Casino receives top grade on recent audit

06.13.2024 Danielle Harrison Spirit Mountain Casino


By Danielle Harrison

Smoke Signals editor

Spirit Mountain Casino was awarded an A+ grade for a recent external audit conducted by Las Vegas-based REDW LLC. The company performs audits for approximately 170 casinos nationwide, both Tribal and commercial.

“Their comprehensive evaluation was presented to the Spirit Mountain Gaming Inc. Board of Directors and the Tribal Council, and I am delighted to report that the audit was exemplary with no material or significant findings," Spirit Mountain Casino CEO Camille Mercier said.

SMGI Board Chair Andy Jenness gave credit to the casino’s executive team and staff for their efforts.

“This report is a testament to the executive team and all of our staff at the casino,” he said. “Their professionalism and business acumen continue to serve our Tribal members well with a clean, tight ship in Spirit Mountain Casino. I applaud them.”

REDW Principal for Audit and Assurance Adam Smith said that in general terms, a casino audit includes examining and reviewing various documents and processes, and is governed by multiple regulatory and professional authorities.

“Specifically, for Spirit Mountain Casino, we began by reviewing written policies and procedures followed by observing personnel to confirm adherence with specific procedures to gauge the casinos compliance with best practices for the gaming industry,” he said.

That work began in October 2023. During February through April 2024, the company confirmed that the casino’s financial statements fairly represented its financial status during 2023.

“This included reviewing cash activity, purchases, amounts owed at year-end, win/hold percentages of gaming machines and table games, employee and insurance costs,” Smith said.

The firm performed the casino’s 2022 audit as well, and also conducts the audits for other Tribal casinos in Oregon and throughout the United States, he added.

To receive an A+ rating, a casino must be compliant with policies and procedures, show a commitment to best practices and make a concerted effort to comply with various regulations.

“This regulatory adherence culture is really a reflection on both the Tribal Gaming Commission and casino management working together to promote a safe gaming environment, safeguarding Tribal investments and striving to provide the best foundation for growth,” Smith said.

He noted that most casinos the size of Spirit Mountain are generally in the B range for audit grades based on his experience performing casino audits in nearly every state in the country.

“The difference between those facilities we consider top tier to average, is the adherence to best practices, a culture among team members that promotes opportunities, and a general best effort to advance the Tribe’s investments to benefit future generations,” Smith said. “These efforts just don’t materialize overnight and take continual effort from management, gaming commissions, board members and Tribal officials.” 

Mercier said that audit reflects the casino’s commitment to excellence.

“This A+ rating not only validates our rigorous internal controls but also positions us as a leading example in the industry,” she said.