British Columbia Casinos under Pressure to Limit the Wagers
Brick and mortar casino venues in British Columbia are under public pressure to prohibit high-limit casino table games in their facilities. According to the recent polls, the reason lies in the recent wave of money laundering scandals.
Global News released a report last week, detailing the results of a survey of 800 voters in British Columbia. The figures showed that 76% of participants were in favour of a thorough public inquiry into the number of money laundering scandals at land-based casinos operating under the jurisdiction of the British Columbia Lottery Corporation (BCLC).
Suspicious Activities of the foreign VIPs
The first details of the extent of the money laundering operations at BC casino were revealed in September last year when the new NDP government published a report that was ignored by the previous provincial authorities.
According to the said report, a number of high rollers from China used BC casino, especially the River Rock Casino Resort in Richmond for their activities.
Last month, C$75,000 worth of chips were confiscated from a Chinese high roller suspected of fraud in the United States.
The report revealed the full scale of the suspicious activities at casinos in British Columbia, including students and stay-at-home mothers earning millions of dollars on a regular basis, without any source of income whatsoever.
In addition to this, the report showed the previous government hadn’t wanted an investigation, putting an end to it even before it had started.
The affair resulted in new anti-money laundering regulative, which will limit gambling activities of high-rollers. And while nearly 70% of the participants in the Global News’ survey said they were in favour of a wager limit that would ban any bets of more than C$10,000, the government is not likely to introduce such a measure.
The reason is quite simple: such a move would cost the provincial administration a staggering C$88 million in revenue on a yearly basis.
The Entire Industry Is Being Reviewed
Last year, British Colombia tasked former senior police official Peter German with analysing the gambling industry in the province and recommend steps that need to be taken to improve the current situation. German’s recommendation will be additionally reviewed by the provincial attorney general David Eby. All these notes will be compiled into a report that is scheduled to be released in the next couple of weeks.
When it comes to the BLCL, the provincial crown corporation has been very busy lately. Recently, it signed a new agreement with SG Digital, a subsidiary of the American gaming giant Scientific Games. Under the provisions of this multi-year deal, SG Digital will provide BCLC with upgraded sportsbook solutions.
The two sides have been working together for almost a decade now. PlayNow.com, an online gambling website that is owned and operated by the BCLC has offered its customers Scientific Games’ OpenBet platform since it was launched back in 2010.
Under the new deal, the current online sports betting solutions will be completely updated, while the entire process is expected to be fully completed by the end of the year.