As the oldest and largest legalized gaming center, Nevada currently regulates 500 casino licenses and manages 1,800 slot licenses, 1,360,000 slot machines and 5,300 table games across the state. 45 percent of Nevada’s revenues derive from gambling. They hold the largest share of state revenue originating from the gambling market.
Nevada first legalized gambling in 1931 during the Great Depression as a method of simulating the economy. Unfortunately the gambling industry in the state didn’t take flight until after World War II. Since this point, the gambling industry in Nevada has survived investigations, organized crime and numerous other shots to its reputation.
There are two regulatory bodies that oversee gambling in Nevada. These include:
- The State Gaming Control Board
- The State Gaming Commission
The State Gaming Control Board is the administrative section of gaming regulation. They handle licensing investigations, enforce gaming laws and regulations and collect and monitor taxation. Also, they are prosecutors in legal battles.
The Board has three members; a CPA, an individual with a law enforcement background and a member with a business administration background. These three members are appointed by the Governor of Nevada and serve full-time, four-year staggered terms.
The State Gaming Commission makes all decisions on gambling policy and regulations. They have the power to issue, deny, suspend, restrict, revoke and limit gaming licenses. The Gaming Commission also institutes disciplinary actions to those that do not follow the rules. This board consists of five Governor-appointed members that serve part-time.
click here to see most Popular PagesIn Nevada, two different types of gambling licenses exist. These include:
- Restricted licenses
- Unrestricted licenses
Restricted licenses limit the number of slot machines in a casino to 15 and prohibit the operator from offering any other type of game. These licenses are generally issued to small bar owners, restaurants and grocery stores. A regular investigation is required for the issuance of these types of licenses.
Unrestricted licenses allow the casino to offer slots, gaming devices and table games. To acquire this type, a thorough background investigation is conducted by the Gaming Control Board. The Board then refers its findings and opinion to the Gaming Commission. They make the final decision of acceptance.
Nevada is the model of gaming regulation and law for the rest of the United States and even the world. Although it may seem simple, it is difficult to acquire a gaming license in Nevada without a squeaky-clean background.
