16- 633 C.M.R. ch. 4, § 2

Current through 2024-51, December 18, 2024

Section 633-4-2 - Accounting Records

1. The slot machine operator licensee or casino operator licensee shall maintain complete, accurate, legible, and permanent records of all transactions pertaining to its revenues and expenses, assets, liabilities, and equity in conformance with generally accepted accounting principles. The Board may direct the slot machine operator licensee or casino operator licensee to alter the manner in which the records are maintained if the licensee's records are not in accordance with generally accepted accounting principles or if the records are not in sufficient detail.

2. The accounting records shall be maintained using a double entry system of accounting with transactions recorded in accordance with generally accepted accounting principles and supported by detailed subsidiary records.

3. The detailed subsidiary records shall include, at a minimum, all of the following:

A. Detailed general ledger accounts identifying all revenue, expenses, assets, liabilities, and equity for the slot machine operator licensee or casino operator licensee;

B. A record of all investments, advances, loans, and accounts receivable balances due the establishment;

C. A record of all loans and other accounts payable by the slot machine operator licensee or casino operator licensee;

D. A record of all accounts receivable written off as uncollectible by the slot machine operator licensee or casino operator licensee;

E. Journal entries prepared by the slot machine operator licensee or casino operator licensee;

F. Tax work papers used in preparation of any state or federal tax return;

G. Records that identify all of the following on a per day basis or other accounting period approved by the Board

1. The number of coin equivalents if a bill acceptor is being used or vouchers are used;

2. The number of credits wagered;

3. The number of credits paid out by printed tickets;

4. The total number of credits won;

5. The number of times the logic door was accessed; and

6. The number of times the cash door was accessed;

7. The calculated payout percentage of each slot machine game on the basis of credits won divided by credits played;

8. The master game report for each table;

9. The number of chips missing and value from each table;

10. The Drop for each table;

11. The Win for each table.

H. Records required to fully comply with all applicable federal financial record-keeping requirements enumerated in 31 Code of Federal Regulations, part 103;

I. Records required by the slot machine operator licensee's or casino operator licensee's internal control system;

J. Work papers supporting the daily reconciliation of cash accountability; and

K. Other records that the Board requires to be maintained.

16- 633 C.M.R. ch. 4, § 2