30/99 Eff 11/30/2006
(7) A licensee shall not exclude from
adjusted gross proceeds money paid out on wagers that exceed the value of the
winning combination posted unless previously approved by the
Division.
(8) A licensee can cancel
unclaimed jackpot receipts and the related jackpot slips three years after the
date the unclaimed slips were generated. An unclaimed jackpot receipt is
completed when a patron is unable to provide proper identification for jackpot
payouts greater than or equal to $1,200.
30-1604
Records of ownership -
corporation.
(1) Each corporate
licensee must keep on the premises of its gaming establishment, or must provide
to the Division upon its request, the following documents pertaining to the
corporation:
(a) A certified copy of the
articles of incorporation and any amendments;
(b) A copy of the bylaws and any
amendments;
(c) A copy of the
certificate issued by the Colorado secretary of state authorizing the
corporation to transact business in Colorado;
(d) A list of all current and former officers
and directors;
(e) Minutes of all
meetings of the stockholders;
(f)
Minutes of all meetings of the directors;
(g) A list of all stockholders listing each
stockholder's name, address, the number of shares held, and the date the shares
were acquired;
(h) The stock
certificate ledger;
(i) A record of
all transfers of the corporation's stock; and
(j) A record of amounts paid to the
corporation for issuance of stock and other capital contributions.
30-1605
Partnership or association records.
(1) Each partnership or association licensee
must keep on the premises of its gaming establishment, or provide to the
Division upon its request, the following documents pertaining to the
partnership:
(a) A copy of the partnership or
association agreement and, if applicable, the certificate of limited
partnership;
(b) A list of the
general and limited partners, or associates, including their names and
addresses, the percentage of interest held by each, the amount and date of each
capital contribution of each partner or associate, the date the interest was
acquired, and the salary paid by the partnership or association; and
(c) A record of all withdrawals of
partnership or association funds or assets.
30-1606
Sole proprietor records.
Each sole proprietorship licensee must keep on the premises
of its gaming establishment, or provide to the Division upon its request, a
schedule showing the name and address of the proprietor and the amount and date
of the proprietor's original investment and of any additions and
withdrawals.
30-1607
Records retention - noncompliance.
Each licensee must provide the Division, upon its request,
with the records required to be maintained. Licensees must maintain accurate
and complete records as required in the Internal Control Minimum Procedures.
Each licensee is responsible for the acts and omissions of its agents,
employees, and contractors in complying with all obligations imposed by law,
these rules, and Internal Control Minimum Procedures. Each licensee must retain
all such records for at least three years after they are made and the related
gaming tax return is filed. Records include but are not limited to formats as
hard copy documents, revenue system database, tables and fields structures of
the database, meter files, and electronic reports. Failure to keep and provide
such records is an unsuitable method of operation and subject to a fine,
penalty, or revocation of license. All such records must be made available to
the Division upon request. (30-1607 amended perm. 10/30/99) Effective
11/30/2006
30-1608
Commission examination procedures.
(1) The Division of Gaming shall:
(a) Conduct periodic examinations of the
accounting and financial records of licensees, including but not limited to
revenue, systems, and compliance audits;
(b) Review the accounting principles and
procedures used by licensees;
(c)
Review and observe methods and procedures used by licensees to count and handle
cash, chips, tokens, gaming coupons, tickets, gaming wagers, gaming payments,
and negotiable instruments;
(d)
Examine licensees' internal control procedures;
(e) Examine accounting and financial records
of the licensee or a person controlling, controlled by, or under common control
with the licensee, within the licensee's establishment or licensee's other
establishments located in Colorado, or other locations as agreed to with the
licensee;
(f) Examine the
accounting and financial records of any licensee when conditions indicate the
need for such action or upon the request of the Director or the
Commission;
(g) Investigate each
licensee's compliance with the Colorado Limited Gaming Act of 1991, the
regulations of the Commission, and internal control minimum procedures as
directed by the Director; and
(h)
Review tax returns, tax records and tax adjustments.
(2) The Division may conduct an audit, a
review, or other examination procedures in conformity with the examination
procedures established by the Division. The Division shall prepare a report, as
appropriate for the examination conducted, at the conclusion of each
examination for submission to the Commission. (30-1608(2) temp. 5/13/92, perm.
