The Nevada Gaming Commission has agreed a settlement – including a US$10.5-million fine – to end a multi-count complaint by its enforcement unit against Resorts World Las Vegas LLC, the operator of the Resorts World Las Vegas complex (pictured) in the Nevada casino hub.
The deal was accepted at a Commission meeting on Thursday, attended by members of a new governance team for the property, including industry veteran Jim Murren, former Nevada Gaming Control Board chairman AG Burnett, and former Nevada governor Brian Sandoval.
The settlement – involving reportedly the second-largest fine in Nevada gaming regulation history – saw the respondents, including Malaysia’s Genting Bhd and five other entities, neither admit nor deny wrongdoing over allegations including flouting of anti-money laundering procedures at the property.
A 31-page complaint from the Nevada Gaming Control Board filed in August last year had alleged that “agents uncovered a lack of compliance within Resorts World [Las Vegas] which allowed a culture that welcomed certain individuals with suspected or actual ties to illegal bookmaking, histories of federal felony convictions related to illegal gambling business, and ties to organised crime”.
Last week Resorts World Las Vegas LLC had said in a statement sent to GGRAsia it looked “forward to the Nevada Gaming Commission considering the settlement and ultimately resolving this matter.”
On Monday, ahead of the settlement, Maybank Investment Bank Bhd said it thought resolution of the situation “will encourage gamblers to return” to the property. The bank noted that fourth-quarter earnings before interest, taxation, depreciation and amortisation had “plunged” to circa US$1.5 million,” compared to 2023’s quarterly average of US$48.8 million.
The property has laid off nearly 50 employees as part of “efficiency” efforts, according to a statement sent this week to local media.
