thread is getting good...love thieves

lol at this spreadsheet and it proving anything. Someone should present this to Gambling Commissions in each of the respective states and stop this nonsense. get 3% + Staff appreciation + groveling for more at the cashout process. Think I may start doing this in my business.

Either be open and transparent upfront with total costs/fees/etc. or cut this crap out.

Where is Chainsaw????

It is presented to gaming commissions.

ok thx

Are you 100% sure of this Bob? If it is true, why hasn't Jimmy pointed this out?

For the record, I don't believe Jimmy has done anything wrong. There is no proof of wrong doing just some claims made by disgruntled former employees.

But to make a claim that Jimmy runs his finances by every gaming commission he works with just doesn't seem likely.

Jimmy, if the Gaming Commissions do in fact review your finances, that would be an excellent way to support yourself.

If the Gaming Commissions do not review your finances, maybe it would be better if BigTex21 didn't make claims that aren't accurate.

I do think there might be some oversight from each casino since they have to document the money that comes in and goes out. If there were problems, considering the scrutiny that casinos face constantly, they would be the first ones to raise a stink and PTC would not be asked back to the same locations year in and year out.

I asked Bill Bruce this question and was told yes it is submitted to gaming. A few years ago dealer addons were allowed then it was not allowed in Ms. for nearly a year. When gaming allowed it back I was told they required a tracking of the money since they get 16% of casino profits.

just because its not technically breaking any law/rule/whatever you want to call it, it doesnt mean its not awful. and it seems pretty clear it has benefited james financially more than we knew.

Not according to the MGC (Ms Gaming Commission), they are funded entirely on fees and fines that they assess.

http://msbusiness.com/2010/03/gaming...-live-on-fees/

http://www.mgc.state.ms.us/pdf/letters/200901indltr.pdf

You left out the taxes that go to the State of Ms., counties and cities.
Monday, February 06, 2012


Gaming Taxes and Rates
All legal gaming conducted in this state is subject to taxation. All establishments where gaming is conducted and where gambling devices are operated, and manufacturers, sellers and distributors of certain gambling devices and equipment are subject to the below fees and taxes.


More Information (link to statistics, forms, due dates, etc.)


License Fee (Gaming Establishment)
( Miss. Code Ann. Section 75-76-183)

Each applicant for a license to conduct gaming must submit an application fee of $5,000. Each licensee must pay an annual license fee of $5,000.


License Fee (Manufacturer, Seller or Distributor)
( Miss. Code Ann. Section 75-76-79)

Annual license fee- manufacturer
$
1,000.00

Annual license fee- distributor or seller
$
500.00


The fee is due before issuance of license and annually on anniversary date of license.

License Fee Based on Number of Games
(Miss. Code Ann. Section 75-76-191)

The fee is due before or at time of application, then annually on anniversary date of license.

1 Game
$50

2 Games
$100

3 Games
$200

4 Games
$375

5 Games
$875

6 to 7 Games
$1,500

8, 9 or 10 Games
$3,000

11-16 Games
$500 each Game (From one to sixteen)

17-26 Games
$8,000 Plus $4,800 each Game (From 17 to 26)

27-35 Games
$56,000 Plus $2,800 each Game (From 27 to 35)

Over 35 Games
$81,200 Plus $100 each Game (Over 35)



Gross Revenue Fee
(Miss. Code Ann. Section 75-76-177)

Payment of tax is due by Friday of the succeeding week in which fees accrue. A monthly reconciliation return is due by the 20th of the succeeding month in which fees accrue.

First $50,000 Gross Revenue
4%

Next $84,000 Gross Revenue
6%

All Gross Revenue over $134,000
8%



Municipal/County Fee
(Miss. Code Ann. Section 75-76-195)

All Municipal/County Fees are collected by the Department of Revenue.

Payment of tax is due by Friday of the succeeding week in which fees accrue. A monthly reconciliation return is due by the 20th of the succeeding month in which fees accrue.

First $50,000 Gross Revenue
4/10%

Next $84,000 Gross Revenue
6/10%

All Gross Revenue over $134,000
8/10%






Municipal/County Fee, additional
Authorized by local/private legislation as noted.

Location
Authorized by
Levy

Adams County
SB3353, 1994
Authority to impose a tax on monthly gross revenue not to exceed 3.2% from any facility outside the municipal limits of Natchez.

Bay St. Louis, City of
HB1695, 1991
$100 per gaming device annual tax.

Biloxi, City of
HB1504, 1992
$150 per gaming device annual tax. 3.2% monthly gross revenue tax.

Coahoma County
SB3305, 1994
3.2% monthly gross revenue tax. $150.00 per gaming device.

