The Nevada Gaming Control Board has issued a directive to the state’s casinos regarding the discontinued minting of pennies by the Treasury Department and rounding procedures.
The Board addressed the directive from the Treasury Department that the penny remains legal tender and states will be tasked to approach the issue differently, based on “unique considerations.”
“Due to Nevada’s unique gaming industry that relies heavily on the use of cash and coins, the Nevada Gaming Control Board is issuing this industry notice to provide guidance to licensees that may face a shortage of pennies,” the notice said in discussing the type of rounding that may be permitted, the requirement to give notice to patrons regarding the licensee’s rounding policy, and the effects of rounding on gross gaming revenue.
Licensees may choose to round up and down as necessary to the nearest five-cent increment.
“Regardless of the option, the licensee must provide proper notice to patrons regarding the licensee’s policy. Licensees are not permitted to only round down,” the notice said.
Notices can be made through signage throughout the casino, signage anywhere tickets can be redeemed, and on-screen messaging on kiosks during redemption.
If a licensee wants to adjust gross gaming revenue for any amount due to rounding, documentation must be maintained to substantiate the difference between the original payout amount and the rounded amount paid to the patron, the notice said. The documentation must be produced upon request by Board agents.
The Board said it is aware that some licensees may want to allow their patrons to donate amounts that are not in five-cent increments or any amount to charity. If this choice is permitted by the licensee and the patron chooses to donate the amount rounded to charity, it will not be considered rounding. Instead, it will be considered a donation from the patron to the charity after the initial payout. The amount donated by the patron is not deductible from gross gaming revenue, the notice said.
“If charitable donations are required by the licensee (patron cannot opt out), proper notice of the policy must be given to patrons,” the notice said.
