Third major casino operator on Las Vegas Strip penalized with multi-million-dollar penalty within past two months, in this case, Wynn Resorts.
Las Vegas Casinos Caught Off-Guard
The Nevada Gaming Control Board (NGCB) has landed another high-profile fine against a major Las Vegas casino operator, this time it's Wynn Resorts that's coughing up $5.5 million. The penalty is part of a settlement announced late last week that outlines Wynn's AML violations.
The fine, to be voted on by the Nevada Gaming Commission at their May 22 session, follows similar penalties issued to MGM Resorts International and Resorts World Las Vegas earlier this year. This makes the Wynn case the third major penalty in as many months.
The Scoop
The settlement includes numerous conditions on Wynn's gaming license, as well as remedial measures to strengthen its AML program. The deal also calls for additional employee training on AML requirements.
Back in September, Wynn Resorts agreed to forfeit $130 million to the federal government to settle criminal allegations related to conspiring with unlicensed money-transmitting businesses worldwide. The cooperation came in the form of a "non-prosecution agreement" between Wynn Las Vegas and the U.S. Department of Justice.
The NGCB's complaint details instances where former Wynn employees allowed international patrons to transfer funds improperly for gambling, and allowed wagers to be placed for other patrons at Wynn Las Vegas in violation of the licensee's AML compliance program.
During the federal investigation, Wynn Las Vegas kept the NGCB in the loop. Once the federal case was resolved, NGCB enforcement agents launched a separate regulatory investigation and received Wynn's full cooperation throughout.
AML in the Spotlight
The Nevada Attorney General's Office and Wynn's legal team will explain the settlement's terms at next week's Commission meeting and request approval.
In March, Resorts World Las Vegas accepted a $10.5 million fine from the Commission over allegations it catered to illegal bookmakers. In April, MGM Resorts International forked over nearly $5 million in wagers to illegal bookmakers and paid an $8.5 million fine from the Commission.
The Nevada gaming regulator's crackdown on AML violations in the gaming industry continues.
Enrichment Data:
The settlement with Wynn Resorts resolves allegations of AML violations, including facilitating unlicensed money transfers and allowing proxy betting. The settlement includes a $5.5 million fine, enhancements to Wynn's AML training programs, additional internal controls, and improvements to the company's AML compliance program. The settlement is expected to be reviewed and finalized by the Nevada Gaming Commission on May 22, 2025. Wynn Resorts has emphasized its commitment to operating with integrity and compliance with gaming regulations.
- The recent settlement between Wynn Resorts and the Nevada Gaming Control Board involves conditions for their gaming license, aiming to strengthen their Anti-Money Laundering (AML) program and provide additional employee training in AML requirements, within the Las Vegas casino culture.
- As the Nevada Gaming Control Board crackdown on AML violations in the gaming industry continues, it has resulted in major penalties for operators like Wynn Resorts, MGM Resorts International, and Resorts World Las Vegas, highlighting the importance of casino-and-gambling compliance in Las Vegas, particularly in casino-games environments.
