Wynn Resorts has entered into a proposed stipulation for settlement with the Nevada Gaming Control Board (NGCB), which will see the Wynn Las Vegas casino pay a $5.5m fine for anti-money laundering failings.
The proposed stipulation has been filed contemporaneously with an NGCB complaint calling for disciplinary action, stemming from a non-prosecution agreement from last September between Wynn Las Vegas and the US Attorney’s Office for the Southern District of California, where the casino forfeited more than $130m.
NGCB’s 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” contained within the non-prosecution agreement.
“The NGCB Complaint details instances where former employees of Wynn LV allowed international patrons to obtain and/or transfer money improperly for the purposes of wagering, and also allowed wagers to be placed for other patrons at Wynn LV in violation of the gaming licensee’s Anti-Money Laundering Compliance Program,” the NGCB said.
“During the pendency of the federal investigation, Wynn LV kept NGCB agents apprised of the matter. Upon resolution of the federal case, NGCB Enforcement Agents completed a separate regulatory investigation, and received full cooperation from Wynn LV throughout the investigation.
“The Stipulation includes a fine of $5,500,000 payable to Nevada’s General Fund, and dictates specific conditions be placed on the gaming license of Wynn LV. The proposed settlement also details numerous remedial measures implemented at Wynn LV. The majority of the conditions and remediations focus on enhancements to Wynn LV’s AML Program, as well as additional training and employee awareness of AML requirements.”
At its monthly meeting on 22 May, the Nevada Gaming Commission (NGC) will consider approving the stipulation, with counsel for Wynn Las Vegas and the Nevada Attorney General’s Office explaining its terms before requesting NGC approval of the negotiated settlement.
Wynn Las Vegas is the third casino on the Vegas Strip to face a fine from the NGCB for AML violations this year. Resorts World agreed to a $10.5m settlement in March, while MGM Resorts agreed to an $8.5m settlement last month.
