Steve Ruddock Bicycle Casino federal raid

This is a developing story, we’ll post more details as they become available.

On Tuesday, federal agents from a joint task force of ICE, Homeland Security, and the IRS raided and shut down the Bicycle Casino in Los Angeles.

The casino is closed until further notice.

UPDATE: The casino is expected to reopen sometime Tuesday or perhaps Wednesday at which point players will be able to cash in chips – when the raid occurred players were escorted from the building and had to leave behind their chips in play.

Becky Warren, a spokeswoman for the Bicycle, said the casino is “cooperating with authorities” according to the LA Times.

Speculation is rampant. No official statements were issued, but it appears the investigation is centered around money laundering:

As soon as more details are available, we’ll update this column.

Not the first and likely not the last

Money laundering has been a thorn in the side of the California card room industry in recent years.

And there are plenty of other cases of impropriety going back even further in time.

Image c/o World Poker TourCC BY-NC 2.0

Steve Ruddock
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