Wynn Las Vegas is ready to close the chapter on a money laundering case tied to its casino operations last year. The resort has agreed to a $5.5 million fine as part of a settlement with Nevada regulators, following a federal investigation that brought attention to unlicensed money transfers at the venue.
Good to know
- Wynn also forfeited $130 million to federal authorities in a related case.
- The Nevada Gaming Commission is set to review the settlement on May 22.
- Wynn may face extra compliance conditions added to its gaming license.
The Nevada Gaming Control Board (NGCB) wrapped up its own regulatory probe after federal authorities concluded their investigation. A key point in the NGCB statement was that Wynn Las Vegas cooperated fully throughout the process. Officials from the NGCB also confirmed that the final decision on approving the settlement will be made at the upcoming Nevada Gaming Commission meeting.
Acknowledgment and Accountability
Wynn Resorts responded to the agreement with a statement expressing a desire to move forward. Chief Communications Officer Michael Weaver addressed the situation directly, saying, “We are pleased that we have resolved this matter with the Nevada Gaming Control Board, which is the same matter Wynn Las Vegas resolved with the US Attorney’s office in September 2024.”
He continued, “The improper actions that are the subject of the settlement, which violated Wynn’s own compliance policies and procedures, were undertaken by individuals with whom we severed ties years ago. We accept responsibility for those actions and are now glad the matter will soon be fully resolved.”
Settlement and Future Oversight
The $5.5 million penalty is part of a broader resolution package. Wynn Las Vegas also admitted to allowing unlicensed money transfers to players during 2024. Alongside the financial penalty and the $130 million forfeiture, the company could face further conditions. These may include staff training focused on anti-money laundering practices and new internal compliance standards.
Although the company has moved on from the individuals responsible, regulators may still push for stricter oversight to prevent similar issues.
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