Wynn Resorts fined $5 million for illegal player solicitations

In response to a complaint, Wynn Resorts Ltd. was fined $5.5 million by the Nevada Gaming Commission. This is the third significant fine imposed on a Strip resort this year for failing to monitor and report large-scale criminal activities.

A stipulation of settlement was approved by a 4-1 vote of commissioners. Rosa Solis-Rainey, the lone vote against approval, felt that the fine was not enough in comparison to other recent disciplinary measures.

The Nevada Gaming Control Board Enforcement Division filed the complaint, which concerns Wynn's use of unauthorized money-transmitting companies in an attempt to attract high rollers.

The company, which apologized and had previously released a statement the day after the allegation was made public, has fired the employees engaged in the incident.

“Wynn Resorts is committed to acting with the highest integrity and in full compliance with all laws and regulations governing our industry,” the Wynn statement said. “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.”

Although arguably Wynn's illicit money transfer was not money laundering, commissioners stated that the actions had significant money laundering ramifications. According to Commissioner George Markantonis, the event has seriously harmed Wynn's reputation.

Markantonis said, “Those people are not out of the job market. They weren’t locked up. They’re like invasive fish species. Somebody threw them back in the lake and they’ll pop up at other casinos and resorts going forward.”

Wynn paid over $130 million in a non-prosecution agreement with the U.S. Attorney’s Office for the Southern District of California and the U.S. Department of Justice to stop the investigation in 2024. None of the employees who caused the issues went to prison; there were no criminal convictions as a result of the actions. All criminal cases were dropped in return for the payments.

Many observers were dismayed by the lack of criminal penalties, believing the authorities were more interested in extracting money from the casinos than prosecuting those involved. A longtime Las Vegas-based advantage player who is known by the pseudonym "LV Bear" commented, “It’s business as usual. Criminals who work for casinos never go to prison. This goes back to the days of the Venetian cheaters. There have been so many crooks who work for casinos. There is never any meaningful punishment. Their employers merely pay money to the government and everybody goes back to work like nothing happened. They are not even banned from the casino business. They just go to work down the street at the next place. It's truly shameful.”

Commissioners were briefed on the allegation by Phil Satre, the chairman of the Wynn Resorts Board, and important compliance officers.

The third disciplinary measure

Wynn is now the third Strip-based business to receive a multimillion-dollar penalty from the commission for a disciplinary action.

In two separate money laundering cases, the Gaming Commission fined Resorts World Las Vegas $10.5 million in March and MGM Resorts International $8.5 million in April.

State gambling officials ranked the Wynn fine as the fifth-highest amount ever. Wynn has been hit with $35.5 million in Nevada fines since 2019, including a record $20 million in 2019 for failing to adequately look into claims of sexual abuse made by female employees.

The company shall continue to maintain its anti-money laundering program, keep all records pertaining to AML training, and maintain AML training materials for its independent agents, according to the settlement agreement that the company signed.

With a report due in two years, Wynn's internal audit team will have to examine, assess, and report on the company's adherence to its AML policy. Program modifications must be communicated to regulators.

Additionally, Wynn must maintain a suitable number of staff members committed to AML compliance and disclose any changes within five business days, according to the conditions.

The dishonest employees are no longer employed by Wynn

The employees responsible for the dishonest and/or illegal activity were terminated by the company, which stated in the stipulation that “Wynn Las Vegas has worked hard over the last 20 years to develop and foster a strong culture of compliance, with the goal of achieving a ‘best-in-class’ compliance program.”

“Unfortunately, a few former employees failed to adhere to the company’s clear compliance directives by allowing certain customers and independent agents to engage in the unlawful conduct as described in the complaint that clearly violated Wynn Las Vegas policies and procedures,” the company said in the stipulation. “Wynn Las Vegas immediately commenced an internal investigation and separated not only the employees involved in the misconduct, but also several employees who were aware of the misconduct and did not report it to Wynn Las Vegas, as required under the AML program.”

According to the Justice Department, Wynn was penalized by federal officials in September for frequently hiring independent third-party agents who were operating as unauthorized money-transmitting companies to bring in overseas gamblers to the resort. The independent agents moved the gamblers' money through businesses, bank accounts, and other third parties in Latin America and abroad, and finally into a bank account under Wynn's control within the Southern District of California, so that the gamblers could pay back debts to Wynn Las Vegas or have money available to gamble there.

The Wynn cage account received funds that had been deposited into the Wynn-controlled account. Federal prosecutors claim that staff members eventually credited each individual customer's Wynn account while collaborating with independent agents and with their bosses' knowledge. Foreign gamblers at Wynn were able to circumvent both U.S. and foreign regulations pertaining to financial reporting and transfer due to the complex nature of the transactions.

Source:

“Wynn Resorts fined $5.5M for illegal scheme to recruit high-rollers” , Richard N. Velotta, lvrj.com, May 22, 2025.