Casinos
Audit, compliance, and tax services for commercial and tribal casinos that answer to gaming regulators, lenders, and owners.
Overview
Casinos handle large volumes of cash, chips, and tickets every day, and regulators expect every dollar to be counted, controlled, and reported. State gaming commissions typically require audited financial statements and compliance reporting, and tribal gaming operations answer to tribal gaming regulatory authorities and the National Indian Gaming Commission. Pease Bell provides casino audits and related services that address gaming revenue, cage and count controls, and the reports regulators rely on.
We also help casinos with the compliance work that sits next to the audit. That includes reviewing controls against minimum internal control standards, supporting Bank Secrecy Act and Title 31 compliance programs at the accounting level, and planning for income and gaming taxes. We work with single properties and multi-property operators, and with owners and management teams preparing for refinancing, expansion, or a change in ownership.
How We Help Casinos
Casino Financial Audits
We audit casino financial statements, with attention to gaming revenue, cage and vault balances, progressive jackpot liabilities, player loyalty programs, and related-party arrangements with owners.
Gaming Commission Reporting
We help casinos prepare and support the financial and compliance reports required by state gaming commissions, including procedures some regulators require independent accountants to perform.
MICS Control Reviews
We evaluate cage, count, slot, table games, and accounting procedures against applicable minimum internal control standards and report gaps management can address before regulators find them.
Title 31 and BSA Support
We help casinos test the accounting and recordkeeping elements of Bank Secrecy Act compliance programs, such as cash transaction tracking and the reliability of reporting systems.
Tribal Gaming Services
We work with tribal gaming operations on audits and compliance reporting that address tribal gaming ordinances, tribal gaming regulatory authority requirements, and applicable NIGC regulations.
Casino Tax Services
We help casinos and their owners with gaming tax filings, income tax compliance, and tax planning for property expansions, renovations, ownership changes, and multi-state operations.
Casino Challenges We Help You Address
- ✓Cage, count, and drop procedures that drift from approved internal controls
- ✓Accounting for loyalty points, free play, and progressive jackpots
- ✓Regulator reporting deadlines that compete with the year-end close
- ✓Keeping Title 31 recordkeeping accurate across gaming and cage systems
- ✓Ownership and financing changes that trigger regulatory financial disclosures
Frequently Asked Questions
What are minimum internal control standards for casinos?
Minimum internal control standards, often called MICS, are regulator-issued rules describing the controls a gaming operation must maintain over areas such as the cage, count room, slots, table games, and accounting. State gaming regulators issue their own standards, and the National Indian Gaming Commission has standards for tribal gaming. Casinos are expected to document and follow procedures that meet the applicable MICS.
Do Bank Secrecy Act rules apply to casinos?
Yes. Many casinos and card clubs are treated as financial institutions under the Bank Secrecy Act, with regulations found in Title 31 of the Code of Federal Regulations. Covered casinos generally must maintain an anti-money laundering program, report certain currency transactions and suspicious activity, and keep required records. Applicability and specific thresholds should be confirmed with legal and compliance advisors.
How is tribal casino auditing different from commercial casino auditing?
Tribal gaming operations are regulated under the Indian Gaming Regulatory Act, tribal gaming ordinances, and National Indian Gaming Commission rules rather than state commission rules alone, although tribal-state compacts may add requirements. Annual independent audits of gaming operations are generally required, and the audit must address the reporting expectations of the tribe, its regulatory authority, and the NIGC.
What does a casino audit focus on?
A casino audit focuses on the areas where cash and liabilities move fastest. That usually includes gaming revenue and drop, cage and vault cash, progressive jackpot and loyalty program liabilities, promotional allowances, gaming taxes payable, and debt covenants. Auditors also consider the internal controls over these areas because regulators and auditors both rely on them.
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Tell us about your organization and a member of our team will be in touch.