6/30/92) Eff 11/30/2006
(3) At the conclusion of each examination,
and prior to submitting the report to the Commission, the Division shall review
the results of the examination with the licensee. If the licensee disagrees
with the Division's report, the licensee may, within 10 days of the
examination, submit written comments to the Division as to why the results of
the examination should not be submitted to the Commission for acceptance. If
the Division and the licensee cannot reach an agreement on the report, the
Commission shall consider the Division's report and the submission of the
licensee's response prior to its determination of its acceptance of the
report.
(4) When the Division finds
that the licensee is required to pay additional fees and taxes or finds that
the licensee is entitled to a refund of fees and taxes, it shall report its
findings, and the legal basis upon which the findings are made, to the Director
and to the licensee in sufficient detail to enable the Director to determine if
an assessment or refund is required. (30-1608 amended perm. 10/30/99)
Eff 11/30/2006
30-1609
Mandatory drop and count
procedure.
The time or times when drop boxes will be removed and the
contents counted for table games, card games, and slot machines must be at
times which have been previously submitted to the Division, or at other times
as the Division requires. Removal and counting of drop box contents at other
than the designated times must be conducted and reported to the Division in
accordance with internal control minimum procedures.
30-1610
Internal control.
(1) The Division shall establish internal
control minimum procedures for each group of licensees (Group A, Group B, and
Group C). The internal control minimum procedures will contain the minimum
requirements to be followed by each licensee group. The internal control
minimum procedures will be established to ensure licensed gaming operations are
conducted in such a manner as to ensure and maintain public confidence in the
security, accuracy, integrity, and propriety of licensed gaming in
Colorado.
(2) Each licensee shall
establish its own internal control procedures including accounting procedures,
reporting procedures, and personnel policies for the purpose of determining the
licensee's liability for taxes, fees, and exercising effective control over the
licensee's internal fiscal affairs. The licensee's procedures must incorporate
the minimum requirements as established by the Division, or alternative
requirements approved by the Division, and must be designed to ensure that:
(a) Assets are safeguarded and accountability
over assets is maintained;
(b)
Liabilities are properly recorded and contingent liabilities are properly
disclosed;
(c) Financial records
including revenue, expenses, assets, liability, and equity are accurate and
reliable;
(d) Transactions are
performed only in accordance with Generally Accepted Accounting Principles, the
Commission's rules and regulations, and management's stated policies which
cannot be inconsistent with such principles, rules, and regulations;
(e) Transactions are recorded adequately to
permit proper reporting of gaming revenue and of fees and taxes;
(f) Access to assets is permitted only in
accordance with management's specific authorization;
(g) Recorded accountability for assets is
compared with actual assets at reasonable intervals and appropriate action is
taken with respect to any discrepancies; and
(h) Functions, duties, and responsibilities
are appropriately segregated and performed in accordance with sound practices
by competent, qualified personnel.
(3) Each licensee must describe its
administrative, accounting, reporting, and personnel procedures in detail in a
written system of internal control. Each licensee must at all times follow and
comply with its written system of internal control. Each licensee must submit a
copy of its written system to the Division at least 30 days prior to conducting
or offering limited gaming to the public. Each written system must include:
(a) An organizational chart depicting
appropriate segregation of functions and responsibilities;
(b) A description of the duties and
responsibilities of each position shown on the organizational chart;
(c) A detailed, narrative description of the
administrative and accounting procedures designed to satisfy the requirements
of subsection (2);
(d) A written
statement signed by the licensee's chief financial officer and either the
licensee's chief executive officer or a licensed owner attesting that the
system satisfies the requirements of this section;
(e) Such other items as the Division may
require.
(4) At least 30
days prior to revising the internal control minimum procedures, the Division
shall post on the Division's website a copy of the proposed revision and notify
every licensee and every person who has filed a request therefor with the
Division of such posting.
(5) Prior
to revising the internal control minimum procedures, the Division shall
consider all written statements, arguments, or contentions submitted by
interested parties within 21 days of service of the notice provided for in
subsection (4).
(6) The Division
shall send notification that the Division has adopted procedures to all
licensees and to every person who has filed a request therefore with the
Division.
(7) Not later than 30
days after service of written notice that the minimum procedures revised
pursuant to this section are effective, each licensee whose procedures are
affected by the minimum procedures or revisions shall amend its written system,
submit a copy of the written system as amended to the Division, and comply with
the procedures and system as amended.
