BCLC Seeks Experienced Partner for Anti-Money Laundering Monitoring System

British Columbia seeks a money laundering solution that could actually change the landscape in the province and restore people’s trust in the system. British Columbia Lottery Corporation is willing to take matters into its own hands and look for the most determined partner that would come with an anti-money laundering solution. A pre-qualification is available online at the moment and the levels of interest are projected to be high.
At this point, money laundering is associated with British Columbia’s gambling field and especially so with the Lower Mainland casino venues that have been among the preferred ones for high roller casino players and foreigners. Often times in the past they have been joined by younger males with bags of cash, who are the so-called loan sharks supplying them with casino buy-in and constant cash refuel. Battling this practice has become increasingly hard, evident by the most recent pieces of information revealed in Dr. Peter German’s second report on cash washing.
Casino Money Laundering Continues
The partially released report points out that over the span of the past 12 months solely, some CA$7.4 billion has been washed through the province, including fields to the likes of gambling and the real estate field. In this situation, the gaming field managed to wash about CA$2 billion, but this is still considered being a substantial amount.
BCLC realizes that the existing tools for battling the illegal practice are outdated and incapable of handling the task in an adequate manner. In the past, about CA$7.3 million was spent on the existing solution, which was condemned by Dr. German as an ineffective one. A US-based company offered one that has previously been used in financial institutions.
In this sense, it failed to meet the expectations and requirements, meaning that existing approaches were utilized once again. Dr. German said that the approach should be changed in general with a brand new contractor, instead of investing more of voters’ money in the ineffective solution. The new solution that should replace it has to offer a modern approach.
New Solution Could Come Soon
Anyone interested in applying for the responsible position that would aim to transform the field could do this online. Among the future responsibilities of this solution would be keeping a close eye on online gambling, Patron Gaming Fund accounts, Source of Funds reporting as well as continuous monitoring of certain customers and their transactions.
Contractors applying online would have to prove that they are worthy for the position by demonstrating that their system has been applied in a casino field. Listing Canada-based locations that have already benefitted from it would also be a positive boost in the right direction for the proponents. Once it is greenlighted, the system would have to cover both online and brick-and-mortar casino venues in British Columbia. They will have until May 24 to apply for the position.
Meanwhile, public inquiry becomes an increasingly popular topic across the province. Even though Great Canadian Gaming Corporation and Gateway Casinos & Entertainment are leaders in the field, the public inquiry step could lead to a potential government takeover of casino operation. Upcoming weeks are set to see development on the topic and money laundering system bidders.

Pennsylvania House Leader Warns State’s Budget May Remain in Deficit for Longer

On Thursday, 10th August, House Leader Dave Reed expressed concerns on the behalf of the Republicans that Pennsylvania may stay in the big budget gap for some more weeks, pointing out that the Senate’s proposed budget bill includes unreasonable increase of some utiliy taxes.
On 30th June, the state’s lawmakers finally passed a $32 billion budget-plan, but they could not agree on proper ways to fund it. It is not a secret that for some time Pennsylvania is suffering one of the biggest budget deficiencies. According to specialists, the state’s financial situation has never been that bad since the recession.
The lawmakers found some sources of additional revenues to fund the budget plan, but the House and the Senate could not reach a decision regarding certain topics like gambling. Thus, the two chambers remained stuck in the financial gap, trying to compromise on certain issues. Almost 2 months later, the lawmakers still do not have a particular plan, which places the state on the edge of an economic crisis.
But what seems to bother Mr. Reed is the rise of the taxes. He told that the amount of money, which the local government will reap from the higher taxes is just the same as from the taxes generated by video-gaming terminals (VGTs). House Democrats consider that the increase of the taxes is a sufficient measure to cope with the situation.
In fact, namely VGTs became the Apple of Discord between the two chambers. The House passed a gaming bill, which allows VGTs to be installed in liquor establishments. The idea was supported as an additional source of income for the local government. The Senate, on the other hand, opposed the idea, placing their concerns that the video betting machines may “steal” the customers of the land-based casinos, which finally managed to emerge on the surface. What is more is that the already established brick-and-mortar is a steady and sure income for the treasury.
The lack of a realistic and efficient solution may have very bad consequences for Pennsylvania. Mr. Reed placed hopes that the lawmakers will find the most appropriate solution for funding the budget plan by the end of August, as any more delays can sharply deteriorate the situation of the state. While the lawmakers are trying to find a consensus and come up with a plan of action, the legalization of the online gambling industry seems to be even a more lucrative perspective with every passing day.
It was reported that the next legislative session is set to take place on 11th September, but the legislators remain on standby due to the delicate situation.

