Wynn Resorts is the third major casino operator to succumb to the mercy of the Nevada Gaming Control Board (NGCB) over the past two months. The casino giant has agreed to pay a $5.5m fine to the regulator over unregistered international money transmissions.
The settlement still requires approval by the NGCB in a May 22 vote. It also includes extra conditions on the license of Wynn, in addition to remedial measures to the company’s anti-money laundering processes and staff training.
Wynn agreed to forfeit $130m to the government to settle the criminal case
The case relates to a ten-year-long investigation into Wynn by the US Department of Justice. The government agency probed unlicensed money transfers from around the world to gamblers at Wynn Las Vegas. In September, Wynn agreed to forfeit $130m to the government to settle the criminal case alleging it conspired with businesses to complete the unlicensed transfers.
The NGCB completed its own investigation upon conclusion of the federal case. According to the regulator, Wynn staff allowed international clients to obtain and transfer money improperly. They also allowed wagers to be placed for other patrons. Both of these actions violate the gaming licensee’s AML compliance program.
Both Resorts World Las Vegas and MGM Resorts International received similar fines this year already. Resorts World accepted a $10.5m penalty after the Board alleged it catered to illegal bookmakers, while MGM paid $8.5m for accepting nearly $5m from illegal bookmakers.
