New York State Gaming Commission (NYSGC) Chairman Brian O’Dwyer stressed that the ongoing downstate casino licensing process will be “fair, transparent, competitive, and deliberative.” He indicated that no operator should expect a free pass.
Speaking at the Racing and Gaming Conference in Saratoga, O’Dwyer emphasized that the Community Advisory Committee (CAC), now underway, is critical in the process of the approval or rejection of the eight casino applications.
The CAC stage is the first step in a process that ensures that a casino is not “shoved down the throat” of a community that doesn’t want it.
While the law permits awarding up to three licenses, O’Dwyer noted the final number could be fewer if there aren’t enough suitable candidates.
“If the Gaming Facility Location Board decides that no bidder is worthy, there will be no license issued,” O’Dwyer said, underlining that the law allows up to three licenses but “not must be awarded… It could be one, two, or three licenses.”
He promised a thorough review of each bidder’s “character, fitness, and operational capacity”, saying:
“The commission is neither a rubber stamp nor a potted plant.”
O’Dwyer also warned that the state will heavily factor in violations in other jurisdictions. That includes anti-money laundering (AML) compliance in its licensing decisions.
“Only those licensed candidates who have met the highest standards of integrity and operational efficiency will be awarded a license.”
Resorts World & MGM Could Face Scrutiny Over Nevada AML Cases
O’Dwyer’s comments on AML violations could have implications for two candidates: Genting’s Resorts World New York City and MGM Resorts’ Empire City Casino bids.
Many view the two applicants as frontrunners. That’s because they are operating racinos in the state and could quickly transition to full-scale casinos.
O’Dwyer addressed rumours of frontrunners, which he says he reads every day in the news:
“There are no preconceived (favorites). This is a tabular roster. Each candidate’s proposal will be assessed by the CAC and the Gaming Facilities Location Board on the merits.”
Both companies could face scrutiny due to their involvement in high-profile AML enforcement actions in Nevada.
In March, Resorts World Las Vegas agreed to pay a $10.5 million fine, the second-largest in Nevada gaming history. The record fine resulted from violations related to dealings with illegal bookmakers. One bookie, Matthew Bowyer, lost over $8 million at the property.
The Nevada Gaming Control Board accused then-president Scott Sibella and other executives of negligence. The execs also failed to report Bowyer’s suspicious activities as part of AML protocols.
In April, the Nevada regulator fined MGM Resorts $8.5 million for similar allegations. Like with Resorts World Las Vegas, Bowyer used illicit proceeds to gamble at MGM properties on 300 occasions. Meanwhile, another illegal bookie, Wayne Nix, lost nearly $5 million at MGM properties.
Hard Rock’s Executive Turmoil Raises Questions
Hard Rock International, which is backing the Metropolitan Park casino bid in Queens alongside Mets owner Steve Cohen, is facing an internal controversy that New York regulators could also closely examine.
Earlier this month, the company fired Senior Vice President Alex Pariente. The move was a result of an investigation into allegations of his involvement in money structuring practices and facilitating questionable gambling activity. His actions would have violated AML protocols.
Hard Rock acted swiftly. However, O’Dwyer’s pledge to consider “all pertinent information” suggests the scandal could influence how New York regulators view the company’s suitability.
More Information & Source
Original Source:
Visit Original Website
Read Full News:
Click Here to Read More
Have questions or feedback?
Contact Us
