As part of its plan, BCLC has embarked on a renewal period of its Operational Services Agreement (OSA) with casino operators.
The regulator has announced it will agree on new terms with operators to strengthen its surveillance authority. Introducing the revised 20-year OSA last week, BCLC explained that most aspects of the local gambling market are already being reconsidered.
Under the new conditions, casino operators will now actively participate in money laundering crackdowns, and casino operators will enjoy a 5% facility investment committee in return for their vigilance and commitments. The BCLC explained that the new rules came after British Columbia Attorney General David Evey released a 2016 report that raised concerns about money laundering activities at the River Rock Casino Resort.
Jim Lightbody, president and CEO of British Columbia Lottery, issued an official statement explaining that "BCLC is moving in the right direction following the latest changes" and warned that "businesses that do not comply with the new regulations will be sanctioned on multiple occasions."
Contents of the new operational service contract
The British Columbia Lottery officially announced new regulations in its operational services contracts, which, as mentioned earlier, give BCLC more "compliance and security oversight" and allow casino operators to submit reports, including capital and operational investment commitments, to respond more quickly to suspicious activities and follow BCC casino industry principles.
BCLC has introduced permanent tax increases on regular limited table games and poker, under the new rules, current taxes on regular limited table games and poker will be raised by 2.5% each, taxes on slot machines and high limited table games will remain the same, and current taxes will be raised temporarily for the bingo sector. Businesses offering bingo games must lower their tax rates of $45, $10 per week by 90%.
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