D'Iberville, City of
HB1505, 1992
Authority to impose monthly fee not to exceed 3.2% of the gross revenue, and annual license tax not to exceed $150.00 upon each gaming device.

Gulfport, City of
HB1520, 1992
3.2% monthly gross revenue tax. License tax of $250.00 per card game or table game, and license fee of $100.00 for each slot machine.

Hancock County
HB1633, 1993
3.2% monthly gross revenue fee. License tax of $100.00 per each gaming device.

Harrison County
SB3358, 1994
Authority to impose a tax on monthly gross revenue not to exceed 3.2% from any facility outside municipal limits; and annual license fees not to exceed $150.00 per gaming device.

Natchez, City of
SB3117, 1993
3.2% of gross revenue.

Tunica County
HB930, 1994
3.2% monthly gross revenue tax.

Vicksburg, City of and Warren County
SB3129, 1993
3.2% gross revenue. Annual license fee of $150 per gaming device.

Washington County
HB 1907, 997
3.2 % monthly gross revenue tax.


http://www.dor.ms.gov/taxareas/misc/...gtaxrates.html
Gaming commission does not tax they just charge fees and fines but state, cities and counties do tax.

Jimmy, I've never met you personally, but I must thank you for all the hard work you've put into tournament poker all these years. The success of the events you ran is what every tournament should strive to be. Congrats on becoming a grandfather. May your future be filled with joy and laughter.
This made me laugh.

Thanks! It will be filled with Joy and laughter. Life is short...enjoy...

If it were not for Jimmy all tourneys would be basically "crap shoots". He is one that decided to give players more levels and increased time and most other TDs followed suit.

We were discussing money you claimed the MGC collected from casinos. You expressed it as a percentage. Let me remind you:


I then posted two links that referred to the monies that the MGC CAN collect with is fees and fines. Nothing that is based on a percentage of the casino revenue.

The long list of taxes you posted have nothing to do with the MGC which is what you claimed. The MGC isn't even funded out of the General Fund any longer, they are totally funded from a Special Fund which is fed by assessing fees and fines.

Taxes have nothing to do with the MGC, period. Not sure why you went to all the trouble of listing taxes that the MGC does not levy or collect.

I didn't leave anything out, we were not talking about all the counties, the state and every town in Ms. The discussion was on the MGC and what they can collect. My links included all the fees they can levy.

Nice try at obfuscation there BigTex, but your statement about the MGC collecting 16% from the casinos is wrong, try to be man enough to admit it.

I can admit when I am wrong, never seen you do it however and there have been opportunities.

The gaming commission follows the money in casinos along with the DOR inorder to assure that the govt is receiving their allotted share and if they don't the commission is the dept that fines and or pulls their license. Something you are not used to since your employer basically answers to no one.

Conducting audits (if they do that) is not collecting a percentage.

As to my employer not answering to anyone, that is ALMOST true...

Except the Gaming Commission in Oklahoma,

Oh and the State of Oklahoma since they are paid by the casino based on revenues, you do realize that don't you? Lot's of accountability, the state can audit to insure they get their share. You did notice that dollar that gets dropped before each cash hand is dealt when you have played at Choctaw, haven't you?

That is split between the State and the Nation.

All Oklahoma Nations have the same Compact with the State of Oklahoma, but you knew that, right? That drop is also made on all table games. The State also gets a piece of the electronic games revenues, again split with the Nation.

Then there is the FBI who investigates most crimes committed at the casinos.

There is more but quite frankly, I'm bored.

Keep telling yourself you're right, eventually you might actually get something correct.

This x1000. 25/25 and 50/75 levels!!

Sure will miss you and Teresa!... Thanks for everything!

I agree with Cowboy. You and Theresa will be missed!

I'll take a 5-10% rake crapshoot over 30+% rake with a million dollars in starting chips and 24-hour levels.

i'll take any of them with properly advertised fees that aren't hidden in the structure sheet and handled like a bunch of mobsters going around bullying you out of more money.

Thanks cowboy, Always enjoy your smiling face. Grind it out!

Thanx TEX... Time for a rest! After a year staying home with Teresa...well I could...nah

Please show me any casino with a 5-10% tournament rake.

I too don't like the dealer add-on the way it is handled; but as far as structures, the WSOPC prelim events has the best structure for a travelin' player period. My understanding is Jimmy is responsible and I appreciate it.

They exist but this thread has been derailed enough.

Good luck Jimmy.

It looks like the link you posted to your sheet is down, and as a relatively neutral but curious person (I've played WSOP events but never any circuit events or any events people mentioned they were concerned about) I thought I'd double check your numbers and see how closely entrance fees, dealer tokes, etc line up with what is paid out.

And I don't know you at all, but it looks like you are well-liked, so best of luck post poker retirement.