[Greens-Media] Another high roller room would open floodgates to laundered money

[John Kaye]

Another high roller room would open floodgates to laundered money

Media release: 4 July 2013

Testimony by the Las Vegas casino regulator warns of the inevitable flow of
billions of dollars dark money into NSW if either James Packer's or Echo's
VIP casino proposal is approved today, according to Greens NSW MP John Kaye.

A.G. Burnett, Chair of the Nevada State Gaming Control Board, in testimony
before the US-China Economic and Security Review Commission, linked VIP
gambling in Macau to money laundering. He raised the alarm on the
consequences of the Chinese government's laws that impose tight limits on
money being taken out of the country.

Dr Kaye said that a new high roller room could only survive by relying on
the cash of gamblers who step outside Chinese laws and into the hands of
organised crime.

Dr Kaye said: "The growth market for big spending VIP gamblers is dominated
by mainland China, where the government imposes tight limits on the money
its citizens can take overseas.

"Another high roller casino in Sydney can only survive if it attracts
currency laundered through some very unsavoury channels.

"If Premier Barry O'Farrell gives the green light to Crown's Barangaroo
proposal or Echo's re-development  he will be further opening NSW up to the
same corruption and crime problems that have become endemic in the Macau
gambling enclave.

"The Premier, James Packer and Echo cannot claim ignorance of the
prevalence of money laundering into the VIP gaming industry in Macau.

"Approving either Crown or Echo's proposals would be high risk for Sydney.
If the Chinese government sets its mind to ending the flow if dark money
out of its country, the viability of the Barangaroo VIP room would be
deeply compromised. James Packer would inevitably pressure the O'Farrell
government into granting a licence for another full service casino, with
all of the associated increases in crime and problem gambling," Dr Kaye
said.

For more information: John Kaye 0407 195 455

Source documents

A.G. Burnett, chair of the Nevada State Gaming Control Board, testimony to
the US-China Economic and Security review Commission:
http://1.usa.gov/1aAJ22a

Reuters summary of Burnett’s testimony: http://reut.rs/15Kz5bh

Wikileaks US Consular cable on Macau casino money laundering:
http://bit.ly/QFFjGZ

Chinese currency prohibitions (People’s Bank of China):
http://bit.ly/14MHmwe

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John Kaye
Greens NSW MP
phone: 0407 195 455
web: www.john.nsw.greens.org.au
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