Wynn Resorts Ltd. has agreed to pay a $5.5 million settlement to the Nevada Gaming Control Board due to its involvement with unlicensed money transmitting businesses in a scheme aimed at attracting high rollers. This settlement comes as part of resolving a larger investigation that resulted in Wynn forfeiting $130.1 million under a nonprosecution agreement with the U.S. Attorney’s Office for the Southern District of California and the Department of Justice.
In a statement, Wynn Resorts emphasized its commitment to compliance and integrity, acknowledging the misconduct and highlighting that those responsible were dismissed years ago. The company will continue to maintain and enhance its anti-money-laundering (AML) program, retain relevant training records, and ensure compliance through internal audits and reporting.
Wynn has restructured its leadership team since the incidents, appointing new executives including CEO Craig Billings and Chief Global Compliance Officer Omar Khoury. The company has also established an independent compliance committee to oversee adherence to regulations.
The federal investigation revealed that Wynn contracted with third-party agents acting as unlicensed money transmitting businesses to facilitate foreign gamblers’ activities at the resort, bypassing monetary transfer and reporting laws. The settlement with federal authorities is reportedly the largest ever for a casino.
If approved, the $5.5 million fine would rank as the fifth highest ever imposed by the state. Since 2019, Nevada fines related to Wynn have totaled $35.5 million, including a $20 million penalty for failing to properly investigate sexual harassment allegations. Other recent fines in the industry include $10.5 million against Resorts World Las Vegas and $8.5 million against MGM Resorts International for money laundering infractions.