About Reveal Gaming
Reveal Gaming is a free governance intelligence platform built by Tolair, Inc. We analyze publicly available data from state gaming commissions, federal regulators, and economic databases to surface governance gaps at U.S. casino properties.
Methodology
Signal Generation
Signals are generated by comparing each property's operational, financial, and compliance metrics against peer cohorts. Peer cohorts are constructed by matching properties on market geography, revenue tier, and property type (commercial vs. tribal). Deviations beyond statistically significant thresholds trigger governance signals with severity ratings from INFO to CRITICAL.
Benchmark Computation
Benchmarks are computed as P25, median, and P75 values within each peer cohort. Property values are compared against these distributions to identify areas where a casino falls below, meets, or exceeds peer performance. Dollar impact estimates are derived by multiplying the gap-to-median by the property's trailing twelve-month gross gaming revenue.
Governance Visibility Score (GVS)
The GVS is a composite score from 0 to 100 that aggregates signal severity and coverage across six governance domains: Regulatory Compliance, Financial Performance, Workforce & Labor, Internal Controls, Market Position, and Strategic Risk. Higher scores indicate fewer governance gaps and stronger visibility into operations.
Data Sources
Nevada Gaming Control Board (NGCB)
Monthly gross gaming revenue reports for all licensed Nevada properties.
NJ Division of Gaming Enforcement
Monthly revenue and operational data for Atlantic City properties.
PA Gaming Control Board
Monthly revenue data for Pennsylvania licensed casinos.
SEC Public Filings
10-K, 10-Q, and 8-K filings from publicly traded gaming operators, including risk factor disclosures and segment revenue.
Bureau of Labor Statistics (BLS)
Employment data, wage statistics, and turnover rates for the accommodation and gaming industry.
State Gaming Commission Reports
Regulatory actions, license renewals, violations, and enforcement data from additional state jurisdictions.
Update Schedule
Revenue Data
Updated monthly as state commissions publish reports.
SEC Filings
Ingested quarterly following 10-Q/10-K filing deadlines.
BLS Employment Data
Updated quarterly from QCEW and CES surveys.
Regulatory Actions
Monitored continuously; signals updated within 48 hours of publication.