The administration of Gov. Ralph DLG Torres is currently working on what his administration calls a \u201cwhite paper\u201d that seeks to briefly but thoroughly explain several aspects of the lone casino in the CNMI.<\/p>\n
According to an administration statement, the document is meant to \u201cprovide as much clarity as possible to policymakers to provide them the necessary information about the CNMI\u2019s gaming market.\u201d<\/p>\n
The matter was discussed briefly during Thursday\u2019s Commonwealth Casino Commission meeting, with Torres\u2019 chief of staff Matt Deleon Guerrero attending.<\/p>\n
\u201cWe\u2019ve been informed by the Office of the Governor that the CNMI government is putting together a white paper, apparently intended to be produced to the\u2026U.S. Senate,\u201d said the commission\u2019s executive director, Edward Deleon Guerrero.<\/p>\n
According to the administration statement, the \u201cwhite paper\u201d would focus heavily on the \u201cMacau model of gaming\u201d and how it differentiates from the standard U.S. model of gaming.<\/p>\n
The document would also address topics such as how the \u201cMacau model\u201d has been adjusted to conform to U.S. gaming and money laundering regulations as well as local regulatory concerns.<\/p>\n
\u201c[The government is] looking into regulatory capabilities and we have assured them that we have a robust regime in place to regulate [the industry],\u201d said Edward Deleon Guerrero. <\/p>\n
\u201c[The white paper intends to answer] how the regulatory protections set by the CNMI limits the opportunities for money laundering in accordance with the Anti-Money Laundering Act, the Bank Secrecy Act, and other financial crime protections of the United States,\u201d the administration statement adds.<\/p>\n
The \u201cwhite paper\u201d will highlight the significance of the casino industry for the \u201ceconomic growth of the CNMI\u201d as well as the significance of junket operators for a casino industry in a remote area such as the CNMI.<\/p>\n
Edward Deleon Guerrero cited the location of the CNMI as well as the fact that there is only one casino here to emphasize the significant role of junket operators\u2014agents who finance high rollers\u2014\u201cto the sustainability of this gaming industry.\u201d <\/p>\n
\u201cWe as regulators are contributing toward putting together what is our understanding of operations, how they are dealt with, and [how we] are trying to regulate it.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
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