BC Casinos facing prospect of $10k Wager Cap

The land-based casinos located in Canada’s British Columbia are experiencing pressure from the people to restrict offering table games with high-limit. This push comes in the wake of several casino-based money laundering sagas. Reports indicate a majority of residents want public inquiry in major money laundering scandals that took place in those physical casinos licensed with British Columbia Lottery Corporation.

In September 2017, The NDP government of this province came up with a report which was allegedly suppressed by the Liberal government preceding it. The document offered insight into the activities of VIP players of China using BC casinos (Including Richmond’s River Rock Casino Resort) to perform doubtful money laundering activities.

An incessant stream of headlines was created by this report. It was hard to believe how so many students as well as stay-at-home mothers were earning millions through cash buy-ins at the BC casinos. They did not have proven sources of income. The Liberals had actually shut down the gambling investigation authority when it tried to probe into these activities.

These developments led to deployment of revised anti-money laundering rules for limiting VIPs’ gambling activities. However, the gaming tables with high wager limits are to be blamed. The govt of the province calculated deploying $10,000 cap on casino table games can lead to a significant annual revenue loss- close to CA$88 million.

Last year, Peter German, a former senior policeman was assigned with the task of reviewing the province’s gambling industry. David Eby, the attorney general is now reviewing his suggestions. Soon enough, an official report will be published.

The BCLC has opted for a multi-year agreement with Scientific Games subsidiary- SG Digital. This is meant for widening online betting platforms. The updates will be put into effect by the end of this year- as per the sources.

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