It’s never easy for any business to admit that it could use some outside help.
However, as casinos morph into multi-function gaming resorts hosting diverse offerings beneath a single roof, it has become increasingly unrealistic to expect in-house leadership teams to be nuanced in all business aspects of the enterprise, especially at small- and mid-sized operations. Indeed, a staff that is expert in managing casino operations may have some difficulties mastering the subtleties of, say, booking live entertainment, running a restaurant or marketing an online social gaming site.
Fortunately for casino operators, there are a wide variety of consultants ready and willing to offer money- and time-saving advice, services and even software products for almost any facet of the modern gaming business. Joseph Eve is named as one of the larger management consultancies that have made gaming news in 2016 and bear watching in the future, as determined by the editors of Casino Journal.
Founded in 1983, Montana-based JOSEPH EVE, CPAs is a team of more than 60 certified public accountants, certified fraud examiners and experienced team members providing a wide range of services for clients in more than 28 states. The firm’s services include external and internal audit, financial management software, Title 31/AML assessments, finance process optimization, accounting assistance, fraud investigations and controller/CFO advisory services. Additionally, the company consults on information technology, PCI compliance, accounting system implementation, tax services, business advisory and conducts national seminars.
It has been a very busy 2016 for JOSEPH EVE. Early in the year, the firm won a contract to conduct external auditing services for Casino Pauma in Southern California. It also has expanded its accounting services to the Pawnee Development Corporation of Oklahoma and its three casinos—StoneWolf Casino & Grill, Tee Pee Casino, and Trading Post Casino. More recently, JOSEPH EVE secured a major contract to conduct a Title 31 risk assessment for a four-site casino operator in Oklahoma.
“As commercial and tribal gaming continues to grow, so does the frequency with which the operations are targeted by criminals for money laundering,” Glen Galt, senior gaming manager for JOSEPH EVE, said in a press release. “The criminals’ diligence must be exceeded by the casino’s diligence in adhering to Title 31 requirements and shoring up their defenses against nefarious activities. A Title 31 Risk Assessment is a positive step in the right direction.”
JOSEPH EVE has also had a rather successful year on the product front, which included acquiring the online “NWJE University Title 31 Course” from Everi, essentially creating a single source for the operation and management of client online learning needs.
Along with the purchase came the decision to rebrand the online training to JE University and serve as the single source for content creation, operation and account management for the training site.
The firm’s cloud-based financial management system, CasinoEdge powered by Intacct, has had some notable hits of late, including installation at the Three Affiliated Tribes (MNA Nation) enterprises in North Dakota. According to the company’s website, Three Affiliated Tribes’ will use the innovative and cloud-based Intacct system, which includes accounting, cash management, purchasing, human resource management, payroll management, vendor management, financial consolidation, revenue recognition, project accounting, fund accounting, inventory management, and financial reporting applications.
“We are very pleased to have earned the trust of the Three Affiliate Tribes and to be implementing our Intacct solution and other services across the Nation’s entire enterprise,” said Joseph Eve, founder and managing partner of JOSEPH EVE. “Many tribal organizations and the entities they own use accounting software that was created in the pre-internet era. The Intacct solution was specifically created to today’s business environment and needs, and as such, it streamlines processes, increases efficiencies and eliminates wasteful spending.”