Windsor Casino Enters Bidding War while FINTRAC Issues Special Advisory for Online Gambling

Canada Sports Betting provides weekly updates on sports betting and iGaming news in Canada. Here are the top stories for this week.

The first major highlight is the return of UFC to Toronto after more than five years. The event will feature the middleweight championship bout between Sean Strickland and Dricus Du Plessis, as well as the women’s bantamweight division title fight between Raquel Pennington and Mayra Bueno Silva. Canadian fighters will also be featured, and a full betting preview will be provided by Canada Sports Betting on Friday.

Another major news story is the bidding process for the day-to-day operations of the Windsor Casino. There are three frontrunners for the casino operations: Caesars, Bally’s, and Mohegan Gaming and Entertainment. Caesars is the preferred operator in Windsor and has digital platforms for both iCasino and sports betting. The bidding process is expected to be concluded this fall.

Additionally, a special advisory was issued by FINTRAC, Canada’s national financial intelligence unit, highlighting the indicators of money laundering in both unregulated and regulated online gambling sites. The advisory warns about the exploitation of licensed online gambling sites by money launderers and outlines tactics used by criminals to conceal the source of their funds.

The standards for internet gaming in Ontario outline requirements for minimizing unlawful activity related to gaming, and operators in the regulated iGaming market are obligated to monitor suspicious player activity and share reports with FINTRAC.

Lastly, money laundering has historically been an issue at brick-and-mortar casinos across Canada, as evidenced by the Cullen Report, which confirmed significant instances of money laundering. Experts in the anti-money laundering field have also warned that Ontario is “highly vulnerable” to similar threats.

These were the top stories for this week in sports betting and iGaming news in Canada. Stay tuned to Canada Sports Betting for more updates and betting previews.