(8) The licensee may not implement a system
of internal controls that does not satisfy the internal control minimum
procedures published by the Division unless the Division determines that the
licensee's proposed system satisfies subsection (2), and approves the system in
writing. Within 30 days after a licensee receives notice of the Division's
approval of procedures that satisfy the requirements of subsection (2), but
that do not satisfy the Division's minimum procedures, the licensee shall
comply with the approved procedures, amend its written system accordingly, and
submit to the Division a copy of the written system as amended and a written
description of the variations signed by the licensee's chief financial officer
and either the licensee's chief executive officer or a licensed
owner.
(9) The Division may require
a licensee to engage an independent certified public accountant licensed by the
Colorado State Board of Accountancy to prepare a report on the licensee's
compliance with their written procedures on the system of internal controls.
Using the criteria established by the Division, the independent certified
public accountant shall report each material event and procedure discovered by
or brought to the accountant's attention during the course of the examination,
that the accountant believes does not satisfy the minimum procedures or
variations from the procedures that have been approved by the Division pursuant
to subsection (8) and (11). In addition to the above, the licensee shall
prepare a letter addressing each item of noncompliance noted by the independent
certified public accountant and describing the corrective measures taken. The
licensee shall provide to the Division within 120 days after the completion of
the engagement, two printed copies, or one electronic copy, of the independent
certified public accountant's written report on internal controls and any other
information provided to the licensee relating to accounting or internal
controls, such as a management letter, along with the licensee's response
letter.
(10) Before eliminating all
table games; adding a table game at a gaming establishment not previously
offering table games; adding or upgrading any computerized system that affects
the proper reporting of adjusted gross proceeds; or adding or upgrading any
computerized system for monitoring slot machines or other authorized games, or
any other computerized associated equipment the licensee must: (30-1610(10),
perm. 3/02/95)
(a) Amend its written system
of internal control to comply with the minimum procedures, or with alternatives
approved for that licensee by the Division;
(b) Submit to the Division a copy of the
written system as amended, a copy of the phase I approval letter for the
system, and a written description of the amendments signed by the licensee's
chief financial officer and either the licensee's chief executive officer or a
licensed owner; (30-1610(10)(b), perm. 3/02/95)
(c) Comply with any written requirements
imposed by the Division regarding administrative approval of computerized
systems and associated equipment (see Regulation 30-1202); and (30-1610(10)(c),
perm. 3/02/95)
(d) After paragraphs
(a) through (c) have been complied with, implement the procedures and written
system as amended.
(11)
Licensees requesting a variance to the internal control minimum procedures must
submit a written request for variance to the Division and receive written
approval from the Division prior to implementing the variance.
(12) If the Division determines at any time
that a licensee's procedures or its written system does not comply with the
requirements of this section, the Division shall so notify the licensee in
writing. Within 10 days after receiving the notification, the licensee shall
amend its procedures and written system accordingly, and shall submit a copy of
the written system as amended and a description of any other remedial measures
taken.
(13) Failure to comply with
the minimum procedures or the variations from the minimum procedures approved
pursuant to this section is an unsuitable method of operation and may result in
a fine, penalty, or revocation of license.
30-1611
Handling of cash.
Each gaming employee, owner, or licensee who receives
currency of the United States or foreign currency (other than tips or
gratuities) from a patron in the gaming area of a gaming establishment must
promptly place the currency in the locked box in the table, in an appropriate
place on the table, in the cash register, in an appropriate place in the
cashiers' cage, or in another repository approved by the Director.
30-1612
Minimum bankroll
requirements.
(1) Each licensee must
maintain, in such manner and amount as the Director may approve or require,
cash or cash equivalents in an amount sufficient to protect the licensee's
patrons against defaults in gaming debts owed by the licensee. The Director
shall distribute to licensees a formula by which licensees determine the
minimum bankroll requirements of this section. If at any time the licensee's
available cash or cash equivalents should be less than the amount required by
this section, the licensee must immediately notify the Director of this
deficiency. Failure to maintain the minimum bankroll required by this section,
or a higher bankroll as required by the Director pursuant to this section, or
failure to notify the Director of any deficiencies is an unsuitable method of
operation and may result in a fine, penalty, or revocation of
license.
(2) Any licensee who makes
payment of a gaming award to a patron by check must report to the Division any
payment which has been dishonored within 24 hours of receiving actual notice
that the check has been dishonored.
30-1613
Promotional items.
