Arkansas Administrative Code › Agency 006 - Department of Finance and Administration › Division 06 - Racing Commission › Rule 006.06.19-006 - CGR 6 Accounting Regulations

Current through Register Vol. 49, No. 6, June, 2024
6.010
Definitions.
As used in this regulation:
1. Affiliate" business companies,
			 organizations, or individuals are Affiliates of each other if, directly or
			 indirectly, either one has the power to control the other, or a third party
			 controls or has the power to control both.
2. Unless otherwise specified, "Commission"
			 means the Arkansas Racing Commission or the Commission's designee.
3. "Business year" means the annual period
			 used by a licensee for internal accounting purposes.
4. "CGS" means the Casino Gaming Section,
			 also referred to as the Gaming Audit Division, of the Department of Finance and
			 Administration.
5. "DF&A" means
			 the Department of Finance and Administration.
6. "Electronic transfer" means the
			 transmission of money, or data via an electronic terminal, a telephone, a
			 magnetic tape or a computer and a modem to the Commission.
7. "Fiscal year" means a period beginning on
			 July 1st and ending June 30th of the following year.
8. "Gaming device" means any mechanical,
			 electromechanical or electronic device or machine for money, property, checks,
			 credit or any representative of value, including, without limiting the
			 generality of the foregoing, faro, monte, roulette, keno, bingo, fan-tan,
			 twenty-one, blackjack, seven-and-a-half, big injun, klondike, craps, poker,
			 chuck-a-luck, Chinese chuck-a-luck (dai shu), wheel of fortune, chemin de fer,
			 baccarat, pai gow, beat the banker, panguingui, slot machine, any banking or
			 percentage game or any other game or device approved by the
			 Commission.
9. "Gross wagering
			 revenue" means the total value of currency, coupons, gaming tickets, and
			 electronic credits invested by a patron in casino gaming. However, "gross
			 wagering revenues" shall not include promotional coupons or promotional
			 electronic credits provided by a Licensee to a patron at no cost to the patron,
			 which are used by the patron to make a wager.
10. "Net casino gaming receipts" is defined
			 as gross receipts from casino gaming less amounts paid out or reserved as
			 winnings to casino patrons. However, gross receipts from casino gaming shall
			 not include promotional coupons or promotional electronic credits provided by a
			 Licensee to a patron at no cost to the patron, which are used by the patron to
			 make a wager.
11. "Net casino
			 gaming receipts tax" is defined as a tax on net casino gaming
			 receipts.
12. "Operator" means any
			 person or entity holding a license to operate an inter-casino linked system in
			 Arkansas, or a person or entity holding a license to operate a Casino gaming
			 operation that operates an inter-casino linked system for affiliates.
13. "Statements on auditing standards" means
			 the auditing standards and procedures published by the American Institute of
			 Certified Public Accountants.
14.
			 "Statements on standards for accounting and review services" means the
			 standards and procedures published by the American Institute of Certified
			 Public Accountants.
15.
			 "Statistical drop" means the dollar amount of cash wagered by a patron that is
			 placed in the drop box plus the dollar amount of chips issued at a table to a
			 patron for currency, credit instruments or rim credit.
16. "Statistical win" means the dollar amount
			 won by the licensee through table play.