Wynn Resorts is the third Vegas casino operator in as many months to be fined in Nevada for alleged AML breaches.
Wynn Resorts, the casino operator and developer behind the Al-Marjan Island project in Ras Al-Khaimah, has agreed to pay a US $5.5 million fine to settle anti money laundering (AML) allegations in Nevada.
The Nevada Gaming Control Board (NGCB) alleged that Wynn Resorts (via a subsidiary, Wynn Las Vegas, LLC) failed to fulfil its AML obligations including in relation to international transactions and proxy betting.
In addition to the financial penalty, the settlement also obligates Wynn Las Vegas to make improvements to its AML program and implement additional training to enhance employee awareness of AML requirements.
The settlement, while significant, is nevertheless less than half the US $10.5 million agreed by Resorts World Vegas to settle its own AML compliance issues in Nevada.
MGM Resorts, which is developing a resort in Dubai that it hopes will operate gaming facilities in the future, also agreed a significant (US $8.5 million) settlement with the NGCB in April.
