British Columbia’s table revenue drops 7.8 pct

Recent British Columbia Lottery Corporation’s report showed table games revenue dropped 7.8% in the 12 months to March 31.

Canada.- The British Columbia Lottery Corporation (BCLC) released its latest annual report on Friday. Most noteworthy, figures for the 12 months to March 31 showed an impact from the tightened anti-money laundering (AML) policies. 

Even as total revenue was up 3.5% to €1.76 billion, British Columbia’s table games revenue fell 7.8%. Total money raised from the tables barely reached €309 million.

The money laundering struggle

The BCLC announced in October that it has hired a third-party auditor to monitor British Columbia’s three busiest casinos. The appointment came after a report emerged earlier that year indicating that money was being laundered through some local casinos.

BCLC said in a statement that the move is set to support compliance with BCLC’s Source of Funds declaration requirements. The three casinos that will count with additional monitoring are the River Rock Casino Resort, the Grand Villa Casino and Parq Vancouver.

“BCLC is taking action to ensure that its Casino Service Providers are completely and accurately recording information regarding the source of players’ funds as part of its commitment to the prevention of money-laundering activities in B.C. casinos,” reads an email from BCLC sent to NEWS 1130.

Recent resignation

The regulator’s vice-president of corporate compliance Robert Kroeker stepped down this month after allegations that he instructed his staff to “ease up” on anti-money-laundering measures. He supposedly “allow dirty money to flow into casinos,” and left BCLC after such accusations.

“We will be investigating,” Sam MacLeod, assistant deputy minister responsible for B.C. gambling, said.

A complaint on Kroeker states: “I have information that Robert Kroeker. He instructed (his staff) to ease up on the BCLC cash conditions on players and slow down the process of targeting suspicious buy-ins.”