Value of merchandise prizes
Compiled text through Sep 15, 2021
Register checked through Jul 29, 2026
No later Register activity identified in this check.
Dates and status
- Compiling agency
- Executive Department
- Text status
- Source receipt
- Compiled text through
- Sep 15, 2021
- Register checked through
- July 29, 2026/Vol. XLVIII, Issue 30 (2026-07-29)
- Activity status
- No later Register activity identified in this check.
- Source snapshot
- Jun 6, 2026
When any merchandise prize is awarded in games of chance, its value shall be its cost to the licensee or, if donated, its current market value. The current market value of merchandise prizes donated to the licensee shall not be reported as an expenditure in the financial statement of games of chance, bell jar or raffle operations (forms GC-7, GC-7Q and GC-7R), and shall not be deducted on the cash control report form (GC-7B). No merchandise prize shall be redeemable or convertible into cash directly or indirectly by the licensee. No alcoholic beverage shall be offered or given as a prize in any game of chance.