Gross Annual Gaming Revenue Law and Legal Definition

According to 31 CFR 103.11 [Title 31 -- Money and Finance: Treasury; Subtitle B -- Regulations Relating to Money and Finance; Chapter I -- Monetary Offices, Department of the Treasury; Part 103 -- Financial Recordkeeping and Reporting of Currency and Foreign Transactions; Subpart A – Definitions], gross annual gaming revenue means “the gross gaming revenue received by a casino, during either the previous business year or the current business year of the casino. A casino or gambling casino which is a casino for purposes of this part solely because its gross annual gaming revenue exceeds $ 1,000,000 during its current business year, shall not be considered a casino for purposes of this part prior to the time in its current business year that its gross annual gaming revenue exceeds $ 1,000,000.”