So I was at the Venetian last weekend playing blackjack late one evening. I was talking to a pit boss while I was playing and I asked him when the casino resets their day for session purposes. In other words, if a player gambles from 10pm to 2am, is this considered a single 4 hour session for comp purposes (4 hours in one day), or is it considered a 2 hour session for one day and then 2 hours for the next. I realize that most casinos want players to hit that 4 hour threshhold each day. I mentioned to the pit boss that I wanted to get in 4 hours of play but that midnight was quickly approaching. The pit boss said that floor staff were instructed not to divulge this information to players and that it was company knowledge only. I tried to squeeze it out of him, but he wouldn't budge. Does anyone know the scoop for this as it relates to Venetian / Palazzo?
I checked one of my V/P SLOT offers(time period may be different for tables) & it states that my earning period is from 12:01AM to 11:59 PM. Next time you're at the V/P, check at either/both Grazie desks for the table time period play.
My personal opinion, but if that's V/P's general policy to withhold that info, it would make me not want to play there. Cosmo made it clear to us it was midnight there (terrible cutoff, imo). CET is generally 6am...forget about MGM.
The reason the company won't tell you the gaming day is because they are not permitted to under title 31. This information can be used to structure cashing in chips to avoid the 10k threshold and the CTRC that is required to be completed by the casino.
There are some reasons to want to know this, like getting bonuses for accumulating X slot points in a "day", but for most people, for playing against a comp, it doesn't make much difference - if you're there for multiple days, your play gets averaged out. So hitting 4 hrs on any given day isn't that big a deal.
The gaming day can be, and probably is, a different day than the rating day. Its defined under Title 31 Sec 1021.100 as: "Gaming day means the normal business day of a casino. For a casino that offers 24 hour gaming, the term means that 24 hour period by which the casino keeps its books and records for business, accounting, and tax purposes. For purposes of the regulations contained in this chapter, each casino may have only one gaming day, common to all of its divisions." FinCEN has an entire section on their website just for casinos if anyone wants to read more than they ever cared to about casino reporting requirements: http://www.fincen.gov/financial_institutions/casinos/ The reason I say it is probably different than the rating day is because they would have to footnote it in their financials if their accounting period started/ended on anything other than a standard calendar day, and it can also cause accounting headaches for a bunch of reasons. I haven't see that mentioned in any casino company financials but I haven't specifically looked for it either. As Chuck said, players often need to know the rating day for promos and stuff. CET gives this info all the time and even lists it under their FAQs for many casinos.
Casino regulations under the Bank Secrecy Act http://en.wikipedia.org/wiki/Casino_regulations_under_the_Bank_Secrecy_Act Interesting read
That was an interesting link. It mentioned casinos tracking smaller transactions $3000 to $4000 just to make sure they are compliant. I am assuming this would be applied to cashing chips. I wonder how they monitor this if they do not ask for any ID or players card when you cash in a couple thousand in chips?
Actually they do. I don't know the exact threshold, but the few times I've had more than $3000 in chips they always seemed to ask for my player's card, and once or twice wanted to know what table I won them at. They probably will catch you and issue a Cash Transaction Report anyway if you try to avoid cashing $10,000 in one swoop by spreading it out over several trips to the cage.
All I would be permitted to say is that the casino is keeping track of all of your buy ins and cash outs and aggregating this data.....the threshold that they start recording this data is well below 10k but the exact amount varies from property to property and it would be against the rules for me to discuss industry standards.
I'm just going to say each casino or gaming business has a different set of hours that they consider a gaming day and any casino employee that provides that info is risking their jobs if they are providing it.
