Nevada casinos confiscate around $40k in counterfeit cash every week, according to a new US government study. Last week saw the release of the Treasury Department’s national money laundering risk assessment, which is viewable here (the casino section starts on page 74), although be forewarned that it often reads like a hypochondriac’s database of things that could go wrong. The counterfeit cash claim comes via the Secret Service, who linked the counterfeiters with ‘minimal gaming,’ where gamblers make major cash deposits but cash out for a casino check or a wire transfer after minimal play. The most commonly reported suspicious…

Facing a cash crisis, Puerto Rico is turning to desperate measures to pay the bills: It’s delaying tax refunds, borrowing from its insurance company and may even legalize the black-market slot machines in grocery stores. Lawmakers have yet to agree on a budget, with less than two weeks before the start of the new fiscal year. Without a spending plan in place, the junk-rated commonwealth won’t be able to raise as much as $1 billion from investors to keep the government running as it waits for tax revenue to flow in. “I have to prioritize,” Treasury Secretary Juan Zaragoza said…

The $240 billion U.S. gambling industry is looking to bolster its political influence with a national effort to mobilize workers behind its policy agenda heading into the 2016 elections. The American Gaming Association (AGA), a trade group representing mainly casinos and lotteries, boasts a growing membership covering 40 states, and the trade group’s leadership vowed Wednesday to increase its clout in Washington, despite the loss of retiring Sen. Harry Reid (D-Nev.), an influential congressional ally. “We’re going to be more active in political discussion,” MGM Resorts International CEO Jim Murren told reporters Wednesday at the AGA’s shiny new D.C. digs….

The American Gaming Association has spoken out against a proposal by the Internal Revenue Service that would involve electronic player tracking on casino gaming devices. During a recent IRS hearing, CEO and President of the American Gaming Association, Geoff Freeman, testified that the gaming group is in disagreement with the recent proposal that involves player tracking. The IRS has proposed that casino loyalty cards used by players, be used as an electronic tracking device to be used for the purpose of tax reporting. However, the process of equipping the marketing tool for such activity would prove to be difficult as…

States that draw revenue from casinos should regulate online gambling, as online has a complementary, not cannibalistic, effect on land-based gambling. That’s one takeaway from a recently published study entitled “Consumer spending in the gaming industry: evidence of complementary demand in casino and online venues” penned by gambling experts Kahlil S. Philander, Brett Abarbanel and Toni Repetti for International Gambling Studies. The authors advise that “US operators should recognize the positive value that online gambling can have with relation to their online operations,” suggesting that operators are best served integrating online gambling as part of their overall offering, as opposed…

The American Gaming Association (AGA) today announced the formation of its Illegal Gambling Advisory Board as part of its “Stop Illegal Gambling – Play it Safe” initiative. The new Board met for the first time today at the AGA’s office in Washington, DC. Members of the Board will provide advice regarding industry efforts to develop actionable tools for law enforcement and to reduce the demand through public awareness; guide partnerships with law enforcement at the local, state, federal and international level; and provide strategies and perspective on necessary steps to plug existing holes in enforcement efforts. “We’re fortunate that five of the most well-respected…