Wynn Las Vegas Faces $5.5 Million Penalty for Money Laundering Infraction, as Per Gaming Authorities' Decision
Posted on: May 15, 2025, 11:17h.
Last updated on: May 16, 2025, 06:20h.
Corey Levitan Read More
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Wynn Resorts is coughing up a $5.5 million fine to settle money-laundering charges, as revealed by the Nevada Gaming Control Board (NGCB). These accusations have deep roots, stretching back to 2024, when the company was also hit with the largest fine ever for a US casino ($130.13 million) by the Department of Justice.
The same charges, including operating unsympathetic methods, facilitating international monetary transactions, and allowing proxy betting, were at the heart of a nonprosecution agreement (NPA) between Wynn Las Vegas and the US Attorney's Office for the Southern District of California.
The NGCB investigation, aided by the DEA, IRS, and the Department of Homeland Security, found Wynn Las Vegas violating anti-money laundering regulations. The resort company knowingly welcomed some shady Chinese clients, including an individual who served time in China for financial wrongdoings, to gamble at the Strip resort.
In their agreement with the government, Wynn Las Vegas admitted fault and stated that employees involved in questionable transactions are no longer part of the company. A spokesperson for Wynn Resort told Casino.org that the company is "committed to acting with the highest integrity and in full compliance with all laws and regulations."
Vegas Strip's Tainted Cash
Wynn Resorts isn't the only Vegas Strip operator dealin' with multimillion-dollar money-laundering fines. In March, Resorts World scrounged together a $10.5 million settlement to settle charges related to 2022 and 2023. Around the same time, MGM Resorts agreed to a $8.5 million fine for illegal transactions between 2017 and 2019.
These charges were tied to Scott Sibella, ex-president of both casinos who pleaded guilty in 2024 for violating the federal Bank Secrecy Act. Sibella was fired from Resorts World in 2023 and was sentenced to one year's probation, a $9,500 fine, and a five-year gaming license revocation by the NGCB.
The NGCB fine against Wynn Resorts will be subject to approval at the May 22 Nevada Gaming Commission meeting.
Additional Insights:
In the cutthroat world of Las Vegas gambling, regulatory bodies like the NGCB hold a crucial position, ensuring strict adherence to compliance standards. With the appointment of Mike Dreitzer as Chairman, the regulatory framework is expected to evolve in response to new challenges, such as reduced tourism and economic pressures[1]. However, specific recent trends or details related to money laundering fines for major casinos like Wynn Resorts, MGM Resorts, and Resorts World Las Vegas are scarce in the search results.
Elsewhere, regulatory actions against casinos for non-compliance with anti-money laundering and gaming regulations have occurred. For instance, the AGCO in Ontario recently imposed penalties for a cheating scheme at a casino[2]. These cases underscore the significance of stringent compliance measures in the gaming industry. To gain specific information about money laundering fines at these casinos, it's best to consult focused sources or news outlets that cover these companies directly.
- The money-laundering charges against Wynn Resorts have resulted in a $5.5 million fine, as stated by the Nevada Gaming Control Board (NGCB).
- The same charges that led to the current fine were also present in a nonprosecution agreement (NPA) between Wynn Las Vegas and the US Attorney's Office for the Southern District of California.
- Scott Sibella, ex-president of both Resorts World and MGM Resorts, pleaded guilty in 2024 for violating the federal Bank Secrecy Act.
- Sibella was fired from Resorts World in 2023 and was sentenced to one yearβs probation, a $9,500 fine, and a five-year gaming license revocation by the NGCB.
- Wynn Resorts is not alone in dealing with money-laundering fines on the Vegas Strip, as Resorts World and MGM Resorts have also settled for multimillion-dollar fines tied to illegal activities.
- The federal agencies involved in the NGCB investigation included the DEA, IRS, and the Department of Homeland Security.
- In the casino-and-gambling industry, the NGCB plays a crucial role in ensuring responsible gambling and adherence to regulations, especially amid economic pressures and reduced tourism.
- Specific details related to money laundering fines for major casinos like Wynn Resorts, MGM Resorts, and Resorts World Las Vegas may be limited in general search results, making it necessary to consult focused sources or news outlets that cover these companies directly.
