Great Canadian Gaming Issues a Statement About Money Laundering Allegations

Great Canadian Gaming is the company that owns the Rivers Rock Casino Resort that has been in the news lately. The casino resort has been reported be involved in money laundering. For a while, after the 2016 report was released, the company was mum about the allegations. However, on Monday they broke the silenced and finally released a statement.

According to Rod Baker, Great Canadian Gaming CEO, the company is not aware of an investigation happening at the Rivers Rock Casino Resort. He also mentioned that the British Colombia Lottery Corporation (BCLC) has a responsibility to review any unusual cash transactions that happen at local casinos. The BCLC can also assess whether those transactions are of concern enough to be reported to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

great canadian gaming responds to money laundering allegations

Meeting Between the Great Canadian Gaming and BCLC

In new developments, that were reported by the Vancouver Sun, the Great Canadian Gaming executives met with BCLC regarding the money laundering case. Their conversation revolved around the reported purchasing of chips amounting to C$645 000 by a VIP player. The money used to make the purchase was not declared by the player.

The article goes on to say that there is also C$5 000 worth of chips that have gone missing. They were purchased from the Rives Rock Casino Resorts. This was also included in the conversations that the two parties had. The key player in the missing chips case is under investigation by the Royal Canadian Mounted Police of money laundering.

IIGET Connection to the Money Laundering Case

The Illegal Gaming Enforcement Team (IIGET) was responsible for investigating overseeing gaming activity in the province. However, the team was shut down in 2009 by the previous Liberal government. In 2016, a new team was introduced and was named the Joint Illegal Gaming Investigation Team. The team would be responsible for preventing money laundering and gang activities in British Columbia casinos.

The Vancouver Sun also published an article stating that the IIGET was dissolved because of vital funding difficulties. The funding pressure was on the BCLC’s budget. Before the resolving of the team, they wanted to broaden their scope tin include investigating money laundering cases at local casinos. The reason was that the police had no resources to investigate unusual transactions. Hence the 2016 report came into being. It reported that Rivers Rock Casino Resort was responsible for almost 60% of the cases of money laundering in the province.

There will be further developments in this case, and we will keep Canadian casino players updated.