IGT introduces new sbX Taxable Accrual application print version

"sbX applications, including the new Taxable Accrual solution, are being developed by IGT to address a number of customer needs that drive operational efficiencies, build incremental revenue, increase player loyalty and establish competitive differentiation," said Eric Tom, chief operating officer for IGT. "These key areas will deliver a number of benefits to casino operators as well as players."

"The simple and fast sbX Taxable Accrual application helps to reduce operational costs as well as labor and machine downtime and, most important, lets the players continue to enjoy themselves. This app gives both operators and players an unprecedented level of control," continued Tom.

Currently a jackpot event needs to be recorded by hand and the proper tax forms need to be filled out and filed when players win jackpots worth more than the taxable threshold. This manual process is time consuming for both the player and the casino, as a casino staff person is needed to help complete the necessary forms and manage the paperwork.

With the sbX Taxable Accrual application, however, players can process their own jackpots through the intuitive interface of the Service Window. The Service Window is an innovative and interactive feature that consists of a special "window" located next to game screen that provides a menu of information when a player swipes his or her players club card.

When a player wins a large jackpot, the Taxable Accrual application automatically generates a message on the Service Window asking how the player would like to process the jackpot. Using the self-service button, the jackpot event is accurately reported for tax purposes with the touch of a few buttons. Once the player enters his or her players club card PIN number, the winnings are transferred to the credit meter on the machine and the player can return to playing in a matter of seconds.

For casino operators, the Taxable Accrual application is beneficial because the system tracks the taxable events and provides the ability to issue a Consolidated Tax form and an Accrual log that can be printed on demand. This Taxable Accrual application is currently installed at ARIA Hotel and Casino at City Center in Las Vegas.