### Question
How does the law define net revenues?


### Answer
Under *25 U.S.C. § 2703*, **net revenues** is defined as:

> gross revenues of an Indian gaming activity less amounts paid out as, or paid for, prizes and total operating expenses, excluding management fees

#### Citation:
  - *25 U.S.C. § 2703*
  - Heading: **CHAPTER 29-INDIAN GAMING REGULATION**

