Canadian National Exhibition Charity Casino Hit with $199K Fine for Anti-Money Laundering Violations

^{Officials from Fintrac say the CNE Casino failed to meet Canadian anti-money laundering compliance requirements, but the casino has denied all criminal allegations. (Photo: Canadian National Exhibition / Facebook)}

The charity casino that operates annually at the Canadian National Exhibition (CNE) had been fined nearly $200,000 by the Financial Transactions and Reports Analysis Centre of Canada (Fintrac) for alleged violations of anti-money laundering laws. 

The CNE is Canada’s largest summer fair, taking place each year at the Toronto Exhibition Place.

Fintrac Levies Two $100K Fines

Alongside the CNE, the CNE Casino operates table games and poker beginning weeks before the festival proper. In 2025, the casino is open from July 23 through Sept. 1, while the CNE festival itself begins Aug. 15 and wraps up on Sept. 1. 

The CNE Casino has operated on an annual basis since 1991. However, an examination by Fintrac led to the regulator charging the casino with two compliance violations related to Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

According to Fintrac, the CNE Casino had inadequate risk assessment procedures and failed to conduct a bi-annual effectiveness review of its compliance program. Each of the two violations came with a $100,000 fine. While officials from the casino have disputed the charges, Fintrac sent the casino notices confirming the fines on July 14, with the penalty lowered by $1,000 to $199,000 in total. 

Fintrac has not commented on the case, as it remains active before the Federal Court. However, officials with CNE Casino continue to defend the operation.

“These has never been any allegation of criminal activity at the CNE Casino in this process,” CNE Casino Director Gary Bostock told National Post. “We are in full compliance with all regulations and are committed to operating a safe, legal, and efficient business that benefits our charitable foundation.”

CNE Casino ‘In the Dark’ About Specifics of Violations

The casino has also denied any wrongdoing during the appeal process. In addition, lawyers have argued that the “truncated” nature of the Fintrac decisions makes it impossible for CNE Casino to understand the basis for the fines. 

“The ‘reasons’ they purport to set out are opaque to the point of unintelligibility,” the casino’s appeal states. “The Director completely fails to explain which procedures have not been ‘kept up to date’ and which regulatory requirements are missing. Her complete failure to bridge that logical gap leaves CNE Casino in the dark with respect to what it must do to fulfill its regulatory obligations.”

Lawyers representing CNE Casino have taken particular issue with the assertion that it hasn’t completed the necessary effectiveness reviews. While Fintrac requires reviews every two years, the casino – as a seasonal operation – has chosen to do an annual review instead. 

“These effectiveness reviews may not take on the form Fintrac prefers, but the regulatory obligation is one of substance, not of form.”

The CNE Casino holds a charitable license from the Alcohol and Gaming Commission of Ontario. It may only offer table games with a maximum bet of $300. 

The CNE, which is also known as The Exhibition, has taken place in Toronto since 1879. The fair attracts approximately 1.6 million visitors each year.

Looking for safer, licensed alternatives? Check out our top picks for Canadian online casinos that meet strict regulatory standards.