High rollers carrying wads of cash but with no reported source of funds were gambling at the Hard Rock Casino Vancouver until a crackdown earlier this year stemmed the flow of suspicious cash, according to documents obtained by The Tri-City News through a freedom of information request.
The Coquitlam casino accepted $2.5 million in cash transactions over $10,000 from gambling patrons between 2016 and 2017.
But once tougher reporting rules were put in place in January 2018, gamblers with cash were turned away if they couldn’t provide bank receipts documenting the source of their money.
Compared to River Rock casino in Richmond, where $13.5 million in cash was accepted in a single month in 2015, the number of large cash transactions at the Coquitlam casino have been relatively small.
Still, the Hard Rock had its share of gamblers who spent big money in 2016/’17, most of the cash from unknown sources.
The information was contained in reports to the Gaming Policy and Enforcement Branch Compliance Division (GPEB), which requires that casinos report suspicious financial transaction. The FOI documents obtained by The Tri-City News covered a period between January 2015 and May 2018. Some $57,000 in suspicious cash transactions was recorded in 2015, with amounts ramping up to $1.48 million in 2016 and dropping to $1.051 million in ’17.
On Jan. 7, 2016, for example, someone made a cash buy-in to play at a high-limit table with $70,020 in $20 bills and later topped that up with with a further $2,000 in $20 bills.
Other patrons brought in large cash stakes but their occupations didn’t match the size of their wallets while still others brought in stacks of $100 bills, as one gambler did with a $43,500 stake, betting every cent and losing it all, according to the document required as a way to keep track of cash flowing through B.C. casinos.
The largest buy-in, according to the reports, appears to be an $81,000 cash transaction in the high-limit room, with funds handed over in $100 bills.
Accompanying reports have also not been included in the information, and there are no indications police were called in to deal with any of these large cash transitions. It is not known, therefore, whether the high-rollers obtained the funds legally or were working for someone.
But the GPEB reports shed light on the size of the stakes made by gamblers. For example, on Oct. 23, 2016, an individual tried to buy in with $65,000 in $100 bills but that amount “did not match their occupation.”
Sometimes, staff stepped in and refused to let someone play, such as in the case of someone who on Dec. 12, 2016 bought in with $5,000 in $20 bills attempted to cash out without playing — they were approached by security and their original stake was paid back in $20 bills.
According to documents filed to GPEB, there were five incidents where individuals attempted to cash out with minimal or no play, and a case of suspected money laundering was identified at a slot machine.
BC Lottery Corp. (BCLC) said patrons making cash transactions have to produce valid ID and provide details of their residence and occupation, information that is passed on to Fintrac, the Financial Transactions and Reports Analysis Centre of Canada, which assists in the detection, prevention and deterrence of money laundering and the financing of terrorist activities.
Casinos also have to produce reports on cash transactions over $10,000 for Fintrac and the BCLC has an anti-money laundering department to conduct background checks on patrons.
In a statement, a BCLC spokesperson noted that staff watch for patrons who attempt to cash out with little or no play. “BCLC’s policy is anyone attempting to receive a cheque with no or minimal play is refused a cheque and their cash is returned in the same denominations."
Since January, 53 gamblers have been turned away from the Hard Rock for not producing a bank receipt.
