Denise Roche

Did SkyCity make $1.4 million out of alleged money laundering?

by Denise Roche

The New Zealand Herald reported today that the property and bank accounts belonging to Zhi Wei Yang, an alleged Auckland P dealer, has been seized under the laws around the proceeds of crime and that over a 19-month period this gentleman had a turnover of $14 million at Auckland’s SkyCity Casino.

The Herald reported that the casino operator was complying with all requests from the police and generally being helpful from the sounds of things – but no-one mentioned the fact that with a $14 million turnover spent the casino got a cut.

The amount kept by the casino varies on table games however if Mr Yang just spent his $14 million at the pokies there the casino would’ve earned about $1.4 million.  And obviously this money has not been seized.

SkyCity have frequently said that they have strong host responsibility programmes, however you have to wonder why, if they were monitoring the gambling behaviour of Mr Yang for 19 months and could point to how much he was spending, they didn’t intervene earlier and ask him where the money was coming from.

I guess this is a classic example of the old adage that ‘the house always wins.’

Published in Justice & Democracy | Society & Culture by Denise Roche on Fri, March 7th, 2014   

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