New Mexico Administrative Code › Title 15 - GAMBLING AND LIQUOR CONTROL › Chapter 1 - GAMES AND GAMING GENERAL PROVISIONS › Part 24 - PROGRESSIVE GAMES AND GAMING DEVICES › Section 15.1.24.19 - GENERAL REQUIREMENTS; JACKPOT VERIFICATION; ACCOUNTING; RECORDKEEPING

Current through Register Vol. 35, No. 13, July 16, 2024
A. Jackpot
				verification procedures shall include the following: When a jackpot is won, the
				person operating or controlling, the progressive system shall have the
				opportunity to inspect the machine, gaming media, the error events received by
				the progressive central system, and any other data which could reasonably be
				used to ascertain the validity of the jackpot. The progressive central system
				shall produce reports that will clearly demonstrate the method of arriving at
				the payoff amount. This shall include the coins contributed beginning at the
				polling cycle immediately following the previous jackpot and shall include all
				coins contributed up to, and including, the polling cycle, which includes the
				jackpot signal. Coins contributed to the system after the jackpot occurs in
				real-time, but during the same polling cycle shall be deemed to have been
				contributed to the progressive amount prior to the jackpot. Coins contributed
				to the system before the jackpot message is received shall be deemed to have
				been contributed to the progressive amount prior to the current jackpot. Coins
				contributed to the system subsequent to the jackpot message being received
				shall be deemed to have been contributed to the progressive amount of the next
				jackpot. The jackpot may be paid in installments as long as each machine
				clearly displays the fact that the jackpot will be paid in installments. In
				addition, the number of installments and time between installments must be
				clearly displayed on the face of the machine in a non-misleading manner. Two
				jackpots that occur in the same polling cycle shall be deemed to have occurred
				simultaneously; and therefore, each "winner" shall receive the full amount
				shown on the meter.
B. Any person
				authorized to control or operate a progressive system, shall supply reports to
				the board or its designee(s) which support and verify the economic activity on
				the system. Any person authorized to control or operate a multi-link system,
				shall supply, as requested, reports and information to the board or its
				designee(s) indicating the amount of, and basis for, the current jackpot
				amount. Such reports may include an "aggregate report" and a "detail report".
				The "aggregate report" may show only the balancing of the system with regard to
				system-wide totals. The "detail report" shall be in such form as to indicate
				for each machine, summarized by location, the coin-in and coin-out totals as
				such terms are commonly understood in the industry. In addition, upon the
				invoicing of any licensee participating in a multi-link system, each such
				licensee shall be given a printout of each machine owned by the licensee, the
				coins contributed by each machine to the jackpot for the period for which an
				invoice is remitted, and any other information required by the board to confirm
				the validity of the licensee's contributions to the jackpot amount.
C. In calculating net win for purposes of
				calculating gaming tax, a licensee shall deduct its contribution to any
				progressive jackpot pool during the preceding month. This amount shall be
				listed on the detailed accounting records provided by the entity authorized to
				control or operate the progressive system.
D. The entity authorized to operate or
				control a progressive system shall maintain a copy of all lease and contractual
				agreements with licensees and supply a copy to the board upon
				request.
E. The entity authorized
				to control or operate a progressive system, shall hold a valid gaming operator
				license issued by the board and shall obtain approval from the board as to the
				methods of funding the progressive prize pool and calculating and receiving
				payments from participating retailers for operating and managing the multi-link
				system.
F. A gaming operator
				licensee shall transfer all contributions to the progressive jackpot fund no
				later than the 28th day of the following month to a non-interest bearing bank
				account or to the administrator of the progressive jackpot fund.
G. The progressive system prize fund (the
				amount of money contributed by the participating licensees) shall be audited,
				in accordance with generally accepted auditing standards, on the multi-link
				system operator's year-end basis, by an independent certified public accountant
				approved by the board. Two copies of this report shall be submitted to the
				board within 90 days after the end of the multi-link system operator's business
				year-end.