Spring 2010 issue of Horizons

Raise Your Expectations CERTIFIED PUBLIC ACCOUNTANTS AND BUSINESS CONSULTANTS

CONCLUDING THOUGHTS

Problems related to missing documents, signatures and failed authorizations will be alleviated by innovations such as table-touch systems, electronic signatures and improved documentation capabilities that will replace the current systems used by casinos. The movement to electronic documentation will be critical as casinos look to cut excess costs related to meeting regulatory requirements and improve overall operational efficiencies. In addition to reducing incidental costs like those associated with paper documentation, properties that succeed in increasing revenue will adopt a philosophy related to the continuous improvement of internal processes. Traditional non-revenue-producing departments such as revenue audit and accounting departments will be challenged to change their methodologies to bring value to the bottom line. While a stringent focus will still be on meeting regulatory requirements, successful properties will incorporate fulfilling business objectives and streamlining operations to reduce costs. Resources such as data analysis, trending and risk-focused procedures will aid internal departments in identifying lost revenue, excess costs and compliance violations. Continuous improvement should not be limited to property or corporate operations but extended also into the regulatory environment. Successful properties will partner with other industry experts to work with state regulators, manufacturers, testing laboratories and vendors to devise ways to reduce costs and improve the efficiency of the required regulatory procedures. COMMITTING TO CONTINUOUS IMPROVEMENT

The recent economic recession coupled with the states’ legislative expansion of commercial gaming has resulted in a shift in the United States gaming industry. Growth will be focused on the creation of new regional markets and expanding those that already exist. In order for properties to be successful, they will have to continuously exceed patron expectations while leading the industry in the reduction of costs through technological innovation and continuous improvement techniques.

Questions? Contact:

Jim Mather, CPA Partner-in-Charge Hospitality & Gaming Services Group 314.290.3470 jim.mather@rubinbrown.com Chelle F. Adams, CPA Partner Hospitality & Gaming Services Group 314.290.3329 chelle.adams@rubinbrown.com

36 u spring 2010 issue