N.M. Admin. Code § 15.1.8.7 - DEFINITIONS
Unless otherwise defined below, terms used in this rule have the same meanings as set forth in the Gaming Control Act.
A.
"Act" means the New Mexico
Gaming Control Act.
B.
"Audit" means an examination of an applicant's or licensee's
accounting records, financial situation, and business practices to determine
compliance with generally accepted accounting principles, state law, or rules
adopted by the gaming control board.
C.
"Business year" means the
annual period used by a licensee for internal accounting purposes.
D.
"Cash equivalent" means an
instrument of equal liquidity and security as that of legal tender.
E.
"Credit play" means operation
of a licensed gaming machine that accumulates awards on a display rather than
dispensing the winnings from a hopper; one (1) credit equals the denomination
of the game being played.
F.
"Credit slip" means a cash-out ticket for winnings earned on a
gaming machine that provides for credit play.
G.
"Drop" means the total amount
of money and tokens removed from the drop box, or for cashless gaming machines,
the amount of credits deducted during play.
H.
"Drop box" or "drop
bucket" means a container in a locked part of the gaming machine or its
cabinet that is used to collect the money and tokens retained by the gaming
machine that are not used to make automatic payouts from the machine.
I.
"Gaming tax transfer account"
means a bank account maintained by a gaming operator licensee for the
exclusive purpose of gaming tax payments to the state treasurer on a monthly
basis.
J.
"Gross
revenue" means all receipts from the operation of gaming machines before
any deductions and equals the total of cash wagered by patrons and cash
received for credit play.
K.
"Hold percentage" means the percent of coins or credits played
that are retained by the gaming machine; it is determined by subtracting the
payback percentage from one hundred percent (100%).
L.
"Hopper" means an assembly
inside the gaming machine that receives, holds, and dispenses coins.
M.
"Licensed premises" means the
area that has been approved for gaming on the premises that is under the direct
control of a gaming operator licensee and from which the licensee is authorized
to operate and permit the play of gaming machines.
N.
"Payback percentage" means
the theoretical percentage that will be won by a player during a cycle of play
on the machine.
O.
"Premises"
means the land together with all building's improvements and personal
property located on the land.
P.
"Soft meter" means an internal electronic accounting system that
can be displayed on the screen of a gaming machine or in the coin window on a
reel gaming machine.
Q.
"Standard financial statements" means statements that represent
fairly an entity's financial position and results of operation in conformity
with generally accepted accounting principles (US GAAP), international
financial reporting standards (IFRS) or any other comprehensive system of
accounting acceptable to the board.
R.
"State" means the state of
New Mexico.
S.
"Statements on
auditing standards" means the auditing standards and procedures
published by the American institute of certified public accountants.
T.
"Taxation and revenue" means
the New Mexico department of taxation and revenue.
U.
"Wager" means a sum of money
or thing of value risked on an uncertain occurrence.
Notes
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