The Bicycle Hotel & Casino in Bell Gardens reopened early Wednesday, hours after federal agents raided the facility and seized thousands of financial records as part of a money-laundering investigation, law enforcement officials told The Times.
“We are serving our customers and resuming normal operations immediately,” the casino said in a statement. “Our priority is to provide a safe and fun environment for our guests."
The casino was closed for about 20 hours Tuesday when agents entered its main floor, halting bets at one of Southern California’s largest gambling rooms.
The raid was led by members of the Los Angeles High Intensity Financial Crime Area Task Force — a group that includes investigators from U.S. Immigration and Customs Enforcement, the Internal Revenue Service, the California Department of Justice’s bureau of gambling control and the U.S. attorney’s office.
The investigation will focus on whether individuals used the club to launder funds by placing bets with dirty money before exchanging their chips for clean cash, according to several law enforcement sources familiar with the investigation. The sources requested anonymity because they were not authorized to discuss the case.
Virginia Kice, an ICE spokeswoman, declined to comment on “the scope or nature of the investigation.” But, she said, a “search warrant issued by a United States magistrate judge was filed under seal in relation to an ongoing investigation.”
Becky Warren, a spokeswoman for the casino, said management was "cooperating with authorities" but declined to comment further.
Tuesday was not the first time that law enforcement efforts had focused on the casino.
In 1990, the Drug Enforcement Administration and the IRS seized control after authorities discovered laundered drug money had been used to finance the casino’s construction. A jury found that $12 million of the $22 million total had come from Florida drug smugglers. In 1991, the federal government took over part ownership of the casino, eventually selling its share to a British gaming company.
Known for its 185 tables of poker and other card games, the casino now is privately owned by Bicycle Hotel & Casino LLC.
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