NIGC 2022 Fee Rate and Fingerprint Fees
The National Indian Gaming Commission has adopted the following annual fees for FY22: Tier 1: 0.00% Tier 2: 0.08% Self-Regulation Class II Revenues: 0.04% The fee rates are effective November 1, 2021, and will remain in effect until new rates are adopted. These rates shall apply to all assessable gross revenues from each gaming operation under the jurisdiction of the […]
GASB Proposes Application Guidance on CARES Act and Coronavirus Diseases Issues
As part of its continuing efforts to assist state and local governments during the COVID-19 pandemic, GASB released a proposed staff Technical Bulletin containing application guidance related to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) of 2020 and certain outflows incurred in response to the coronavirus. The Technical Bulletin is being proposed to address questions raised with […]
NIGC Bulletin 2020-1: IGRA and Sports Book Operations
The NIGC released Bulletin 2020-1 on January 29, 2020, the purpose of which is to provide guidance for Tribes considering the operation of sports books on Indian lands. Sports betting is defined as Class III gaming so if a Tribe’s Compact doesn’t allow for Class III gaming or sports betting, the Tribe and respective state must adopt or amend the […]
AGA Issues Updated Best Practices for Anti-Money Laundering Compliance
The American Gaming Association (AGA) has updated its Best Practices for Anti-Money Laundering Compliance for Casinos. In the updated document, the AGA discusses Know Your Customer procedures, as well as independent review procedures that Casinos should expect from their independent auditor. The document also discusses internal compliance officer expectations related to reviews of reports at regular intervals, which should be […]
NIGC 2019 Fee Rate and Fingerprint Fees
The National Indian Gaming Commission’s annual fee rate remains the same as last year, maintaining the lowest rates of the last nine years. Tier 1: 0.00% Tier 2: 0.062% Self-Regulation Class II Revenues: 0.031% The fee rates are effective November 1, 2019, and will remain in effect until new rates are adopted. These rates shall apply to all assessable gross […]
2018 Indian Gaming Revenues of $33.7 Billion Show a 4.1% Increase
On September 12, 2019, the NIGC released the Fiscal Year 2018 Gross Gaming Revenue (GGR) numbers, which total $33.7 billion. This is an overall increase of 4.1% over FY 2017. This is the highest GGR in Indian Gaming history with all of the NIGC’s administrative regions experiencing positive growth. NIGC Vice Chair Kathryn Isom-Clause said, “The GGR calculation process is […]
NIGC MICS Key Control Standards
Effective January 22, 2019, the National Indian Gaming Commission (NIGC) has amended its Minimum Internal Control Standards (MICS) for Class II gaming to correct an erroneous deletion of the key control standards and to make other minor edits and additions for clarity. The Final Rule includes a Review of Public Comments and Regulatory Matters, including a list of the amended […]
NIGC 2018 Fee Rate and Fingerprint Fees
The National Indian Gaming Commission has adopted its 2018 annual fee rates, which remain the same as the 2017 fee rates. These rates apply to all assessable gross revenues from each gaming operation under the jurisdiction of the NIGC. If a Tribe has a certificate of self-regulation under 25 CFR part 518, the annual fee rate on Class II revenues will […]
NIGC Bulletin 2018-3: Guidance on the Class III Minimum Internal Control Standards
The NIGC released Bulletin No. 2018-3 today, the purpose of which is to provide an updated, non-binding Minimum Internal Control Standards (MICS) for Class III Gaming. In 2006, the D.C. Circuit Court of Appeals ruled that the NIGC lacked authority to enforce or promulgate Class III MICS. Since the ruling the Class III MICS have not been substantively revised, making […]
2017 Indian Gaming Revenues Increase 3.9% to $32.4 Billion
The 2017 Indian Gaming revenues have increased 3.9% from 2016, totaling $32.4 billion in revenues. The FY 2017 revenues were calculated from the individually audited financial statements of 494 gaming operations, owned by 242 federally recognized Tribes. The gross gaming revenues for an operation is the amount wagered minus winnings returned to players. 2018 marks the 30th year of Indian […]