Starting a Casino Plan

Public Policy and Policy goals

Public policy goals have been integrated into the gaming legislation and are as follows:

The industry has public policy goals incorporated by the jurisdiction; these regulations include:

Regulation of the industry, the regulation is done through various ways which include licensing and taxation, these the government reserves the right to cancel these licenses at any time if it is noted that the casino is not running according to the laws and regulations.

External regulatory bodies are appointed to monitor the gaming, these external bodies are expected to be independent i.e. they should have nothing to do with the government. These external bodies have powers to

Look if the casino qualifies for the application.
Look into the insurance details of the casino.
Investigate if any of the regulations are being adhered to.
Collect the charges imposed on the casinos.

Regulatory (Agency structure)
Introduction

Over the years gambling has evolved into a legal a business that is recognized by the government, this has seen country’s grow economically as a result of the gambling industry. But with the legalization, gaming/gambling is seen different from other business because the government is always inspecting casinos and other gaming business. This is to secure people from being robbed by fraudulent owners of casinos.

Strict Regulation- Framework Implemented by Casino Control Act 1976-1977

The people of New Jersey approved the legalization of casino gaming in the year 1976. The casino gaming was to be used as a means to develop the city of New Jersey. This was further passed into a law in 1977 and was supposed to aid in the redevelopment of the tourism industry in New Jersey along with the whole hospitality industry.

Deregulation – Changes Made in the 90’s

In the 1990s New Jersey made changes in the regulations by removing most of the regulations that were not seen as a critical function, these critical functions were:

Making sure that the people involved in casino gaming were honest and worked with integrity. The people involved in this casino gaming industry are the people who are employed I it, the employers and the people who supply the commodities. The other function was to set rules to be ensured that the games were free and fair. This is to make sure that players are not conned in competitions. The last aim of the reform was to ensure that the casino business do proper accounting of all the income.

Regulatory overhaul of – SB 12 (2011-2012)

The regulatory overhaul was a stage at which regulations were changed by the government. Before the overhaul the commission was I charge of anything to do with gambling from licensing to the revoking of licenses. After the overhaul the power was returned to the government.

Rulemaking: This is the process that lead to the rules and regulations that are used in the corporation.
Licensing

Licensing is done by the government. This is the process of acquiring certificates and papers that indicate that the business is legal and that it is allowed to run by the government.

Introduction

Licensing is a way the government uses to take control of the industry. With licensing the government can monitor the casino business and regulate them. The licensing also assures the customers of the legitimacy of the business.

Initial Licensing Requirements under strict regulation

The strict licensing policy is put in place to filter the people that can work in the casino industry; this ensures quality in the business as well as keeping the clients assured.

Loosening of Requirements: in this case the regulations are reduced in that many people will now be able to pass the required tests.

Current Licensing Standards: these are the standards that the casinos have to attain before they are accepted and licensed
Breath
1. Operators: These are the people that run the casinos, they manage the casinos. This means that they are in charge of everything that goes in in the casinos which includes the resources in the casino and the employees.
1. Landlords: The landlords are the people that own the building in which the businesses are run. They have no stake in the businesses hence do not contribute anything in the casino business. Landlords are not always in the list as some casino owners have built their own casinos.
1. Gaming Employees: These are the people that actually run the casinos, running the casinos means generating money for the casinos. They are the people that directly deal with the customers. They sell the tokens that are used, they are the people that handle the gambling tables making sure the games are in order and assisting in case it’s a game that needs moderation.
1. Junket Representatives: These are people who people who entice people to try gambling, they get paid a commission of the amount spent by the client. The payment is done by the casino manager
1. Information Services: The information services are services that enable customers or potential customers access information about the casino from remote locations. These services also enable the customers to gamble from remote locations. They can gamble online and experience the same games as people who are in the casino.
1. Service Industries: These are industries that offer services that are related with the casino business, they support the casino business by helping them in one way or the other.
1. Race Books and Sports Pools : these are gambling games that involve sports , one gambles basing on going games by trying to predict the winners

Disseminators:
- Gaming Devices: These are the devices that are used by the customers to gamble, a good example of this are the slot machines that are used to gamble. Gamblers insert money into it and if the combination is correct the person ends up wining.
- Lenders: These are people that loan other money in the casino. They loan money to the players with the casinos acting as security to the loans
- Labor Organizations: This is a group that is formed by the employees in order to look out for their welfare.
- Gaming Schools: These are centers were gambling takes place i.e. casinos and clubs that host gambling.
Depth
- Individuals: these are people that own the businesses alone without any financial support from companies of other people.
- Private Corporations: these are privately owned companies that have been established by a few members of none governmental organizations.
- Publicly-Traded Corporations : this type of corporation is one that is known by many people who have contributed to the company by buying shares
- Limited Liability Companies: these are companies that are independent. They are an entity in their own. This means that the owners cannot face the debts of their company. if the company goes bankrupt the owners assets are safe.
- Partnerships: this is a company that is made of two or more people; the number of people in a partnership is limited to 20people.
- Qualified Institutional Investors: also known as the QIB is entity that is in the category of accredited investors.

Foreign Investment: these are investments from other countries, it consists of exchange of money between countries in exchange for shares I the particular corporation.

