Nevada Gaming Control Board approves Wynn Las Vegas $5.5M settlement after compliance violations
May 22, 2025 | Nevada Gaming Control Board, Executive Agencies, Organizations, Executive, Nevada
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The Nevada Gaming Commission convened on May 22, 2025, to discuss a significant settlement involving Wynn Las Vegas LLC, stemming from a complaint filed by the Nevada Gaming Control Board. The complaint, which included six counts, primarily arose from a non-prosecution agreement (NPA) with the U.S. Attorney's Office related to violations of federal law concerning unlicensed money transmitting businesses.
During the meeting, Nona Lawrence from the Attorney General's office presented the details of the complaint, highlighting that Wynn Las Vegas was implicated for accepting funds from unregistered money transmitting businesses. The allegations included proxy betting practices and improper handling of patron cash, which raised concerns about compliance with anti-money laundering (AML) regulations.
Wynn Las Vegas has agreed to a settlement that includes a fine of $5.5 million and several conditions aimed at enhancing its AML compliance program. These conditions require the company to maintain and improve its existing AML measures, conduct annual reviews, and ensure proper training for employees and independent agents. The settlement reflects Wynn's commitment to addressing past violations and implementing robust compliance practices.
Commissioners expressed mixed feelings about the settlement amount, with some questioning whether it adequately reflected the severity of the violations. Commissioner Solis Rainey voiced concerns that the fine was too low compared to recent penalties imposed on other gaming operators for similar issues. In contrast, other commissioners acknowledged the steps Wynn has taken to improve its compliance culture since the incidents occurred.
The commission ultimately voted to approve the settlement, emphasizing the importance of maintaining high standards within the gaming industry and the need for ongoing vigilance in compliance efforts. The outcome of this meeting underscores the regulatory body's commitment to ensuring that gaming operators adhere to legal and ethical standards, while also recognizing the efforts made by Wynn Las Vegas to rectify past shortcomings.
During the meeting, Nona Lawrence from the Attorney General's office presented the details of the complaint, highlighting that Wynn Las Vegas was implicated for accepting funds from unregistered money transmitting businesses. The allegations included proxy betting practices and improper handling of patron cash, which raised concerns about compliance with anti-money laundering (AML) regulations.
Wynn Las Vegas has agreed to a settlement that includes a fine of $5.5 million and several conditions aimed at enhancing its AML compliance program. These conditions require the company to maintain and improve its existing AML measures, conduct annual reviews, and ensure proper training for employees and independent agents. The settlement reflects Wynn's commitment to addressing past violations and implementing robust compliance practices.
Commissioners expressed mixed feelings about the settlement amount, with some questioning whether it adequately reflected the severity of the violations. Commissioner Solis Rainey voiced concerns that the fine was too low compared to recent penalties imposed on other gaming operators for similar issues. In contrast, other commissioners acknowledged the steps Wynn has taken to improve its compliance culture since the incidents occurred.
The commission ultimately voted to approve the settlement, emphasizing the importance of maintaining high standards within the gaming industry and the need for ongoing vigilance in compliance efforts. The outcome of this meeting underscores the regulatory body's commitment to ensuring that gaming operators adhere to legal and ethical standards, while also recognizing the efforts made by Wynn Las Vegas to rectify past shortcomings.
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