A Canadian entity is seeking $3.8 million in compensation from Wynn Resorts.
Canadian firm James Bay Resources is taking Wynn Resorts to court for $3.8 million (approximately €3.572 million). The lawsuit claims that Wynn failed to properly investigate the funds of a high-roller gambler. Reportedly, this gambler, a businessman with a gambling addiction, utilized part of a loan from James Bay Resources to gamble at Wynn Las Vegas from 2018 to 2019.
According to an article from the Las Vegas Review-Journal, Wynn Resorts is facing a significant legal battle. James Bay Resources alleges that Wynn didn't properly vet the origin of $3.8 million belonging to gambler David Bunevacz.
Bunevacz reportedly funded part of his gambling sprees with a loan from James Bay Resources and lost it all at Wynn Las Vegas, a famous casino in the gambling hub of Las Vegas.
Bunevacz was handed over a 17.5-year prison sentence in the US in 2022. As a businessman, he deceived investors into giving him a total of $37 million (around €34.78 million), claiming he would invest it in cannabis vaporization device manufacturing companies. However, no such investments were ever made.
Additionally, Bunevacz was convicted of illegal securities trading in 2017. Through his own cannabis companies, he obtained more money from unsuspecting investors, resulting in a minimum loss of $28,409,112 (around €26,704,565) to his investors.
The lawsuit was initiated by James Bay Resources in April 2024 at the Ontario Court of Justice. The lawsuit states that a total of $3.5 million (around €3.2 million) was previously loaned to two other companies under Bunevacz's control.
James Bay Resources alleges that Wynn Resorts didn't conduct a thorough background check on Bunevacz. At the time of his visit to Wynn Las Vegas, he was on probation and had a history of tax evasion, civil lawsuits, and numerous tax liens and lawsuits filed against him. Wynn Resorts responded to the matter with the following statement:
Wynn had the chance to learn about Bunevacz's criminal background, as well as the existence of multiple tax liens and lawsuits against him. This information should have raised red flags about the source of Bunevacz's funds.– Statement from James Bay Resources, Las Vegas Review-Journal**
Furthermore, James Bay Resources alleges that Bunevacz showed signs of a gambling addiction.
The court's decision in the Wynn Resorts lawsuit is yet to be announced.
In light of this situation, some concerned individuals in Germany might express interest in learning about online casinos that prioritize responsible gambling practices and due diligence in vetting their high-roller clients.
Given the ongoing legal battle, online casinos in Germany might consider implementing stricter financial investigations into the funds of high-rolling gamblers, to ensure the integrity and safety of their operations.
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