Press Releases
British Columbia at risk of loosing money on money laundering crackdown

The British Columbia Lottery Corporation, the Canadian crown corporation which offers a range of gambling products commissioned a report from HLT Advisory Inc which revealed that the crackdown on money laundering casinos in the provinces would take around €29 million from the BC’s annual budget.
As per the evaluations in the report a ban on “high limit” table gambling in which cash buy-ins exceed €6,000 would be disastrous for gaming revenues, causing a deterioration of up to €18.6 million in revenues. Moreover, it emphasises that it would drive away big gamblers but merely get the rest of them to bet one dollar below the limit. Meanwhile, B.C.’s share of gambling revenue through the BCLC would be at the risk of losing an amount between €11.5 million and €29.3 million.
The BCLC is also anticipating the results of another report issued to former high-ranking Mountie Peter German, who will deliver his own results before the end of this month.
Money laundering took the spotlight in British Columbia after a report commissioned by the former BC Liberal government in 2016 (released last year) which found irregularities at Richmond’s River Rock Casino, including the acceptance of single cash buy-ins in excess of €310,000. It also detailed that the majority of the large cash transactions flowing through the casino were from “high roller Asian VIP clients.”
-
Africa5 days ago
New Governing Board of the Gaming Commission of Ghana Sworn in
-
Africa7 days ago
SA Rugby Renews its Partnership with Betway
-
Asia7 days ago
Polemos Announces Partnership with Guinevere Capital
-
Asia7 days ago
WiseGaming strikes content partnership with Zenith Gaming
-
Africa6 days ago
BetKing Delivers Healthcare Services and Nutrition Support to Underserved Nigerian Communities
-
Compliance Updates7 days ago
ONJN Requests Meta and Google to Remove Illegal Gambling Ads
-
Asia6 days ago
QTech Games strengthens its elite suite with Bigpot Gaming
-
Industry News6 days ago
REGISTRATION NOW OPEN FOR GLOBAL GAMING EXPO 2025