Gaming Corp talks about money laundering case

The Canadian gaming corporation acknowledged the money laundering case that revolves around the River Rock Casino in Richmond.

Canada.- The Great Canadian Gaming Corporation released a statement in which it says that it has an obligation to report unusual and big amount of cash transactions to the British Columbia Lottery Corporation (BCLC).

Rod Baker, CEO and president of the Great Canadian Gaming Corporation, said: “We are proud of our track record, and the positive and open working relationship we have with our regulatory authorities and crown partners.” The entity also said that the it takes care of regulatory issues that are beyond the obligations that it has and also undertakes investigative work on its own, even if it’s not obligated under the money laundering program.

“Contrary to suggestions in certain media reports, to our knowledge our company is not under investigation in any jurisdiction. Our employees followed all procedures required of them by BCLC and we do not believe our company’s actions would give cause to initiate an investigation,” added Baker.

A report released last month revealed that River Rock was predisposed to accepting single cash buy-ins of approximately US$400k from high roller VIP Asian clients that didn’t have a reliable source of funds. The gambling facility allegedly accepted US$13.5 million in $20 bills in just July of 2015, most of the money received at unusual times and dropped off outside the casino. The report was commissioned by British Columbia’s Gaming Policy Enforcement Branch, the government agency that oversees the operations of the British Columbia Lottery Corporation (BCLC), and that received complaints in the past for not bothering to check the money flowing through its gambling venues. “Law enforcement intelligence has indicated that this currency may be the direct proceeds of crime,” said the report.