Casino Resort World Las Vegas Slapped with $10.5 Million Penalty for Condoning Unlawful Betting Syndicates
X-posting from Buck Wargo's website, here's the scoop on Resorts World Las Vegas and its tangled mess with the Nevada Gaming Control Board (NGCB). After a six-month investigation, the NGCB filed a 31-page complaint against the casino giant, claiming it provided a cozy environment for underground bookmakers, mobsters, and outlaws, you name 'em.
The alleged wrongdoings revolve around a rampant lack of adherence to anti-money laundering (AML) protocols, with Resorts World conveniently turning a blind eye on suspicious activity for the sake of fattening their pockets. The complaint goes on to name a slew of known criminals who placed questionable wagers totaling in the millions, all while the casino's top brass stood idly by.
One of these dubious high-rollers was Mathew Bowyer, who copped to running an illicit gambling ring, money laundering, and tax fraud. In addition, there's Edwin Tingβcondicted of operating an illegal gambling ring and Senator Crimes Commission, and Chad Iwamoto, who was nabbed for tax evasion and transmitting wagering data.
With the NGCB's steamroller logo pointed right at them, Resorts World coughed up a whopping $10.5 million in fines to settle the matter. Alongside the hefty sum, Resorts World is obligated to overhaul its AML policies, bolster employee training, and submit to regular internal audits. Moreover, the casino needs to report any instances of regulatory scrutiny or criminal investigation to the NGCB.
As for Resorts World, they claim they're vying to be the shining example of industry-leading compliance practices, making changes to their AML program and booting patrons with criminal records tied to gambling or money laundering since 2023.
Ex-bigwigs like Scott Sibella, who had his gaming license revoked in a similar scandal at MGM Grand, have already bailed out, with Alex Dixon and Carlos Castro taking over the helm. To top it off, Resorts World even created a Board of Directors to oversee compliance and regulatory oversight. Figures like former MGM Resorts International CEO Jim Murren, former chair of the Gaming Control Board, A.G. Burnett, former Governor Brian Sandoval, and industry veteran Michelle DiTondo have all signed on.
Now, the Regulation Committee will discuss the case next Thursday before reaching a final decision. Let's see if Resorts World can live up to the new clean-as-a-whistle image they're trying to project.
- The Nevada Gaming Control Board (NGCB) alleges that Resorts World Las Vegas provided a suitable environment for illicit bookmakers, mobsters, and criminals in general, contrary to the casino's supposed adherence to anti-money laundering (AML) protocols.
- The 31-page complaint filed by the NGCB accuses Resorts World of turning a blind eye to suspicious activities, which led to millions of dollars in questionable wagers placed by known criminals.
- The casino agreed to pay a settlement of $10.5 million to the NGCB, as well as implement new AML policies, enhance employee training, and submit to regular internal audits.
- In addition, Resorts World is required to report any instances of regulatory scrutiny or criminal investigation to the NGCB moving forward.
- As a precautionary measure, Resorts World has been removing patrons with criminal records linked to gambling or money laundering since 2023, aiming to project an image of industry-leading compliance practices.
