Iowa casinos don’t want their audits to be made in public

By | December 17, 2016

Iowa casinos don’t want their audits to be made in publicIowa casinos including Isle Casino hotel waterloo, Sioux City’s Hard Rock Casino and many others don’t want their audited data to be made in public. This action of the casinos intended that all their audits should be confidential to block any credential information to their competitors, the executive director of Iowa Gaming Association said.

Nineteen state regulated casinos are currently in operation in Iowa and out of nineteen casinos, sixteen have joined hands to challenge a lawsuit filed by a development executive, who runs three casinos in Michigan and requested financial documents.

Sixteen casinos are against any such proposal and are challenging the fact with another lawsuit in the court.

Wes Ehrecke, the president of Iowa Gaming Association said that tribal casinos are regulated with state agreements, and are not regulated in Iowa.

Ehrecke said that ‘all the data related to Iowa casino should be kept confidential and audits should not be publicly released”. The report has almost everything, they have trade secrets and other important information and hence shouldn’t be public, he added.

Different Iowa’s casinos paid over $312 million in gambling tax last year and also contributed more than $40 Billion to different charities, Ehrecke said.

Adding to his words Ehrecke said that we don’t have a problem if our data is to be given to the regularities, and we also don’t have a problem if our information is shared by our local partners, but it shouldn’t be given to our competitors.