Fall 2010 issue of Horizons

Hospitality & Gaming – continued

The report credits the moderate success in the Midwest to a decline in U.S. tourism, the addition of new casinos and expansion of existing facilities for a more regionally-focused gaming industry in the past few years. The four Midwest states, Illinois, Indiana, Iowa and Missouri, comprised 22 percent of the 2009 AGRs nationwide. “Although we were in a recession, gaming in the Midwest has not been deeply affected for the most part because consumers are spending less on travel,” said Chelle Adams, CPA, partner-in-charge, RubinBrown’s Gaming Services Group. “People are staying closer to home and spending less on

bigger travel destinations, allowing for the Midwest to continue creating capital projects.” Adams attributes three common traits to the success of new and established gaming properties: strong patron loyalty through service and rewards programs, leadership in technological innovation that improves the patron experience, and a commitment to continuous improvement of internal processes. Despite the growth in Missouri, not all Midwest states had similar success in 2009. Indiana, although suffering a slight drop in revenue, fared

RubinBrown Presents at National Gaming Conference

Earlier this year, RubinBrown Partner Chelle Adams presented to approximately 250 attendees of the 2010 Gaming Conference in Las Vegas, which is hosted annually by the Institute of Internal Auditors. During her presentation, she discussed four significant fraud scenarios that have occurred within a casino’s slot operation and explained specific controls and internal audit procedures that could have been effective in deterring and identifying the frauds.

RubinBrown Partner Chelle Adams presents on slot frauds at the 2010 Gaming Conference of the Institute of Internal Auditors.

In addition to providing a summary of the history of slot fraud dating back to the 1980s, Adams detailed the background of each of the four fraud scenarios: 1. Bill validator theft and variances 2. Creation of fraudulent tickets that are later redeemed for cash 3. Fraudulent use of test and promotion cards 4. Issuance and transfer of fraudulent rewards within a slot player’s club If you would like to learn more about slot fraud, please contact RubinBrown. Our team of gaming experts can help with identification and implementation of controls and audit procedures, as well as assist with other financial and consulting services.

Raise Your Expectations

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