I finally found a series of articles (including an interview conducted by Gene of Perlowski).

The article specifically states that the agreement applies only to Binion's. Perlowski does offer the opinion that other casinos should follow it, and that the government would be foolish to not apply the same rules in the future.

Yhe agreement only applies to the obligations of the conductor of the tournament, as I suspected the recipient still has an applicable tax burden under existing rules.

Interesting there were several articles and editorials addressing this issue. It also explains why I could not find a reference in the code, or case law.

Learn a little every day.

Can you tell my Judge is out of town, all but one Judge in the county are at meetings in Chicago-why am I here?