UNITED STATES v. HUGHES PROPERTIES, INC.

No. 85-554.

476 U.S. 593 (1986)

UNITED STATES v. HUGHES PROPERTIES, INC.

Supreme Court of United States.

Decided June 3, 1986


Attorney(s) appearing for the Case

Albert G. Lauber, Jr., argued the cause for the United States. With him on the briefs were Solicitor General Fried, Acting Assistant Attorney General Olsen, Richard Farber, and William A. Whitledge.

O. Clayton Lilienstern argued the cause for respondent. With him on the brief was Denton N. Thomas.*


JUSTICE BLACKMUN delivered the opinion of the Court.

This case concerns the deductibility for federal income tax purposes, by a casino operator utilizing the accrual method of accounting, of amounts guaranteed for payment on "progressive" slot machines but not yet won by playing patrons.

I

A

There is no dispute as to the relevant facts; many of them are stipulated. Respondent Hughes Properties...

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