Vancouver’s Once Rollicking Casinos Hit by Dirty Money Crackdown
- Parq Vancouver risks payment default within a year, says S&P
- New government measures curb table drops, casino revenue
The Parq Vancouver casino and hotel stands in Vancouver, British Columbia.
Photographer: Darryl Dyck/BloombergThis article is for subscribers only.
When Parq Vancouver, a glimmering waterfront casino, opened amid much to-do in late 2017, few would’ve anticipated that a dirty money crackdown was about to throw the city’s roaring gambling business into turmoil.
Vancouver-area casinos for years had been accepting millions of dollars in questionable cash from gamblers showing up with suitcases and hockey bags bulging with bills, according to British Columbia Attorney General David Eby. But new rules implemented last year to more tightly identify sources of funds have put a damper on that rollicking trade.