BCLC could lose $18M to $47M in income each year due to anti-laundering measures: report
Posted March 16, 2018 8:36 am.
Last Updated March 16, 2018 9:08 am.
This article is more than 5 years old.
VANCOUVER (NEWS 1130) – The BC Lottery Corporation stands to lose between $18 million and $47 million in income each year.
That’s the finding of a new advisory report (below) just released by the provincial government that delves into how much BC should prepare to lose, as the NDP bans large transactions by VIP gamblers in casinos.
But the latest budget only includes a $30-million projection for losses.
Attorney General David Eby says a mid-range figure was chosen, adding “It’s hard to put a price on our international reputation, but it’s a cost British Columbians should know our government is prepared to pay for.”
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The province says the report was commissioned shortly after Peter German was appointed to conduct an independent review of anti-money laundering policies and practices in BC casinos.
“A cash restriction is one of the options available to Dr. German to recommend, and there are many others,” says Eby. “Regardless of how Dr. German recommends we move forward, there will be a fiscal impact of getting the proceeds of organized crime out of casinos.