(1) A licensee who engages in promotions to
increase business and gaming at his business may not deduct payouts made
pursuant to the promotion from adjusted gross proceeds except for money or
tokens paid at face value directly to a patron as the result of a specific
wager. Licensees must receive prior approval from the Division prior to
offering and paying such additional funds as a result of a specific wager as
outlined in the internal control minimum procedures. A specific wager requires
two or more persons to stake something of value on an event, the outcome of
which is uncertain. Depending upon the outcome, the winning party receives
everything that was staked. If only one party risks something of value, there
is no wager.
(2) No deduction is
allowed in the computation of adjusted gross proceeds for any prizes, premiums,
drawings, benefits, or tickets awarded as promotions that are redeemable for
money, merchandise, or other promotional allowances. (30-1613(2) amended perm.
10/30/99)
30-1614
Free play items. [Repealed eff. 05/15/2014]
30-1615
Match play coupons.
Amended 9/14/2012
Match play coupons are allowed, but once used may not be
retained for subsequent play by the gaming patron. Match play coupons do not
apply to slot machines. When match play coupons are used at a table game, the
value of the coupon must be reflected at its face value in the total drop
amount for that table for that shift. The combination of the match play coupons
and the required wager of the patron cannot exceed the posted table limits. The
patron's matching wager must equal or exceed the dollar value of the match play
coupon. A match play coupon must have printed on it the name of the issuing
establishment, the city in which the establishment is located, its value, and
an explanation of its use. Match play coupons are a wager, and shall be paid
the specified odds payout for the wager being made. All coupons must have an
expiration date printed on them. (30-1615 amended perm. 10/30/99)
Amended 12/15/13
30-1615.5
Table games coupons.
Coupons used to wager on an approved table game are allowed.
The coupon must have printed on it the name of the issuing establishment, the
city in which the establishment is located, its value, and an expiration date
or, alternatively, the dates the coupon is valid for redemption. All coupons
redeemed at a table game shall be immediately dropped in the table drop box and
included at its face value in the total drop for that table for that
shift.
30-1616
Procedure for reporting and paying gaming taxes and fees.
(1) Taxes and fees required by Article
30, Title
44. C.R.S., and the rules and
regulations thereunder, must be received by the Division not later than the due
date specified by law, except that the taxes and fees shall be deemed to be
timely filed if the licensee demonstrates to the satisfaction of the Division
that they were deposited in a United States post office or mailbox, with first
class postage prepaid, and properly addressed to the Division, within the time
allowed for payment of the taxes or fees. All gaming taxes and fees are the
responsibility of, and must be paid by, the licensed retailer. All required
reports relating to paying gaming taxes and fees must be received by the
Division not later than the due date specified by law. Reports shall be deemed
timely filed if the licensee demonstrates to the satisfaction of the Division
that they were filed and transmitted electronically, or in another manner
approved by the Division, within the time allowed for filing such
reports.
(2) All monthly gaming tax
returns filed with the Department must reflect all adjusted gross proceeds
received by the licensee for the period of the return.
30-1617
Tax protest. Effective
6/30/2008
(1) A licensee may
file a tax protest to dispute the payment or collection of gaming taxes. A
licensee filing a tax protest must serve a copy of the protest on the Executive
Director of the Department of Revenue and send a copy to the Division. Articles
20,
21 and
26 of Title
39 of the Colorado Revised Statutes
outlines the process for filing a protest.
30-1618
Claims for refunds.
Effective 6/30/2008
(1) To file a claim for a refund, a licensee
must properly complete the claim for refund form provided by the Division and
file such form with the Executive Director of the Department of Revenue and
send a copy to the Division. (30-1618(1) temp. 10/28/93. perm.
1/30/94)
(2) Article
21 of Title
39 of the Colorado Revised Statutes
outlines the process for filing a claim for a refund.
30-1619
Standard financial
statements.
(1) Each licensee, in such
manner and using such forms as required by the Division or the Department of
Revenue, must prepare a financial statement covering all financial activities
of the licensee's establishment for each calendar year and provide other data
relevant to the consideration of the gaming tax. If the licensee or a person
controlling, controlled by, or under common control with the licensee owns or
operates room, food, or beverage facilities at the establishment, the financial
statement must cover those operations as well as gaming operations, in which
case the gaming operations must be presented separately. Licensees must submit
the financial statements to the Division not later than March 15 following the
end of each calendar year. Each financial statement must be signed by the
licensee who thereby attests to the completeness and accuracy of the statement.
In the event of a license termination, change in the business entity, or a
change in control of ownership, the licensee or former licensee must, not later
than 75 days after the event, submit to the Division a financial statement
covering the period from the last statement to the date of termination or
change. (30-1619(1) temp. 5/13/93. perm. 6/30/93) (30-1619(1) 1/30/98) For good
cause shown, the Director may waive this requirement.
