Sands Agrees to Combat Money Laundering in Macau

American gambling laws - GamingZion

Sheldon Adelson and Sands Macau have agreed to take further steps to make sure their business operations are not connected with organized crime or money laundering.

Enemy of internet gambling in America Sheldon Adelson’s business ventures in Macau have been extremely lucrative. The city is now the world’s foremost gambling hub, earning $45 billion in casino revenue in 2013. It draws wealthy businessmen and high rollers from across Asia, and many of them choose to gamble in Adelson’s Sands Macau Resort Casino, one of the city’s largest.

The Las Vegas mogul has benefited greatly from junkets, third-party companies which transport groups of wealthy gamblers to and from Macau. But many of these operations have undergone scrutiny for connections to organized crime and money laundering.

Adelson ramps up background checks

Adelson recently announced that Sands would require junkets bringing gamblers to the casino to provide information on their businesses as well as their customers. Bloomberg reported that the company is doing this is order to meet the demands of American regulators and law enforcement. American gambling laws require casinos to take measures against things like money laundering. While Macau is obviously outside of their jurisdiction, Sands is an American company and works closely with regulators.

A source providing information for Bloomberg reported that the measures will reduce the amount of junkets bringing gamblers to the Sands Macau, but that the company is working hard to build its own network of high rollers independent of junkets.

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