Toronto fair headed by ex-Liberal minister fined $200K for casino operations
Toronto’s iconic Canadian National Exhibition, the nation’s largest summer fair, has been slapped with nearly $200,000 in fines for breaches of anti-money laundering and terrorism financing laws.
Toronto’s iconic Canadian National Exhibition, the nation’s largest summer fair, has been slapped with nearly $200,000 in fines for breaches of anti-money laundering and terrorism financing laws in relation to it’s casino operations.
The hefty penalty was incurred by the CNE under the nascent stewardship of former Liberal Health Minister Mark Holland. Holland was recently on local news promoting the exhibition’s newest foodstand offerings: deep-fried watermelon and a chicken nugget doughnut.
The CNE’s seasonal casino, operating since 1991 as a not-for-profit licensed by the Alcohol and Gaming Commission of Ontario, offers table games with bets capped at $300. It typically runs 18 to 50 days annually with two full-time employees.
Canada’s financial intelligence agency found the casino had inadequate risk assessment procedures and failed to conduct a semi-annual review of its compliance program.
CNE casino management has disputed the findings and filed an appeal in Federal Court.
The exhibition and its casino have denied any criminal intent or wrongdoing, arguing that as a seasonal operation, it should only be responsible for annual—not semi-annual—compliance reviews.
Their appeal, filed Aug. 13, argues the fine is unfair punishment for administrative missteps.
While penalties for violating Canada’s money laundering and terrorism financing laws are steep—nearly $19 million in fines were imposed in 2024—these types of fines are uncommon.
Consider, for instance, that there have been only ten financial penalties imposed by FINTRAC against financial and gaming institutions year-to-date in 2025.
The CNE casino will operate throughout the fair and remain open until Sept. 1.
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