Inside Asian Gaming

Inside Asian Gaming

February 2008 | INSIDE ASIAN GAMING 7 A ny gaming investors querying why casino operators need to spend increased sums on security received a timely lesson in Asia last month. Police in the Republic of Korea are investigating three male nationals from that country after they allegedly tried to convert fake casino chips into 600 million Korean Won (US$636,000) at the Kangwon Land casino in Kangwon province.The venue was the only one they—as korean nationals—could legally enter in order to try such an alleged scam. Police said the suspects succeeded in cashing ten fake chips each worth a million Won (US$1,060). They then attempted to convert the balance of the chips. The alarm was raised after a staff member recognised one of the suspects involved in the earlier transaction. Tagged Casino security isn’t as glamorous as the television series Vegas suggests, but it does have its moments Audit The casino said its own checks had found 43 fake chips with cash value of approximately US$40,000.The police went on record saying they are concerned other gamblers may unknowingly be holding many more. They said more of the fakes were found in a customs warehouse at Incheon International Airport in Seoul. If these are included in the tally, Kangwon Land may have been the target of a criminal conspiracy to steal more than US$4 million. With such potential sums at stake, all Asian casino operators will be reviewing their systems particularly carefully for signs of any potential weakness. A Korean police spokesman, detective Won Moon Hee, said in a statement:“The fake chips are believed to have been made in China.

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