The Nevada Gaming Control Board announced late Thursday that it has reached a settlement with Wynn Resorts over unregistered international money transmissions, in which the Las Vegas Strip operator will be fined $5.5 million.
The fine, which will be voted on by the Nevada Gaming Commission at its May 22 meeting, follows recent comparable penalties handed down to MGM Resorts International and Resorts World Las Vegas, making it the third major penalty issued since March.
In addition to the $5.5 million fine, the agreement places conditions on the gaming license of Wynn Resorts. The proposed settlement also details numerous remedial measures to Wynn’s anti-money-laundering (AML) program as well as additional training and employee awareness of AML requirements.
In September, Wynn Resorts said it will forfeit $130 million to the federal government to settle criminal allegations that it conspired with unlicensed money-transmitting businesses worldwide to transfer funds to benefit itself.
Wynn reached a “non-prosecution agreement” with the U.S. Department of Justice to resolve the 10-year-old investigation over unlicensed money transfers from around the world funneling funds to gamblers at Wynn Las Vegas.
“The 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 that were contained in a non-prosecution agreement between the U.S. Attorney’s Office for the Southern District of California and Wynn Las Vegas,” the Gaming Control Board said.
The Board complaint details instances in which former Wynn employees allowed international patrons to obtain and transfer money improperly for wagering, and allowed wagers to be placed for other patrons at Wynn Las Vegas in violation of the gaming licensee’s AML compliance program.
“During the pendency of the federal investigation, Wynn Las Vegas kept the Nevada Gaming Control Board apprised of the matter,” the Board said. “Upon resolution of the federal case, the NGCB enforcement agents completed a separate regulatory investigation and received full cooperation from Wynn Las Vegas throughout the investigation.”
The Nevada Attorney’s General’s Office and counsel for Wynn will explain the terms of the proposed situation at next week’s Commission meeting and request approval by the Commission.
In March, Resorts World Las Vegas accepted a $10.5 million fine from the Commission on allegations it catered to illegal bookmakers involving millions of dollars.
In April, MGM Resorts International apologized for accepting nearly $5 million in wagers from illegal bookmakers and accepted a $8.5 million fine from the Commission.
