Great Canadian Responds to Alleged Money-Laundering Involvement
Great Canadian Gaming Corporation has finally responded to the alleged involvement in the money laundering scandal at its Vancouver-based River Rock Casino Resort.
Over the past month, media suggested this facility failed to uphold the anti-money laundering policy, while the reports were based on a government report neglected by the previous provincial administration.
The reports accused River Rock Casino Resort of accepting chip purchases worth millions of dollars from Chinese high rollers.
Vancouver Sun reported last week that the executives of Great Canadian had met with the representatives of the provincial gambling regulator, the British Columbia Lottery Corporation (BCLC), back in 2014 in regards to a suspicious chip purchase.
The meeting revealed several irregularities in River Rock, including a large number of missing $5,000 chips.
According to the Sun, the BCLC wanted to react swiftly, but River Rock executives preferred to handle the matter themselves. The report indicates that River Rock handled around 80% of all shady buy-ins during 2015.
Response to Allegations
Great Canadian Chief Executive Officer Rod Baker responded to the media report, stating the company is not under investigation at present time.
He also insisted that Great Canadian employees had followed all required procedures and that recent lawsuits against private lenders had been possible due to the full cooperation with the authorities.
One thing is certain, though. The investigation is far from being over, and we can expect more negative media attention for British Columbia gambling industry, which will likely to intensify discussion on whether BCLC should act as both operator and regulator in the province.
Founded in 1982, Great Canadian Gaming Corporation is Canada’s leading entertainment provider that operates a total 22 gaming facilities, including 14 casinos in British Columbia, Ontario, New Brunswick, Nova Scotia, and the state of Washington in the United States.