Criteria
- Character: character is a person’s behavior that describes them.
- Financing: this is the use of money in order to pay support a project that is under construction or is scheduled for construction.
- Business Competency: this is the ability of a business to deliver the services that are expected from it.
- Location: this is the physical address of the company. The pace was the company’s offices are.
Levels
Process: this are the stages at which people go through as they are trying to register for a license.
Standards: these are levels of quality that the corporation has set. These levels have to be raised or just maintained at the current position.
Application: this is the formal launch of the bid to get the casino license by applying for it.
Investigation: this is the scrutinizing of all the details about the applicant. The investigation is aimed at finding out things that may inhibit the licensing.
Approval Process: the process that the government takes in order to verify the details provide by the corporation that has applied for casino license.
Judicial or Other Review: a judicial review is a review by the justice system that certifies that there are no prior criminal offences that the company members have experienced.

H. Dispute Resolution

All disputes shall be handled efficiently and in a mature manner by the New Jersey State Police. A dispute shall not be handled in a kangaroo court inside a casino. There shall be two main types of disputes that is the interpersonal and the casino disputes that involve funds in the casino. If disputing parties resolve to solve the issues peaceful together the decision reached upon by the two parties shall be gladly welcomed.

G. Disciplinary and tax dispute:

Any business doing regular or in casino business must be licensed. The state of New Jersey shall levy casinos 8% of their gross income. This funding shall be dedicated to funding programs for senior citizens and those who are disabled. All businesses operating in casino businesses shall be required to fully abide with the taxation law which states that the casino business shall not avoid or evade being taxed. Casinos shall employ residents of New Jersey as the greatest workforce. Strict disciplinary measures shall be meted on casino owners’ who are caught having evaded or avoiding tax.

Enforcement

Tax enforcement is the enforcement is the ability to enhance tax collection and the mobilization of revenue collection branches towards achieving the set revenue goals. Tax enforcement shall be carried out to all casinos irrespective of the status of people therein or the owner. In order to encourage payment of taxes, the treasurer shall write to casino owners urging all of them to comply.

Accounting: Minimum control standards shall be carried out on a number of gambling related casinos the handling of all their cash in terms cash equivalents, the record of all accounting trails and their records held together. Audit firms shall be engaged in cases whereby accounts are explicitly not set.
Record keeping: The records of all transactions in a casino shall be stored efficiently for availability purposes as well as to ensure that tax returns are available for assessment by the state government of New Jersey. It is an expectation for all business too and casinos being business too cannot be ruled out on this.
Cash reports: Daily cash reports are able to store the casino’s inflows and outflows. The state government of New Jersey states that the state shall expect cash flows of casinos to be kept so as to ensure that gambling done here is on a legal basis. And the cash flows are signed by the involved such that cash flows in and out are the same ones that reflect in the tax returns.
Internal controls: The state of New Jersey expects all casinos to be registered with accounting and auditing information that meets the objectives of the casino.
Audits: The local government of Jersey expects the official inspection of an organizations accounts by an external body that they have no influence on. This way, loopholes for corruption are made minimal.

J. Operational controls:
Just like any other business, the state of New Jersey expects that Casinos practice operational controls to ensure that they are able to minimize the potential for harmful business environment.

i. Access control:

I t is a security technique that can be used to regulate extra use of resources. The state government of New Jersey expects the casino owners to exercise strict controls over gambling.

ii. Documentation controls:

It is a document control and management support towards a business. It is a legal requirement for casinos to hold if they must freely operate in New Jersey.

iii. Personal controls:
It is the ability that allows a person to be able to be compassionate and understanding: the matter. Under which they argue should be able to political trap

Hours of work

For casinos, hours of work are not the major reason., in this business however it is bestowed upon each individual to resist harsh working conditions an d be a champion of their own growth.

Advertising:

It is the ability to manage and market the industry and its products. This is the property that makes the industry known and its products known. This leads to the products being able to sell better. The state of New Jersey expects the casinos to own up this character too. \

Entertainment;

This is the way in which firms not only consider being able to provide the services they offer but also the ability to give their customers a friendly environment while they work. This friendly environment encompasses all the entertainment maters including music and facilities such as swimming pools. While it is not a must to do, it is expected of casinos by the state government of New Jersey to provide entertainment to their customers.

Exclusion
Minor: As per the state, the minor is anyone who has not yet achieved the age of 21 years. The state expects the casinos to always avoid hosting minors as they have not reached the right decision making age to get involved in gambling
Mandatory Exclusions: These are the people who by law, the casino should not host at all despite how much money they raise from it. Among these as stipulated in the state of New Jersey’s list are mad people and extremely sick people. It clearly stipulates that casinos cannot be used to replace hospitals.
Discretionary Exclusions: They are people who were members of the game in the start but have however been forced to quit it due to the following reasons:
They have been depleted off their cash
They have threatened to play the game unfairly and other stakeholders cannot take it.
Gaming contracts

It is the property that makes it possible for an individual to strictly follow the rules of the game and win fairly. Without any gamer being in debt with the other

Enforcement of gaming debts: This includes how much players keep up the task of recovering debts from the games they won and the opponent was depleted of cash at hand.
Credit controls: It is expected by the state’s laws that a casino shall work towards the good relationship of stakeholders by ensuring they are not in debt and only at very rare instances.
Credit collection: It is the use of various debt collection method to recover debts from previous games when a player was cleft owing the casino an amount of money.
Player disputes: Disputes among players who are stakeholders of a game should be judged on a just basis without any intimidation of any member.