When predatory gambling interests come to your town or city, they falsely promise new jobs, revenue, and overall economic prosperity. However, the story below highlights the dark side of the industry. Beyond the glitz and glamor of Atlantic City’s multi-million dollar casinos, hundreds of homeless people are on the street with no place to go.
Focus
Casinos Profit From Under-Reporting Money Laundering
A CBC News investigation revealed suspected money laundering at the B.C. province’s casinos goes under-reported. “They say they’re being as vigilant as they can, but the conflict of interest is there because these people are flashing the money and ultimately the casino makes money. In a further conflict, provincial governments are both the benefactors and the regulators of casinos.”
Money Laundering in Las Vegas
Despite stricter sanctions that have eliminated some of the criminal activities in Las Vegas, money laundering still persists. According to one IRS agent in Las Vegas: “In a currency intensive industry it’s virtually impossible to eliminate entry points for money laundering. We work hand-in-hand with the casinos.”
Money Laundering is Profitable with Australia’s Poker Machines
Professional money launderers have turned poker machines in Australia’s hotels, clubs and pubs into a profitable source. Hotel industry sources have estimated that $2 billion is laundered annually in Australia.
Money Laundering is Profitable with Australia’s Poker Machines
Poker Bots and Cheaters Make Online Gambling Even More Predatory
In the summer of 2010, one the world’s leading online predatory gambling companies, PokerStars, refunded $2.1 million to its customers after discovering cheaters colluded to rig games. In another incident, PokerStars paid out another $80,000 to players who had unwittingly been up against poker “bots” – automatic card playing software. These bots are causing people to lose even more money than normal. Click on this link to the story and the podcast from BBC Radio 5. You will need to scroll halfway down the page to obtain the podcast.
New York’s Latest Way of Enticing its Citizens to Lose Money
The latest ad campaign for the New York Lottery consists of the slogan: “Be Ready.” According the New York Times article below, the message of the campaign is that “anyone who plays the instant games…ought to be prepared to win immediately in a moment of instant gratification.”
Looking Back, Lost Bid to Host a Casino “a blessing”
The English seaside resort town of Blackpool was relieved when it lost a bid to host a “super casino.” Blackpool will now focus its efforts on maintaining its family friendly reputation.
North Carolina Lottery Violates its Own State’s Lottery Advertising Laws
When North Carolina introduced the lottery in 2005, it put in a measure that officials thought would prevent it from exploiting people with gambling addiction. A law was passed forbidding the the agency to advertise the lottery in a way that would entice people to play. However, the North Carolina Lottery has disregarded this law.
Corruption at Pennsylvania Gaming Control Board
In a scathing 102-page report, a state grand jury in May 2011 slammed the Pennsylvania Gaming Control Board as a patronage-filled, secretive agency that failed to safeguard the public by inadequately investigating casino operators and vendors, and succumbing to political pressure.
Sweepstakes Cafes Popping Up in North Carolina’s Low-Income Neighborhoods
This February 2010 article from North Carolina’s Independent Weekly highlights the fact that sweepstakes cafes are flourishing in the state – particularly in low-income and minority neighborhoods.