Indiana Administrative Code
Title 68 - INDIANA GAMING COMMISSION
Article 15 - ACCOUNTING RECORDS AND PROCEDURES
Rule 3 - Cash Reserve Requirements and Distributions
Section 3-3 - Cash reserve requirements

Universal Citation: 68 IN Admin Code 3-3

Current through September 18, 2024

Authority: IC 4-33-4; IC 4-35-4

Affected: IC 4-33; IC 4-35

Sec. 3.

(a) Casino licensees shall maintain, in cash or cash equivalents, an amount sufficient to protect patrons against defaults in gaming debts owed by the casino licensee. The cash reserve requirement may be maintained in any combination of the following:

(1) Cash on hand in the casino licensee's cage that comprises the cage accountability.

(2) Cash in a bank account maintained in the state of Indiana.

(3) Cash equivalents that are not otherwise committed or obligated.

(b) Casino licensees shall maintain cash or cash equivalents in one (1) of the following amounts to ensure payment of a winning patron wager:

(1) For the first full or partial quarter of operation, based on a calendar year, one hundred percent (100%) of the casino licensee's or casino license applicant's projected payout for a three (3) day period.

(2) For the next quarter, based on a calendar year, one hundred percent (100%) of the casino licensee's actual payout for a three (3) day period. The actual payout shall be computed by calculating the daily average payout for the previous quarter of operation and multiplying the daily average payout by three (3).

(c) The cash reserve requirement that a casino licensee must maintain shall be rounded off to the nearest one thousand dollars ($1,000). The casino licensee shall not increase or decrease the cash reserve requirement each quarter unless the adjustment would increase or decrease the cash reserve requirement by at least fifty thousand dollars ($50,000). The casino licensee shall increase or decrease the cash reserve requirement by the twentieth day of the month following the end of the quarter.

(d) The cash or cash equivalents must be held in the name of the casino licensee.

(e) If the casino licensee's cash and cash equivalents fall below the amount outlined in subsection (b), the casino licensee shall immediately notify the executive director. If the cash reserve requirement does not comply with this rule, the executive director shall order the casino licensee to establish a cash reserve requirement that is in compliance within a period not to exceed twenty (20) days.

(f) The casino licensee shall provide the executive director with a statement of the cash reserve account by the twentieth day of a month or within ten (10) days of the receipt of the statement by the casino licensee.

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