Gambling is always a controversial issue. While certain areas can benefit from allowing visitors and residents to participate in games of chance, the risk is not always at the table. While Las Vegas is famous for its gambling scene, regulators are constantly monitoring these activities to ensure that conflicts don’t develop from the activities that go on in casinos.
An example of this is the recent investigation of Las Vegas Sands Corp by Nevada state gambling authorities. The allegations against this location are more severe than the common complaints of minor dishonesty that frequently surround casinos. It is said that these casinos allowed Chinese players betting large amounts to do so in other people’s names.
The information comes from sources who are directly familiar with the investigation itself. The ongoing debate highlights the fact that while risk is a factor associated with gambling, these activities can also produce negative results for people uninvolved with the proceedings.
In an article by Yahoo Finance, it was revealed that a Sands spokesman said that the organization would be completely transparent with The Nevada Gaming Control Board. Ron Reese, the spokesman, noted that the organization has a history of being open with authorities concerning any allegations, and will react no differently in this matter.
The allegations have their roots in a case last year, when charges were brought against two women for failing to repay large gambling debts to the Sands’ Venetian and Palazzo casinos. However, the women’s legal representatives maintain that they were actually recruited by Sands personnel to take out a large amount of credit in their own names.
The allegations then state that the women would sit near the players while allowing them to use their chips. The players were then able to gamble large amounts of money without leaving a paper trail. It is said that the amount is in the millions of dollars mark, a huge issue even at a large gambling area.
While the primary concern was initially that the move would’ve violated bookkeeping requirements, other issues are also present. Many believe that the act would constitute a violation of “decency” requirements by changing the atmosphere from one of fun and safe games to one of dishonesty and fraud.
Since gambling institutions contribute greatly to the revenue of both Las Vegas and Nevada in general, it is understandable that gambling regulators want to ensure that the Sands or any other institution isn’t prone to becoming a disingenuous atmosphere.
The ability to track funds in gambling institutions allows disputes concerning these large games of risk to be resolved with accuracy. Undocumented results makes these conflicts harder to handle, and given that said conflicts often involve huge sums of money it is easy to see what kind of problems can be presented.
Regulators have been especially strict when it comes to gambling institutions that allow users to play without leaving a traceable record. In 2013, the Sands paid the US Department of Justice $47 million in a settlement pertaining to a known drug-trafficker losing over $84 million.