Tag: Macau gambling crime
China Currency Limits Feed Macau Casino Crime
July 1, 2013
China’s currency controls create incentives for Macau casino crime to launder their winnings through organized crime gangs in Macau, Nevada’s state gaming regulator said on Thursday. Testifying before a U.S. congressional advisory panel investigating money laundering in Macau, A.G. Burnett, chairman of the Nevada State Gaming Control Board, said he regulates three U.S.-owned casinos on the island, but he can only do so much. “The risk, if I can speak frankly, is China’s, and I know that they are trying to crack down on corruption and items that may bring disrepute to them,” Burnett told the U.S.-China Economic and Security…