SocietyVille
Now here's something interesting, from Daniel Thompson at the gambling trade site 'Casino Reports':
Gateway Casinos and Entertainment bagged a hefty cheque coming from the Government of Canada and aiming to support its ongoing business. Some CA$200 million is going to be loaned to the casino leader based in British Columbia. The support comes in accordance with the Large Employer Emergency Financing Facility agenda....
Which leads us to wonder...
Will all that cash be delivered in hockey bags?
Now here's something interesting, from Daniel Thompson at the gambling trade site 'Casino Reports':
Gateway Casinos and Entertainment bagged a hefty cheque coming from the Government of Canada and aiming to support its ongoing business. Some CA$200 million is going to be loaned to the casino leader based in British Columbia. The support comes in accordance with the Large Employer Emergency Financing Facility agenda....
Which leads us to wonder...
Will all that cash be delivered in hockey bags?
The following is from a Sam Cooper Postmedia report in 2017:
Criminal charges have been laid against Silver International Investment, a money-transfer business that RCMP allege was involved in money laundering, had ties to underground banking and used suspected drug cash to fund Chinese VIP gamblers in B.C. casinos.
{snip}
...In late August, at a Vancouver conference attended by law enforcement officials, RCMP Insp. Bruce Ward outlined the details of E-Pirate. The investigation started with surveillance of gambling and cash drops at River Rock Casino, documents say, which led to Silver’s cash house, about a 10-minute drive away.
{snippety-two}
Describing a typical cash drop, (RCMP Inspector Bruce) Ward said: “They would put $100,000 into a hockey bag, show up at the casino, and give (the VIP gambler) $100,000 …
And who, exactly, dismantled the illegal gambling enforcement team (IGET) back in 2009 that paved the way for such business as usual practices?
Criminal charges have been laid against Silver International Investment, a money-transfer business that RCMP allege was involved in money laundering, had ties to underground banking and used suspected drug cash to fund Chinese VIP gamblers in B.C. casinos.
{snip}
...In late August, at a Vancouver conference attended by law enforcement officials, RCMP Insp. Bruce Ward outlined the details of E-Pirate. The investigation started with surveillance of gambling and cash drops at River Rock Casino, documents say, which led to Silver’s cash house, about a 10-minute drive away.
{snippety-two}
Describing a typical cash drop, (RCMP Inspector Bruce) Ward said: “They would put $100,000 into a hockey bag, show up at the casino, and give (the VIP gambler) $100,000 …
And who, exactly, dismantled the illegal gambling enforcement team (IGET) back in 2009 that paved the way for such business as usual practices?
Well.
________
Of course, 'Silver International' has been in the news for other, more deadly, reasons recently.
.
3 comments:
Mr. Coleman says, “First of all, I don’t deal in paper.”
Neither did Al Capone. Which is what eventually sank him.
Gateway Casino, based in British Columbia with 2 gambling sites, has competition for the $200 million from Alberta 2 sites and Ontario 3 sites
How much assistance is available?
Canada is making available loans of $60 million and above, based on the applicant’s cash flow needs for the next 12 months. The loan size for each applicant will be assessed on a case by case basis based on demonstrated need.
https://www.cdev.gc.ca/leeff-factsheet/
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and more importantly
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Fasken handout on leeff
Executive Compensation
As stated above, borrowers will be required to adhere to certain executive compensation restrictions. Although details of such restrictions have not yet been released, we expect they will include limits on total compensation that may be paid to executives of the borrower including, perhaps, a requirement that no executive be paid more in total annual compensation while the loans under LEEFF are outstanding than he or she received prior to the company’s participation in the program.
https://www.fasken.com/en/knowledge/2020/05/25-canadas-large-employer-emergency-financing-facility/
Glow-bal tv is celebrating 60 years in service to British Columbians, hence a montage of historic moments that includes a tug towing a fast ferry and the cops atglen Clark’s home working a search warrant.... no pictures of mounds of cash at casino bank teller windows or images of bcrails wunderkind Birk and Vassi, odd editorializing ya think?
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