Wynn Las Vegas Faces a Fine of $5.5 Million for Money Laundering Violations, as Decided by Gaming Authorities
Posted on: May 15, 2025, 11:17h.
Last updated on: May 15, 2025, 11:28h.
Corey Levitan Insight
The Nevada Gaming Control Board (NGCB) announced that it reached an agreement with Wynn Resorts, forcing the company to pay a $5.5 million fine for money-laundering charges. This is the largest fine for a US casino to date, beating the previous record of $130.13 million settled last year.
The resort company's misconduct, as revealed in a government investigation conducted by the DEA, IRS, and the Department of Homeland Security, resulted in multiple anti-money laundering rule violations, including knowingly allowing certain ill-reputed Chinese clients to wager at Wynn Las Vegas. A standout example involves a Chinese patron who had spent six years in prison for money laundering and financial law violations.
Wynn Las Vegas's NPA with the government acknowledged the wrongdoing, with the company stating it has several anti-money laundering protocol reinforcements in place. The company also mentioned that the staff involved in the questionable transactions are no longer employed by the company.
Vegas's Dirtiest Secret Revealed
Astonishingly, Wynn Resorts is the third Las Vegas Strip operator to receive a multimillion-dollar money laundering fine within the past two months. In March, Resorts World paid the NGCB $10.5 million for similar money laundering charges, and MGM Resorts agreed to pay a $8.5 million fine in April. These charges were all linked to Scott Sibella, the former 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 later received a year's probation, a $9,500 fine, and a five-year revocation of his gaming license.
The NGCB fine against Wynn Resorts is set to be voted on at the May 22 Nevada Gaming Commission meeting. An overview of recent fines and Scott Sibella's involvement:
Recent Fines
- MGM Resorts: MGM Resorts agreed to pay an $8.5 million fine tied to the illegal activity of two bookmakers, Wayne Nix and Mathew Bowyer. The violations included allowing these bookmakers to gamble with illicit funds ad failing to report cash transactions correctly.
- Resorts World: Resorts World Las Vegas paid a $10.5 million fine in March for money laundering charges, making it the second-largest fine in Nevada history.
- Wynn Resorts: Facing a $5.5 million fine set to be discussed in the May 22 Nevada Gaming Commission meeting for money-laundering misconduct.
Scott Sibella's Involvement:
Scott Sibella, the former president of MGM Grand, was involved in the MGM Resorts money laundering case. Sibella allowed illegal bookmakers to gamble with illicit funds, despite being aware of their tainted funds. He was later sentenced to a year's probation, a $9,500 fine, and a five-year revocation of his gaming license.
Historical Context:
Nevada has been cracking down on money laundering activities, as seen through these recent fines. The Nevada Gaming Control Board (NGCB) handles investigations, and the Nevada Gaming Commission (NGC) makes final rulings. The ongoing efforts to enhance anti-money laundering practices in Las Vegas casinos aim to comply with federal and state regulations and deter illicit activities.
- The Nevada Gaming Control Board (NGCB) imposed a $5.5 million fine on Wynn Resorts for money laundering charges, marking the largest fine for a US casino to date.
- Wynn Resorts' misconduct, exposed during a government investigation, involved multiple violations of anti-money laundering rules, including allowing known money launderers to gamble at Wynn Las Vegas.
- Scott Sibella, the former president of both MGM Resorts and Resorts World, pleaded guilty in 2024 for violating the federal Bank Secrecy Act and was later fired and received a fine and gaming license revocation.
- In March, Resorts World paid the NGCB $10.5 million for money laundering charges, and MGM Resorts agreed to pay an $8.5 million fine in April, both linked to Scott Sibella's involvement.
- Wynn Las Vegas's NPA with the government acknowledged the wrongdoing and stated that the staff involved in the questionable transactions are no longer employed by the company.
- The NGCB fine against Wynn Resorts is set to be voted on at the May 22 Nevada Gaming Commission meeting, following the recent fines placed on MGM Resorts and Resorts World for similar charges.
- The Nevada Gaming Control Board (NGCB) and the Nevada Gaming Commission (NGC) are working to enhance anti-money laundering practices in Las Vegas casinos to comply with federal and state regulations and deter illicit activities within the casino-and-gambling culture, particularly focusing on casino-personalities like Scott Sibella.
