Wynn Resorts has become the third Las Vegas casino operator to be served a multi-million dollar fine by the Nevada Gaming Control Board (NGCB) for alleged failures to fulfil anti-money laundering requirements.
In a statement, the NGBC said that Wynn, via its subsidiary Wynn Las Vegas, LLC (Wynn LV), had entered into a Stipulation for Settlement following a complaint for disciplinary action that will if approved by the Nevada Gaming Commission (NGC) see it pay a US5.5 million fine to Nevada’s General Fund.
The complaint alleges unsuitable methods of operation arising from activities related to unregistered money transmitting businesses, facilitating international monetary transactions, allowing proxy betting and other prohibited monetary transactions that were contained in a non-prosecution agreement between the U.S. Attorney’s Office for the Southern District of California and Wynn LV. The NGCB’s complaint also details instances where former employees of Wynn Las Vegas allowed international patrons to obtain and/or transfer money improperly for the purposes of wagering, and allowed wagers to be placed for other patrons at Wynn Las Vegas in violation of the gaming licensee’s Anti-Money Laundering Compliance Program, the regulator added.
Wynn, the NGBC explained, had kept the NGCB up to date on the progress of the federal investigation and later fully cooperated with its own regulatory investigation.
Under the terms of the settlement, Wynn Las Vegas will implement numerous remedial measures mainly related to enhancements to its AML Program, as well as additional training and employee awareness of AML requirements.
The NGC is scheduled to consider approval of the Stipulation at its monthly meeting this Thursday 22 May, the NGCB said.
As reported by IAG, both Resorts World Las Vegas and MGM Resorts have reached similar agreements with the Nevada regulator in recent months in relation to alleged AML breaches.
