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GAO/GGD-96-148R 1 (1996-08-20)

handle is hein.gao/gaobaclgz0001 and id is 1 raw text is: United States GA () General Accounting Office Washington, D.C. 20548 General Government Division B-271663 August 20, 1996 The Honorable Bill Archer Chairman, Committee on Ways and Means House of Representatives Dear Mr. Chairman: As you requested, this letter presents our preliminary data analysis in response to your February 14, 1996, request for information on the Indian gaming industry. We agreed to provide you with a profile of the Indian gaming industry on the basis of information we have collected and analyzed to date, including (1) the number of tribes conducting gaming, (2) revenues from gaming facilities, and (3) revenues transferred to the tribes. As we agreed, our final report will include an analysis of the legal issues regarding taxation of Indian gaming revenues and additional information on financial statements not included in this preliminary analysis. To compile this profile, we reviewed documents provided by the Bureau of Indian Affairs (BIA) and the National Indian Gaming Commission (NIGC), and analyzed the most recently filed (1994 or 1995)1 audited financial statement of 110 Indian gaming facilities. RESULTS IN BRIEF Using NIGC data, we identified 177 tribes that operated 240 gaming facilities as of July 1996. On the basis of our analysis, we determined that the 85 tribes for which financial statements were filed as of May 7, 1996 had total gaming revenues (defined as dollars wagered minus payouts) of about $3.5 billion for 110 gaming facilities. However, of these 110 facilities, the 6 largest accounted for nearly 40 percent of the total gaming revenues. On the basis of our analysis of the financial statements, we determined that about $1.2 billion were transferred from gaming facilities to 74 of the 85 tribes. 'We used the most recently filed financial statement. If the 1995 financial statement had not been filed, we used the 1994 financial statement.

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