issuer accounting

Broad Transactions1

1. 815-924Entertainment—Casinos815 Derivatives and Hedging

   This Subtopic applies the derivatives and hedging guidance of Topic 815 to casinos and to the casino operations of other entities. Its single substantive rule is a scope-out: fixed-odds wagering contracts — bets where the odds of winning are known or knowable when placed (e.g., certain sports and race wagers) — are not accounted for as derivatives by the casino that issues them. Instead, the casino treats them as revenue transactions under Topic 606.