Cashless casino venues might be the future of brick-and-mortar casino gaming if the British Columbia government gives its approval of the innovative payment method. This week saw the Union of British Columbia Municipalities vote on the subject of no cash in casino venues, as a measure aiming to prevent money laundering from thriving across the local gaming field. Cascades Casino Delta might be the first cashless casino in Canada.
For quite some time now, the money laundering reports that have been highlighting major issues when it comes to regulations preventing the criminal practice from taking place has concerned Canadians. Many fields that allow individuals to hide the source of their cash or simply to avoid disclosing it are potentially prone to dirty cash flow, often times linked to international crime schemes.
Cashless Payments May Come Soon
British Columbia’s casino field has been associated with Chinese high rollers bringing duffel bags with CA$20 banknotes, fueling their gaming activities. Existing measures aiming to minimize the money laundering opportunities have failed to do so in the past, meaning that new ones should be introduced for more efficient operation. This week saw a special vote including delegates of all British Columbia municipalities.
As a result of the vote, Victoria would now have to launch a detailed evaluation of cashless gaming systems and their potential implementation in British Columbia. Casino locations with this system would not accept cash payments on their premises, but instead, guarantee each guest a personal account and card payments for all gaming offerings available. Such innovation is projected to guarantee the identity of a given player.
In addition to that, it would indicate whether or not they are part of a voluntary self-exclusion program, as over the past few years the efficiency of such programs has been compromised across the country. All money transactions would be visible and transparent, enabling the technology to make gaming easier and hassle-free down the road. It would also give players a better perspective on their gaming habits.
Cascades Casino Delta Opens Next Fall
Gateway Casinos and Entertainment is currently working on its new casino complex that would cost some CA$70 million. Its launch date is scheduled to take place next year, but the months leading up to it would be dedicated to the exploration of anti-money laundering measures.
Delta officials want to see a close-knit collaboration between the British Columbia government and Ottawa, evaluating the pros and the cons of a casino venue that does not accept cash payments. There are many casinos around the globe that have already implemented this innovative approach to some extent eyeing complete elimination of money laundering within the casino resort, as well as in the casino field in general.
When it comes to North America, there has not been a single casino location allowing completely cashless gambling in brick-and-mortar locations, which could make Canada a pioneer. Delta Mayor George Harvie is an avid supporter of this approach ever since he was still a candidate for the leading role. One of his main arguments in support of going cashless was the city’s proximity to supposed money laundering hotspots such as Richmond.
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