Retail Gaming licensees are affected by new regulations that were recently put in to place; more specifically The Colorado Department of Revenue has implemented new rules regarding gaming taxes. The new policies require retail gaming licensees to acquire a surety bond in a quantity that the Gaming Commission is yet to establish. The surety bond guarantees that the gaming taxes will be paid. The bond must be from a state licensed surety company and it must have a paid-in capitalization of at least $500,000. As an alternative to the surety bond, cash deposits in the form of an assigned savings account or deposits in a state or national bank will be accepted in place of the bond.
Eric is the Chief Marketing Officer of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog. He has held a range of different roles within the surety industry, from agent assistant to bond issuer, which gives him a unique insider perspective on surety related topics.