This time it was the Fallsview Casino who lost this gamble to the tune of $70,000

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It turns out the house doesn’t always win. 

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In fact, for this gamble, Fallsview Casino Resort in Niagara Falls has so far lost $70,000 and got a biting rebuke from the province’s gaming watchdog, too. 

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“The Registrar of the Alcohol and Gaming Commission of Ontario (AGCO) has issued an Order of Monetary Penalty, totalling $70,000, to MGE Niagara Entertainment Inc., the registered operator of Fallsview Casino Resort in Niagara Falls, Ont., for failing to meet requirements in place to minimize the risk of unlawful activity, including money laundering, at the gaming site.” 

Ouch! 

Talk about a losing hand. But this story gets even stranger. 

“In April 2023, a patron attended the Salon Prive at the Fallsview Casino Resort and presented $80,000 in strapped $100 bills from a reusable grocery bag,” the gaming regulator said in a news release. “Surveillance showed that once the money was counted and confirmed, the patron left the table with casino chips without playing at that time.” 

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This was allegedly a major jackpot for a player who didn’t play but got the chips and walked away. And now the casino is in a jackpot of their own. 

“Despite having previously identified the player as ‘high risk,’ the casino failed to notify the AGCO and on-site police of this transaction as required,” said the release. “The casino operator also failed to take any meaningful steps to ascertain and corroborate the patron’s source of funds, as is required by anti-money laundering rules set out in the Registrar’s Standards for Gaming.” 

This not the first time accusations of impropriety have surfaced at a Canadian casino.

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In April, charges were laid against five people, following allegations that a table games dealer was colluding with patrons at Woodbine casino. And this summer, a games dealer at Pickering casino was one of four people charged in an alleged cheating scheme.

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Now it’s Fallsview Casino Resort that has come under scrutiny.

Earlier this month, as reported by the CBC, Fintrac (Financial Transactions and Reports Analysis Centre of Canada) said “online gambling sites offer prospective money launderers opportunities to conceal the source of their funds by using multiple different deposit and withdrawal methods.” 

And CTV reported “billions of dollars” are laundered through B.C. casinos. 

Sometimes they catch them; sometimes they don’t.

Karin Schnarr, CEO and registrar of AGCO, said the regulator is “committed to protecting the public interest and public safety and remains vigilant in its efforts to guard against potential money laundering at Ontario’s gaming sites. Casino operators are important front-line partners in this effort, and the AGCO holds all operators to rigorous standards when it comes to the prevention of unlawful activity.” 

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Other than that, things remain murky on just what went on here? There does not appear to be a police investigation, and there have been no allegations that someone within the casino was involved.

But the biggest mystery is what happened to the person who allegedly had all those chips?

Fallsview rejects the premise of what they have been fined for and plans to fight the ruling. 

“We have reviewed the AGCO’s decision and respectfully disagree with it. Fallsview Casino Resort is a company devoted to compliance and good citizenship,” it said in a news release, adding “we will be appealing the decision and look forward to presenting our case.” 

The casino refused further comment, but insisted that “as a responsible gaming operator, Fallsview Casino Resort is dedicated to identifying and preventing unlawful activities” and they have “a culture and history of integrity and transparency, and a longstanding commitment to compliance in Ontario.” 

Sounds like they may have lost this wager, though. In the meantime, someone out there allegedly has $80,000 worth of chips to cash. 

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