The Program requires that the compliance officer be knowledgeable of gaming control and familiar with the requirements of the Nevada Gaming Control Act and the regulations. To this extent, I am familiar with many of the procedural requirements expected of the position. For those unanswered questions, I have assistance from our local Nevada gaming counsel. The compliance officer is the primary resource for the Committee and is responsible for coordinating its activities and ensuring that it is provided with all necessary documentation and information. The compliance officer takes steps to ensure that company executives and other appropriate personnel are adequately informed of the requirements of the Program and are notified of significant events.
Gaming is a highly regulated industry.
It is imperative that management and key staff at our casinos possess a comprehensive knowledge of all regulatory compliance requirements. The knowledge and implementation of regulatory compliance requirements that govern the industry and each individual state's laws are of vital importance to our company. The lack of knowledge or failure to adhere to key regulatory rules and regulations results in the issuance of warnings, incident reports, and violations that carry monetary fines. In an effort to improve, maintain and monitor our company's overall regulatory compliance, each casino has in place a plan to ensure orientation, training, and continuous review of internal controls and regulatory matters. As the Committee's compliance officer, along with the compliance officers at our casinos, I ensure that each compliance plan is in place, activated, and implemented.