Virginia Code 58.1-4112: Records to be kept; reports; reinvestment projection
Current as of: 2023 | Check for updates
|
Other versions
A. A licensed operator shall keep his books and records so as to clearly indicate the total amount of gross receipts and adjusted gross receipts.
Terms Used In Virginia Code 58.1-4112
- Adjusted gross receipts: means the gross receipts from casino gaming less winnings paid to winners. See Virginia Code 58.1-4100
- Casino gaming establishment: means the premises, including the entire property located at the address of the licensed casino, upon which lawful casino gaming is authorized and licensed as provided in this chapter. See Virginia Code 58.1-4100
- Department: means the independent agency responsible for the administration of the Virginia Lottery created in the Virginia Lottery Law (§ 58. See Virginia Code 58.1-4100
- Gross receipts: means the total amount of money exchanged for the purchase of chips, tokens, electronic credits, electronic cash, or electronic cards by casino gaming patrons. See Virginia Code 58.1-4100
B. The licensed operator shall furnish to the Department reports and information as the Department may require with respect to its activities on forms designated and supplied for such purpose by the Department.
C. Every five years the licensed operator shall submit to the Department for review and approval a reinvestment projection related to the casino gaming establishment to cover the succeeding five-year period of operations.