(2) Licensees must submit financial
statements on forms provided by the Division.
30-1620
Audited financial
statements.
(1) All licensees with
annual adjusted gross proceeds during their business year of $10 million or
more are required to prepare financial statements covering all financial
activities of the licensee's establishment for that business year and to engage
an independent certified public accountant, licensed by the Colorado State
Board of Accountancy, to audit the statements in accordance with Generally
Accepted Auditing Standards. The licensee must notify the Division within 10
days of engaging an independent certified public accountant to perform the
audit. For good cause shown, the Director may waive this requirement.
(30-1620(1) amended perm. 10/30/99) Amended 12/15/13
(2) The Division may require any other
licensee to prepare financial statements covering all financial activities of
the licensee's establishment for a business year and to engage an independent
certified public accountant, licensed by the Colorado State Board of
Accountancy, to audit the statements or to review the statements in accordance
with standards generally followed by independent certified public accountants.
(30-1620(2) temp. 5/13/92, perm. 6/30/92) (30-1620(2) amended perm. 10/30/99)
Amended 12/15/13
(3) Statements required must be presented on
a comparative basis after the first period of operation. Consolidated financial
statements may be filed by commonly owned or operated establishments, but the
consolidated statements must include consolidating financial information or
consolidating schedules presenting separate financial statements for each
establishment. The independent certified public accountant must issue a report
on the financial statements that express an opinion, whether it is unqualified,
qualified, adverse, or a disclaimer of opinion. The independent certified
public accountant must also include any necessary explanatory or emphasis
paragraph to the standard report, as may be required by standards generally
followed by independent certified public accountants. The independent certified
public accountant must include in the report on the consolidated financial
statements an appropriate opinion on the consolidating financial information,
if any. For good cause shown, the Director may waive this requirement.
(30-1620(3) temp. 5/13/92, perm. 6/30/92) Amended
12/15/13
(4) Each licensee
required to submit audited or reviewed financial statements, must submit to the
Division two printed copies, or one electronic copy, of its audited or reviewed
statements not later than 120 days after the last day of the licensee's
business year. In the event of a license termination, change in business
entity, or a change in control of ownership, the licensee or former licensee
must, not later than 120 days after the event, submit to the Division two
printed copies, or one electronic copy, of audited or reviewed statements
covering the period since the previous statement. If a license termination,
change in business entity, or a change in control of ownership occurs within
120 days after the end of the business year for which a statement has not been
submitted, the licensee may submit statements covering both the business year
and the final period of business. For good cause shown, the Director may extend
the 120-day deadline.
(5) If a
licensee, who is required to submit audited or reviewed financial statements,
changes its business year, the licensee must prepare and submit to the Division
audited or reviewed financial statements covering the "intermediate" period
from the end of the previous business year to the beginning of the new business
year not later than 120 days after the end of the intermediate period or
incorporate the financial results of the intermediate period in the statements
for the new business year. The Director may waive this requirement or grant an
extension of the deadline for good cause shown. (30-1620(5) amended perm.
10/30/99)
(6) Any licensee who
engages an independent accountant to perform a financial statement audit not
required by this regulation must provide two printed copies, or one electronic
copy, of the audited financial statements to the Division within 120 days after
the last day of the licensee's business year under audit. (30-1620(6) added
perm. 10/30/99) Amended 12/15/13
(7) The Division may request additional
information and documents from either the licensee or the licensee's
independent accountant, through the licensee, regarding the financial
statements or the services performed by the accountant. Failure to submit the
requested information or documents is an unsuitable method of operation and
subject to a fine, penalty, or revocation of license.
30-1621
Altering or falsifying gaming
documents.
Any person who alters or falsifies information recorded on
gaming documents, at the time of the transaction or after the fact, for the
purpose of concealment, deception, or circumvention of internal control minimum
procedures, or for any other purpose, may be subject to a fine, penalty or
revocation of license by the Commission.
BASIS AND PURPOSE FOR RULE 17
The purpose of Rule 17 is to establish drop and count
procedures and statistical record-keeping procedures related to slot machine
gaming in compliance with section
44-30-302(1) (q).
The statutory basis for Rule 17 is found in sections
44-30-201, C.R.S.,
44-30-203, C.R.S., and
44-30-302, C.R.S.
