Accounting records

(1) A Casino Licensee shall maintain complete, accurate and legible records of all transactions relating to the revenues and costs of each casino under his management. (2) General accounting records shall be maintained on a double entry system of accounting with transactions recorded on the accruals basis, and detailed, supporting, subsidiary records, sufficient to meet the requirements of subregulation (4). (3) The forms of accounts adopted shall be of a standard form which the Board considers would ensure consistency, comparability, and effective disclosure of financial information. If a standard form of accounts is utilised– (a) it shall be the minimum level of detail to be maintained by the Licensee; (b) the Licensee shall not use anything else other than that standard form of accounts save for the purpose of expanding the level of detail. (4) The detailed, supporting and subsidiary records shall include, but not necessarily be limited to– (a) records of all patrons’ cheques initially accepted by the Licensee as “uncollected” and ultimately written off as “uncollectable”; (b) statistical game records to reflect drop and win amounts for each table, for each game, and for each shift; (c) records supporting the accumulation of the costs and number of persons by category of Gaming Control 131 service, for complimentary services. Such records shall include, on a daily basis, the name of any person provided with complimentary services, the category of services provided, distinguishing (at a minimum) between rooms, foods, beverages, travel and other services, the retail value of the aggregate cost of each category of service provided to such person, or cost if the Licensee pays a third party for providing the services, and the name of the person authorizing the receipt of such service. Excepted from this requirement are the individual names of persons authorizing or receiving complimentary theatre tickets or beverages served in bars and the casino; (d) records which identify the handle, pay out, win amounts and percentages, theoretical win amounts and percentages, and differences between theoretical and actual win amounts and percentages, for each slot machine on a week-to-date basis; (e) records of investments in property and equipment used directly or indirectly in connection with the operation of the casino; (f) records of all loans and other amounts payable by the casino; (g) records which identify the purchase, receipt and destruction of gaming chips, plaques and (h) such other records as are provided for in the System of Accounting and Internal Controls submitted to the Board. 132 Gaming Control (5) All accounting records shall be located on the premises of the establishment unless a specific exemption is allowed to the Licensee by the Board. (6) All accounting records shall be kept for a period not less than six (6) years from their respective dates. (7) Such records may be stored, immediately after preparation of the documents, on microfilm or microfiche or other suitable method approved by the Board. (8) All original accounting records and documents after being recorded on microfilm, microfiche or other suitable method may be stored off the premises of the establishment in a secure location approved by the Board. (9) To be approved by the Board, a microfilm or microfiche system must meet the following standards– (a) a system of inspection and quality control sufficient to ensure that microfilm or microfiche when displayed on a reader (viewer) or reproduced on paper exhibits a high degree of legibility and readability; (b) a reader-printer available, upon request, to agents of the Board with a facility for reading, and reproduction of any record or records being maintained on microfilm or microfiche; (c) a detailed index kept by the Casino Licensee of all microfilmed or microfiche data maintained and arranged in such a manner as to permit the immediate location of any particular record; (d) the system will provide for appropriate processing, preservation and maintenance of Gaming Control 133 microfilmed or microfiche records and for making them readily available. (10) All original accounting records and documents stored on a microfilm or microfiche system shall be made readily accessible to agents of the Board, and notwithstanding the lapse of six (6) years from their date shall not be destroyed until the Board approves of their destruction. (11) The Casino Licensee may petition the Board for approval to destroy such records or documents after two years from their recording on microfilm, microfiche or by some other suitable method.