Anti-money laundering fines are becoming a recurring theme on the Las Vegas Strip, with Wynn Las Vegas now marking the third major casino to face such penalties this year.
On Thursday, Wynn Las Vegas and the Nevada Gaming Control Board (NGCB) revealed a $5.5 million settlement for AML violations tied to unlicensed money transfers. This penalty stems from a six-count complaint by the NGCB and follows a federal non-prosecution agreement from last September. That agreement saw the casino forfeit over $130 million – reportedly the largest amount ever surrendered by a casino in connection with criminal admissions, according to the U.S. Attorney’s Office for the Southern District of California.
Earlier this year, Resorts World Las Vegas was fined $10.5 million in March for AML failures linked to illegal bookmakers, while MGM Resorts paid $8.5 million in April for similar infractions, many involving the same individuals. Although unrelated to those cases, Wynn’s fine adds to the growing list of compliance issues surfacing on the Strip.
The Nevada Gaming Commission is expected to give its final decision on the Wynn case during its meeting on 22 May, having previously approved similar fines without imposing further conditions.
Wynn mentioned:
We are pleased that we have satisfactorily resolved this matter with the Nevada Gaming Control Board.
Wynn Resorts is committed to acting with the highest integrity and in full compliance with all laws and regulations governing our industry.
The improper actions that are the subject of the settlement, which violated Wynn’s own compliance policies and procedures, were undertaken by individuals with whom we severed ties years ago. We accept responsibility for those actions and are now glad the matter is fully resolved.
