StockNews.AI
AGCO
StockNews.AI
23 days

AGCO issues $120,000 penalty to Great Canadian Casino Resort Toronto for cheat scheme involving two dealers

1. AGCO penalizes Great Canadian Casino $120,000 for cheating incidents. 2. Dealers colluded with patrons leading to $20,000 in illicit winnings. 3. Second cheating incident raises concerns about casino's surveillance and integrity. 4. AGCO stresses importance of detecting and preventing cheating in gaming. 5. Casinos can appeal monetary penalties to the Licence Appeal Tribunal.

4 mins saved
Full Article

FAQ

Why Bearish?

The report reflects negatively on the integrity of the casino industry in Ontario, potentially impacting related stocks like AGCO by diminishing public trust and perceived operational risks. Historical incidents, such as similar cheating cases impacting stock prices in the gambling sector, illustrate how such events can lead to declines in stock value.

How important is it?

The incident reflects operational risks that could extend beyond Great Canadian Casino, influencing broader market sentiments towards casino stocks in Ontario, although AGCO itself is not directly implicated.

Why Short Term?

Immediate investor sentiment may be negatively affected by this incident, leading to a short-term decrease in related stock prices, although the long-term impact may hinge on regulatory responses and operational adjustments made by the casino industry.

Related Companies

GDENCZRMGM
TORONTO, April 16, 2025 (GLOBE NEWSWIRE) -- The Registrar of the Alcohol and Gaming Commission of Ontario (AGCO) has issued a monetary penalty totalling $120,000 against Ontario Gaming GTA Limited Partnership (“Great Canadian Casino Resort Toronto”) alleging they failed to detect a cheat-at-play and dealer collusion scheme at Great Canadian Casino Resort Toronto. In March 2024, the Ontario Provincial Police Investigation and Enforcement Bureau (IEB), embedded within the AGCO, laid charges against five individuals. The charges followed an investigation into allegations that two table games dealers at Great Canadian Casino Resort Toronto were in collusion with a group of casino patrons. The AGCO conducted a subsequent compliance review and confirmed that the dealers had engaged in a cheat scheme on multiple occasions with the same group of patrons, leading to nearly $20,000 in illicit winnings in less than one week. The scheme involved the alleged execution of various dealer cheat moves, including: intentionally exposing cards that were supposed to remain face down while dealing, inappropriately overdrawing the dealer’s cards, and issuing overpayments on winning hands. The AGCO’s review found Great Canadian Casino Resort Toronto’s surveillance and supervisory pit staff failed to detect the cheat scheme. Further, the review determined that casino staff failed to follow proper table games audit procedures, which are intended to ensure rules of play are followed by dealers and patrons. This is Great Canadian Casino Resort Toronto’s second recent incident involving allegations of a cheat-at-play and dealer collusion at the casino. A casino operator served with an Order of Monetary Penalty by the AGCO Registrar has the right to appeal the Registrar’s decision to the Licence Appeal Tribunal (LAT), which is an adjudicative tribunal independent of the AGCO and part of Tribunals Ontario. Quote  “Ontario’s registered casino operators have an obligation to ensure the integrity of game play in their casinos. This includes a responsibility to detect and prevent collusion and cheating. The AGCO will continue to monitor and take all necessary steps to uphold the integrity of gaming in Ontario’s gaming sites.”  Dr. Karin Schnarr, Chief Executive Officer and Registrar, AGCO  Media Contact  AGCO Media media@agco.ca   About the AGCO The Alcohol and Gaming Commission of Ontario (AGCO) is an Ontario provincial regulatory agency reporting to the Ministry of the Attorney General (MAG). It is a corporation under the Alcohol and Gaming Commission of Ontario Act, 2019.

Related News