AGCO has issued new fines to three Ontario Licensed Operators in April
The Alcohol and Gaming Commission of Ontario (AGCO) has recently issued fines totalling $70,000 against three Ontario-based operators. The fines come as a result of various violations of the province’s gambling laws and regulations.
The three operators involved in the fines are Gateway Casinos and Entertainment Limited, Great Canadian Gaming Corporation, and Two Way Inn Limited. The violations include a range of offences, including failing to ensure that proper procedures were in place to prevent money laundering, failing to comply with record-keeping requirements, and failing to maintain proper financial records.
Gateway Casinos and Entertainment Limited, which operates casinos in the Ontario cities of London and Woodstock, was fined $45,000 for failing to maintain proper records and failing to ensure that proper procedures were in place to prevent money laundering.
Great Canadian Gaming Corporation, which operates several casinos across Canada, including the Casino Ajax in Ontario, was fined $20,000 for failing to comply with record-keeping requirements.
Finally, Two Way Inn Limited, which operates a licensed establishment in Windsor, Ontario, was fined $5,000 for failing to maintain proper financial records.
The AGCO has stated that it takes these types of violations very seriously and will continue to enforce Ontario’s gambling laws and regulations. “The AGCO is committed to ensuring that Ontario’s gambling industry operates with integrity and in accordance with the law,” said AGCO Registrar and CEO Jean Major. “We will not hesitate to take action against operators who violate our regulations and put the public at risk.”
The fines come at a time when the Ontario government is considering expanding the province’s gambling industry. The government recently announced plans to allow the online sale of lottery tickets and to modernize the province’s gambling regulations. The proposed changes have been met with mixed reactions, with some expressing concerns about the potential for increased problem gambling and addiction.
However, the government has stated that it is committed to ensuring that the province’s gambling industry operates in a responsible and sustainable manner. “We recognize the potential benefits of a modernized and expanded gambling industry, but we also understand the risks that come with it,” said Ontario Finance Minister Vic Fedeli. “We are committed to striking the right balance and ensuring that the industry operates in a way that is both responsible and sustainable.”
The fines issued by the AGCO serve as a reminder that operators in the gambling industry must adhere to strict regulations and guidelines. Any violations of these regulations can result in serious consequences, including hefty fines and even the revocation of an operator’s license.
In conclusion, the recent fines issued by the AGCO against three Ontario-based operators highlight the importance of compliance with the province’s gambling laws and regulations. As the government considers expanding the province’s gambling industry, it is crucial that operators are held accountable for any violations and that measures are put in place to ensure that the industry operates in a responsible and sustainable manner.