Normandie Casino agrees to pay $2.4 million fine for hiding players' wins from the IRS

[Dan Druff]

http://www.justice.gov/usao-cdca/pr/...violating-anti

The Normandie Casino is a shithole in the Los Angeles area. I have never been there. The games are all low limit, which is why I'm shocked by this passage:

During one six-week period in 2013, a single high-roller won more than $1 million from another party at the casino, and the casino conspired to conceal the identity of that high-roller.

Sounds like money laundering (and chip dumping) to me.

Apparently Normandie cashiers were both ignoring the requirement to fill out forms when more than $10,000 cash goes to or from the casino in a single transaction, as well as knowingly allowed "structuring", where an individual breaks up transactions to where they are less than $10,000, but where their total in 24 hours exceeds $10,000.

[Daly]

Often wondered about this topic. We got a bunch of people at my local card room that have safety deposit boxes. There must be a few million dollars in that safe but I know for a fact that some players keep tens of thousands of dollars worth of chips as well. wonder if it's for tax purposes.

[simpdog]

Often wondered about this topic. We got a bunch of people at my local card room that have safety deposit boxes. There must be a few million dollars in that safe but I know for a fact that some players keep tens of thousands of dollars worth of chips as well. wonder if it's for tax purposes.

Likely a combo of tax and wife reasons.