Summary
Wynn Las Vegas has agreed to pay a $5.5 million fine imposed by the Nevada Gaming Control Board for violations related to anti-money laundering (AML). This makes Wynn the third Las Vegas Strip operator to face such penalties in 2025, following Resorts World and MGM Resorts. The complaints outline several instances of illicit money transfers dating back to 2014, including allowing international patrons to wager improperly and employing ‘proxy’ bettors.
Key Points
- Wynn’s fine stems from a six-count complaint regarding AML violations.
- The company was previously involved in a federal non-prosecution agreement involving a $130 million forfeiture.
- Resorts World Las Vegas and MGM Resorts also faced significant fines earlier this year for similar AML violations.
- The violations included allowing unlicensed money transfers and bypassing financial reporting laws.
- Wynn’s statement expresses commitment to compliance and acknowledges these actions were taken by former employees.
Why should I read this?
If you are keeping tabs on the gaming and regulatory landscape, this article highlights a troubling trend in Las Vegas. Wynn’s hefty fine, following similar penalties for other major operators, underscores the increasing scrutiny casinos face regarding compliance with AML regulations. By reading further, you’ll get the lowdown on how these incidents may affect the broader gaming industry and the future of regulations in Las Vegas.
