Former BCLC board chair says government ill-suited to run gambling Bud Smith testified he expressed his views about getting the Crown-owned lottery corporation out of high-limit gaming to Mike de Jong in 2015 and to David Eby in 2017
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Publishing date: Feb 04, 2021 • February 4, 2021 • 3 minute read • Testifying at the public inquiry into money laundering in B.C., former BCLC board chair Bud Smith said that the potential for suspicious activities at gaming outlets has historically been present in B.C. and the government would be better suited as a regulator. Photo by Nick Procaylo /PNG
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A former chairman of the board at the British Columbia Lottery Corp. says the government is not suited to run gaming operations and should get out of the high-stakes business where bet limits reach $100,000.
Smith, a former B.C. attorney general, said he expressed his views about getting the Crown-owned lottery corporation out of high-limit gaming to de Jong in 2015 and to Eby in 2017, shortly after the NDP formed government. It s my belief that government is ill-suited to be operating this high-level gaming business for a whole host of reasons, he said.
The potential for suspicious activities at gaming outlets has historically been present in B.C. for decades and the government would be better suited as a regulator, while allowing other entities to run high-limit gaming, said Smith.
The Crown-owned B.C. Lottery Corp., formed in 1985 to conduct and manage gaming in the province, has provided more than $23 billion in net revenues to communities.
Ian Mulgrew: B.C. Lottery CEO defends âdirty moneyâ controls before commission âBut you and I arenât the kind of people who want to bet $5,000 a hand on baccarat and spend 12 hours a day sitting at a table and betting that kind of moneyâ
Author of the article: Ian Mulgrew
Publishing date: Jan 28, 2021  â¢Â January 28, 2021  â¢Â 4 minute read  â¢Â B.C. Lottery Corp. executive Jim Lightbody, pictured in 2013. âI can tell you that we did everything in our power . to make sure we had the proper controls in place to mitigate the risk that criminals could use the casinos as a way to launder their dirty money,â Lightbody testified Thursday. Photo by Ian Lindsay /PNG files
B C lottery president says cash limits at casinos no panacea to fight illegal money alaskahighwaynews.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from alaskahighwaynews.ca Daily Mail and Mail on Sunday newspapers.
The president of the British Columbia Lottery Corp. says restricting large cash buy-ins at casinos was not a panacea to fight money laundering despite government concerns and calls for tighter controls dating back to 2015. Jim Lightbody, who is continuing his second day of testimony today at a public inquiry into money laundering, says the former Liberal government told the Crown corporation to consider cash controls at casinos as part of its overall approach to combat money laundering. But Lightbody says the government, including former finance minister Mike de Jong, supported the lottery corporation s anti-money laundering regime that was based on a risk-based approach, which included monitoring and banning some gamblers.