Louisiana Administrative Code
Title 42 - LOUISIANA GAMING
Part III - Gaming Control Board
Chapter 27 - Accounting Regulations
Section III-2735 - Net Gaming Proceeds Computations

Universal Citation: LA Admin Code III-2735

Current through Register Vol. 50, No. 9, September 20, 2024

A. In this Section and §2736, the term net gaming proceeds shall have the same meaning as:

1. for riverboat licensees, net gaming proceeds;

2. for casino operator or casino manager, gross gaming revenue; and

3. for a licensed eligible facility, net slot machine proceeds.

B. For each table game, net gaming proceeds shall equal the soft count drop, plus or minus the change in table inventory, plus or minus the chip float adjustment. The change in table inventory shall be equal to the beginning table inventory, plus chip fills to the table, less credits from the table, less ending table inventory. The first step in the calculation of the chip float adjustment shall be the daily chip float calculation, which shall be the total chips received to date, (the initial chips received from vendors plus all subsequent shipments of chips received) less the total day's chip count (the sum of chips in the vault, cage drawers, tables, change lockers and all other locations). The daily ending inventory chip count shall at no time exceed the total amount of chips in the total casino chip accountability. If at any time the calculated daily chip float is less than zero, the licensee or casino operator shall adjust to reflect a zero current day chip float. Afterwards, the chip float adjustment shall be calculated daily by subtracting the previous day's chip float from the current day's chip float.

C. For each slot machine, net gaming proceeds shall equal drops less fills to the machine, jackpot payouts, redeemed tickets, plus or minus the token float adjustment. The first step in the calculation of the token float adjustment shall be the daily token float calculation which shall be the total tokens received to date (the initial tokens received from vendors plus all subsequent shipments of tokens received) less the total day's token count (tokens in the hard count room plus tokens in the vault, cage drawers, change lockers, tokens in other locations and initial tokens in hoppers). The daily ending inventory token count shall at no time exceed the total amount of tokens in the total casino token accountability. Foreign tokens and slugs do not constitute a part of token inventory. If at any time the calculated daily token float is less than zero, the licensee or casino operator shall adjust to reflect a zero current day token float. The initial hopper load is not a fill and does not affect net gaming proceeds.

D. For each card game and any other game in which the licensee or casino operator is not a party to a wager, net gaming proceeds shall equal all money received by the licensee or casino operator as compensation for conducting the game, including time buy-ins. A time buy-in is a fixed amount of money charged for the right to participate in certain games for a period of time.

E. If in any day the amount of net gaming proceeds is less than zero, the licensee or casino operator may deduct the excess in the succeeding days, until the loss is fully offset against net gaming proceeds.

F. Slot machine meter readings from the drop process shall not be utilized to calculate net gaming proceeds, unless otherwise approved by the division.

G. All gaming tournaments conducted by or on behalf of the licensee or casino operator are subject to the following requirements:

1. all entry fees, buy-ins, re-buys, and similar payments, paid by or on behalf of tournament participants, shall be included in net gaming proceeds. No cost incurred by the licensee or casino operator associated with holding the tournament shall be deducted from the tournament revenues before calculating the net gaming proceeds. All cash prizes awarded in the tournament may be deducted as payouts up to the amount received from or on behalf of tournament participants. No other deductions shall be made for purposes of calculating net gaming proceeds. If cash prizes awarded exceed revenues received from or on behalf of tournament participants, the licensee or casino operator shall not deduct the excess from net gaming proceeds; and

2. all amounts paid directly or indirectly, by or on behalf of a person playing in a tournament and cash prizes shall be reported on gaming revenue summaries in a manner approved by the division. Copies of source documents such as transfer slips of the participants' entry fees and transfer slips of participants' winnings paid out must accompany the gaming revenue summary on which the entry fee or payout is reported.

AUTHORITY NOTE: Promulgated in accordance with R.S. 27:15 and 24.

Disclaimer: These regulations may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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