Collection of Markers

July 4th, 2008

Jun 27, 2008- The tax officials are too much concerned for the collection of markers, which are not repaid by the Nevada casino gamblers, which is considered as largest debt of gambling in years.

It is an added woe for them other than not been able to collect the gaming tax on $166 million.

The major concern is not the big amount of debt that is there but the fact that they are not able to collect it.

Usually the percentage of outstanding markers the casinos are able to collect is between 95% to 97%.

Dennis Neilander, who is a Gaming Control Board Chairman, said that- Gamblers normally tend to repay the markers generated over the holiday when they return to Las Vegas. He added that the Economic recession is also responsible for this.

The state is taking the debts seriously and if they start following the law then the debtors can go to jail for not paying it.

The estimated fall in the collection of the tax is calculated by the state’s Economic Forum by 4.2% in the fiscal year 2008 and is expected to increase by 2% in the following fiscal year.

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