Casinos
Our team of accounting professionals has skills and knowledge specific to casinos and the gaming industry. We serve our clients with comprehensive services as outlined below:
Outsourced Internal Audit
Our extensive experience in the gaming industry, including tribal gaming operations, as well as our background in providing client audit services, positions our firm to deliver efficient and effective analyses of the functionality of the all-important control environment within a gaming operation. We have developed an understanding of the design and implementation of a sound internal control structure, compliant with applicable regulatory requirements, based on assistance provided to various entities in their start-up phase where we have assisted with the system submission to the regulatory authority. This understanding has been further developed during the assessment of the effectiveness of those systems gathered during internal audits of gaming operations.
Income Tax Provision Calculations
We have assisted the accounting department in their preparation for the annual financial statement audit performed by external auditors. We have found this element of the year-end audit to be one which the in-house accounting department may not possess the requisite experience and understanding necessary to prepare the income tax provision. Our services augment the accounting department, eliminating the need to bring on additional staff, as well as addressing the need to address the conflict of interest concerns as regulated by Sarbanes Oxley which preclude external auditors from preparing the income tax provision analysis.
Consulting and Agreed-upon Procedures
Our firm’s breadth and depth of business experience provide us with the ability and tools to approach your gaming operation with the trained eye of an objective observer. Whether these services include revenue enhancement/expense reduction analytics, cash flow analyses, or due diligence engagements, our passionate and professional approach to your business concerns lead us to seek solutions that will address your operating issues.
Industry Insights
Navigating State Tax Nexus
Introduction The Supreme Court's landmark decision in South Dakota v. Wayfair, Inc. in 2018 transformed the landscape of sales tax compliance across the United States. Prior to this ruling, businesses were required to collect and remit sales taxes only if they had a...
New In New Jersey – Pay Transparency
P.L. 2024, CHAPTER 91 was passed last November but went into effect June 1, 2025. It provides new hurdles for employers, especially those advertising open positions. Who does the law apply to? Interestingly, government employers are not exempt. In the private...
I’ve Been Scammed
With luck, those words will never leave our mouths. The sad truth, though, is that crooks are getting smarter and it’s really hard to know what nefarious scheme they will come up with next. If you find yourself a victim, can you claim any kind of tax deduction for...
Tax Advantages of Managed Service Organizations (MSOs)
Certain potentially lucrative tax strategies exist under current tax law for Managed Service Organizations (MSOs). For MSOs structured as a flow-through entity, such as a partnership or S Corporation, noncorporate owners may be able to claim a 20% Qualified Business...
Shareholders Running Afoul of the IRS
Many small businesses are taxed as S corporations because of tax benefits, such as the ability to avoid corporate tax on certain business earnings. Unlike C corporations, S corporations generally do not pay federal income taxes at the corporate level. Alternatively,...
New Jersey Property Tax Relief
In September of 2023, we reported on the existing and pending legislation offering property tax relief to New Jersey homeowners and tenants . A Stay NJ Task Force was appointed to develop recommendations for “establishing and funding uniform property tax relief to all...