Gaming
Audit, tax, and advisory services for casinos and online gaming and sports betting operators working under close regulatory oversight.
Overview
Gaming is one of the most heavily regulated industries in the country. Land-based casinos, tribal gaming operations, and online casino and sports betting operators answer to gaming regulators that expect audited financials, documented internal controls, accurate gaming tax filings, and timely compliance reporting. Many also carry Bank Secrecy Act obligations because of the volume of cash and funds moving through the business. Pease Bell helps gaming operators meet those expectations with audit, tax, and advisory services under one roof.
The financial side of gaming has its own vocabulary: drop, hold, win, promotional play, wagering liabilities, and gaming taxes that vary by jurisdiction and product. We work with operators, owners, and management teams to keep reporting accurate across properties and states, test whether controls are designed and working as regulators expect, and plan for the tax effects of licensing, expansion, and ownership changes. Our goal is to help gaming businesses stay licensed, compliant, and well informed.
How We Help Gaming Operators
Financial Statement Audits
We audit financial statements for gaming operators and their parent entities, addressing gaming revenue, wagering and jackpot liabilities, and the reporting that regulators and lenders require.
Regulatory Compliance Reporting
We help operators prepare and support the financial reports and compliance filings required by state gaming commissions, tribal gaming authorities, and other regulators, and reconcile them to the books.
Internal Control Reviews
We evaluate the design and operation of gaming internal controls, including cage, count, and accounting procedures, against the minimum internal control standards that apply in each jurisdiction.
Gaming Tax Compliance
We help prepare and review gaming tax returns and income tax filings, including multi-jurisdiction compliance for operators active in several states or offering several products.
SOC and IT Controls
We help online and technology-driven operators assess IT general controls and prepare for SOC 1 and SOC 2 examinations that partners, regulators, and commercial customers request.
Transaction and Licensing Support
We support acquisitions, financings, and licensing applications with financial due diligence, quality of earnings analysis, and clear documentation of ownership and financial condition for regulators.
Explore Gaming
Casinos
Audit, compliance, and tax services for commercial and tribal casinos that answer to gaming regulators, lenders, and owners.
Learn more →Online Gaming
Audit, tax, and controls services for online casino and sports betting operators and the platforms that power them, across multiple state licenses.
Learn more →Gaming Industry Challenges We Help You Address
- ✓Differing financial reporting requirements across gaming jurisdictions
- ✓Internal controls that must satisfy regulators as well as auditors
- ✓Gaming tax calculations that vary by state, product, and promotional treatment
- ✓Bank Secrecy Act and anti-money laundering compliance expectations
- ✓Financial disclosure demands tied to licensing and ownership changes
Frequently Asked Questions
Why do gaming companies need specialized accountants?
Gaming operators face accounting and reporting requirements that most businesses do not, including regulator-mandated audits, minimum internal control standards, gaming taxes calculated on gaming revenue, and Bank Secrecy Act obligations. Accountants familiar with gaming understand how revenue, promotional play, and wagering liabilities work and what regulators expect, which helps reports and filings hold up to review.
Do casinos and gaming operators need audited financial statements?
In most jurisdictions, yes. Gaming regulators commonly require licensed operators to submit annual audited financial statements, and lenders, investors, and tribal gaming authorities often require them as well. Specific requirements, such as deadlines and additional compliance reports, depend on the jurisdiction and the type of license held.
What is gross gaming revenue?
Gross gaming revenue generally refers to the amount wagered minus winnings paid to players, sometimes called win. It is the base for many state gaming taxes. How each jurisdiction defines it, including whether promotional credits or free play can be deducted, varies, so operators in more than one state need to calculate it according to each set of rules.
Does Pease Bell work with online gaming and sports betting operators?
Yes. We work with online casino and sports betting operators and platform providers on audits, gaming tax compliance, revenue recognition, and IT and SOC readiness. Online operators often face multi-state licensing requirements and technology controls that differ from land-based casinos, and we address both sides of the industry.
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