Proctor Exam Flashcards
1/ (# of Points earned Per $1 of Coin-In)(# of Points Required to Redeem $1 of Value) (House Value) X 100
Percentage of Theo
A measure of how many of your better players are using your players club when playing.
Carded Coin-In
The concept of Lifetime Average Worth posits
A Player’s value to the casino will always be greater when viewed over a longer period of time
When a customer recommends a casino establishment to a friend or acquaintance.
Referral
ADT or 40% of Average Actual Win (Whichever is Greater).
ADW
Average daily worth
A measure of how many of your customers are using your players club when playing
Carded Headcount
A term that represents wagers made through a slot or video poker device
Coin-In
Player Theoretical X Reinvestment %
Offer Value
In Poker, the sum of money a player exchanges for chips
Buy-In
Cost of Benefit / Theoretical Win X 100
Player Reinvestment Percentage
Revenue / Cost of Goods X 100
ROI
REturn On Investment
______ are tied to reinvestment rates based on the nature of the offer, the strategy behind it, and other factors such as market stability, competitiveness, etc.
Direct Mail Offers
1/ (# of Points earned Per $1 of Coin-In)(# of Points Required to Redeem $1 of Value) X 100
Percentage of Coin-In
Mathematical winning edge that the casino gives itself by manipulating the rules of the games to ensure profitability.
House Advantage
Wager X Decisions
Handle
Coin-In - (Coin-Out + Jackpots)
Actual Win
A mathematical form that lays out all associated costs of an event, and determines the necessary revenue that needs to be generated in order to achieve an acceptable rate of return
Pro Forma
The most effective determinant of responsive to direct mail.
Recency
Provide the dollar value, based upon the length of time a player plays, the speed at which they play, the selected machine or live game and the hold percent of the game played.
Player Tracking
Actual / Theoretical Win - Cost of Goods
Player Profitability
Casinos in _____ provide more lodging facilities, various restaurants, and additional recreational amenities.
Pleasure Markets
(Beginning Bank + Buy-Ins) - (Ending Bank + Credits)
Actual Win (Table Game) page 4
A theory that in order to enjoy an edge over the house, players need a game that has en even, or negative edge to the house, or a game with extremely small margins and the ability to add benefits to change the edge to a positive.
Advantage Play
page 21
Which of the following is NOT a Player Utilization measurement used to determine player acceptance and response to casino marketing programs and strategies?
Player Worth
The Math of Player Development page 27
The length of time a player stays at a casino
Retention
Hashimoto p. 93
A term generally accustom to as casino gross revenue is:
WIN
True or False
For a state casino gross-revenue taxation, markers are generally not considered part of the casino win until they have been collected.
True
Which of the following is a commonly used IRS Form by casinos?
Form 1099 (Miscellaneous Winnings) Form W-2G ( Gambling Winnings) Form W-( (Request for Taxpayer Identification NUmber and Certification) All of the Above Answer is All of the Above
U.S. Department responsible for Title 31 compliance is:
Financial Crimes Enforcement Network (FinCEN)
Which of the following is NOT a term often used to describe a component of money laundering?
Integration Credit Swap Layering Placement Answer is Credit Swap in NOT in the money laundering
The Bank Secrecy Act (1984), requires all banks and financial institutions to record and report all cash transactions that exceed ______ during a particular time period.
$10,000
Title 31 related documents and logs casinos create/maintain.
Multiple Transaction Log (MTLs)
Governmental gaming authorities are first and foremost concerned with the proper functioning of the casino operations. A secondary objective is proper reporting of _____.
Gross Gaming Revenue
One of the purpose of casino minimum control standards (MICS) is to accommodate the large variety of gaming operations by specifying minimum standards (regulatory floor) rather than absolute standards.
True or False
True
It is the responsbilty of the internal management departments of casino to act as top management’s first line of defense in maintaining the integrity of casino operations
True or False
True
Coin in - (coin out + jackpots)
Slot win formula
(Beginning bank + buy ins) - (ending bank + credits)
Table games win formula
The difference between slot coin in and drop
Coin in is the amount of coins put in a coin slot or played off the credit meter. Drop is the amount of coins collected inside a slot machine’s bucket
Types of commercial gaming facilities in the U.S.
Land, river and tribal
Taxation of commercial casinos in the U.S.
It depends on the state
Taxation of tribal casinos in the US
None
Income (profit) divided by invesenr
Return on investment calculation
Examples of aggregate economic activity measured used to forecast (predict) future business levels
Auto traffics counts of visitors to a city, airline passenger counts into and out of a city, hotel occupancy stats, average expenditures per visitor or admission
Calculated dollar variance to budget for a line item on profit and loss statement
Expected result (budget) minus actual result
Alternative term for casino gross revenue
Win
Treatment of markers invasion gross revenue calculation
Markers are generally not considered part of the casino win until they have been collected
Casino minimum internal control standards (MICS)
It is used to accommodate the large variety of gaming operations by specifying minimum standards rather than absolute standards
Primary responsibilities of casino internal audit depart ta
Act as top management’s first line of defense in maintaining the integrity of casino operations
Primary responsibilities of governmental gaming authorities
First and foremost, they are concerned with the proper function of casino operations. As secondary objective is proper reporting of gross gaming revenue
What is ADT
The average win per day for a customer and is calculated by taking the theoretical win a player generates over several days of playing and averaging the results