North Bay Council Openly Demonstrates Casino Venue Would Be Generous to Community Organizations

North Bay is preparing for the future construction of a casino venue, but in the months leading to the official information issuing the City Council prepares with essential motions. At the most recent Council meeting Councilors Tanya Vrebosch and Johanne Brousseau introduced a motion that prompts a report on how community organizations could benefit from a casino venue operation through regular allocations.
In the foreseeable future Gateway Casinos and Entertainment is expected to work on its casino proposal and reveal more around the exact location where it is going to build its North Bay gambling venue. There have been discussions throughout the last few months, but for the time being, only previously mentioned parcels of land have been mentioned, without anything set in stone. Even though the community has not been that welcoming towards the idea of a new casino venue, now Council members are willing to warm them up to the idea with community organizations allocations.
Community Organizations Set to Benefit from Casino Revenue
With the help of this new motion, the Chief Administrative Officer will have the task to take care of a special report that will evaluate the possible allocations. Gaming revenue generated by the casino venue will be able to support various community projects and community organizations are projected to benefit from it as well. Projections show that the City could receive up to CA$2 million a year. Moreover, the report will also aim to clarify the criteria for qualifying for those regular allocations.
Councilors Vrebosch and Brousseau expect this report to be of great use in the upcoming several months, as this is a pivotal point of the entire project. Once all i’s are dotted and all t’s crossed, a committee is going to review it and take into account the information listed in it. At the moment there are many questions and details yet to be revealed when it comes to the casino operation in North Bay, but there is something the community should be aware of – the City Council wants to support North Bay organizations.
Bingo is one of the ways in which local charitable organizations continue existing, as the association is able to allocate around CA$1.2 million per year to some 60 local organizations. A new gaming venue might affect existing charitable bingo operation in North Bay and this has been among the main points expressed by the opposition of the casino venue. For the time being, Council members state they cannot make any estimations, as the construction has not even commenced. The only way they can reassure people is through this recent motion for a report.
Endangered Turtles Also Made their Way in the Conversation
In addition to this, the adopted motion also mandates that individuals experiencing gambling addiction would also receive adequate help and support in order to overcome their unhealthy interest in gambling. Prevention is also an essential part of battling the serious issue. At the moment there is no information on the number of people currently struggling with problem gambling which is why the board prompted baseline research that would shed more light.
It could be recalled that last year Hec Lavigne, Mayor of Callander indicated that once the casino venue launches operation neighboring communities should also have the opportunity to benefit from its operation. This could be possible with the help of a revenue-sharing arrangement that will include neighboring communities in addition to North Bay. At the City Council meeting, members also looked through claims that proposed Pinewood Park Drive construction will negatively affect the protected Blanding’s turtles natural habitat.
Save the Turtle, Stop the Casino is the group that raised awareness on this issue during last week’s meeting. However, Mrs. Brousseau pointed out that while the endangered species act was already in effect the area saw sports fields construction. In the last week, other possible locations have been discussed and they are the Steve Omischl Sports Complex, West Ferris arena, and Memorial Gardens. The casino operator has not yet pinpointed an exact location of future casino operation.
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The 13 Holdings Might Postpone New Casino Launch for 2018

Union Gaming Securities Asia Ltd. announced in a note that the launch of the long-awaited hotel project The 13 might be postponed. The Macau located venue which allegedly is going to have a casino on its premises as well is expected to open to the public at the beginning of 2018.
Grant Govertsen, an investment analyst said that this delay in the launching is because of the time it might take to start anew the effectively stalled project. The hotel is located on the border of the Cotai and Coloane districts in Macau and it suffered some delays in the process of construction. The 13 Holdings filed an interim report in December, according to which the development of the property was on track and it was expected to open for business in the first quarter of 2017. Later in March, the company announced the opening date for the property would be announced later in the year.
According to Govertsen, the promoter of the scheme, The 13 Holding announced its annual results what amounts to further delays with respect to the company’s casino project opening in Macau. In the results, the company has shown evidence that as of the 31st of March its current liabilities exceed its assets by HK$300.9 million (US$38.5 million). Moreover, the holding had contracted a total amount of HK$369 million in capital commitments which are not provided for in the consolidated results.
In a previous statement, The 13 Holdings had said that in order to build a single room, the company should pay more than US$7 million in average. In order to finish the construction of all of the rooms in the property more than US$1.4 billion should be spent. The project description of The 13 says it is going to be an all-villa hotel with a total of 200 accommodation units. Union Gaming also added that the annual results showed that there is a funding gap present in the project, which is yet to be resolved so that the construction can continue.
The group also added that the liquidity of the group needs to be improved and its directors were negotiating to do so. According to them, they will have enough working capital to fund the operation and keep the project active. The firm also added that some of the potential improvements which could be done in this situation are to look for new sources of financing in the form of debt or equity. As of this moment, the amount of funding needed is not disclosed by the holding, but Union Gaming suggests it can be very expensive in the case of debt.