Gambling association releases first-of-its-kind money laundering report
Monitoring casino floors for potential money-laundering is a full-time job for the American gaming industry. Casinos, like banks and other institutions that deal with a lot of money, are required by law to vigilantly look out for financial transactions that may be illegal. And a first of its kind report from the industry’s Washington, D.C.-based […]
Study: Colorado gamblers’ ante stirred $1.5B in 2013 economic activity
Visitors to Colorado’s 39 casinos in three mountain towns fueled $1.5 billion of economic activity in 2013. A study by Oxford Economics released Thursday — part of a state-by-state survey of gambling’s economic impact by the American Gaming Association — showed Colorado’s non-tribal casinos supported more than 10,000 jobs and generated $342 million of state and local tax revenue […]
Gambling group drafts anti-money laundering guide
LAS VEGAS (AP) — A gambling industry group says it’s drafted a first-of-its-kind guide to help casinos prevent money laundering. The American Gaming Associationreleased its best practices Thursday to help casinos and Internet gambling sites comply with anti-money laundering laws. Casinos generally have their own plans but the group says there hasn’t been an industry-wide guide until now. Among […]
American Gaming Association Unites Industry to Produce Comprehensive Anti-Money Laundering Best Practices
Washington, DC –The American Gaming Association (AGA) today released a comprehensive set of Anti-Money Laundering (AML) Best Practices to guide the efforts of casinos to protect the U.S. financial system and our national security from money laundering and other forms of illicit finance. The AGA’s Best Practices for Anti-Money Laundering Compliance are the result of more than a […]
Local municipalities reaping early casino benefits: Editorial
Advocates of the MGM Resorts International casino in Springfield might suggest that benefits to outlying communities should be based on how heavily their voters supported the project in November. That is not how the money is apportioned, of course. Surrounding cities and towns will begin receiving financial aid related to the impact on them, as required by […]
MGM Springfield prepares to distribute nearly $2M in initial payments to ‘surrounding communities’ of $800M urban casino
As MGM Resorts Internationalworks to obtain all the necessary permitsto begin breaking ground in early 2015 for its $800 million Springfield casino, the company is also preparing to shell out nearly $2 million to eight Western Massachusetts communities on Friday, Dec. 5. The surrounding community agreements, as required by the 2011 Expanded Gaming Act, called […]
Casinos come up big for United Way
NIAGARA FALLS — When it comes to any casino, or gaming in general, there really isn’t such a thing as a “sure bet.” Associates at the city’s two casinos — Fallsview Casino Resort and Casino Niagara — and the United Way of Niagara Falls and Fort Erie may beg to differ, however. When the dust […]
BR casino market posts gains in Oct.
Baton Rouge’s three riverboat casinos brought in more money in October than they did the year before, with all the properties posting gains over 2013 figures. The riverboats brought in nearly $21.8 million in October, compared with almost $21.4 million in October 2013, a 1.9 percent gain, according to figures released Thursday by State Police. […]
Study finds Maine’s casinos had $227 million economic impact in 2013
Maine’s two casinos support nearly 1,500 jobs in the state, pay about $83 million in taxes, and last year had a total economic impact of $227 million, according to a study released by the American Gaming Association on Thursday. “This research reveals a vast industry that boosts local communities across Maine by supporting jobs and […]