Genting Berhad-owned casino operator Resorts World Las Vegas (RWLV) has agreed a proposed $10.5 million settlement with the Nevada Gaming Control Board (NGCB).
RWLV had been facing disciplinary action over alleged significant anti-money laundering (AML) failings, brought to light by the regulator in a disciplinary complaint last August.
The proposed Stipulation for Settlement seeks to resolve an amended complaint, contemporaneously filed against RWLV this week, alleging unsuitable methods of operation primarily resulting from activities at the licensed property by illegal bookmakers Mathew Bowyer and Damien LeForbes.
The deal includes a fine of $10,500,000 payable to Nevada’s General Fund, and dictates specific conditions be placed on RWLV gaming licenses. It also addresses “wholesale changes” to executive leadership at RWLV, and details numerous remedial measures implemented at the casino.
“The majority of conditions and remediations focus on additional or increased requirements in the RWLV anti-money laundering program,” said the NGCB. “Within the Stipulation is an acknowledgement that if any federal criminal, civil, or administrative action is taken against RWLV regarding the allegations in the Amended Complaint or otherwise, the NGCB reserves the right to file a separate disciplinary complaint based on the federal action.”
The Nevada Gaming Commission (NGC) is scheduled to consider approval of the Stipulation at its monthly meeting on 27 March in Las Vegas.
At that time, counsel for RWLV and the Nevada Attorney General’s Office will explain the terms of the proposed Stipulation and request NGC approval of the negotiated settlement.
A spokesperson for Resorts World Las Vegas said: “Resorts World Las Vegas has reached a pending settlement with the Nevada Gaming Control Board (NGCB). We look forward to the Nevada Gaming Commission considering the settlement and ultimately resolving this matter.”