• Wynn Resorts and the NGCB enter a stipulation for settlement
• The settlement has to do with various anti-money laundering laws violations
• Wynn will most likely pay $5.5m to the regulator

The Nevada Gaming Control Board (NGCB) has continued to put the heat on gambling operators in the Silver State, with a third potential fine now issued to a local major over the past three months.

NGCB and Wynn Resorts close to settling over past money-laundering failures

On Thursday, the NGCB announced a stipulated settlement with Wynn Resorts, with the company supposedly agreeing to pay $5.5m million over "unregistered international money transmissions," and specifically various anti-money laundering laws violations.

This decision comes only a few months after Resorts World Las Vegas was fined and agreed to pay $10.5m to the regulator in March. Later in April, MGM Resorts International was hit with a penalty of its own, agreeing to pay an $8.5m fine.

Among the reasons cited for working on the settlement are improper cash payments, proxy betting, and other failures as detailed in a complaint that granted the company immunity. The immunity deal was reached with federal prosecutors in September 2024 and can be examined here.

The company admitted at the time that it had indeed allowed third parties to place bets on behalf of gamblers, including depositing money on their behalf as well as settling debts. Wynn Resorts also admitted to allowing instances of proxy betting for customers it valued but who did not want to gamble under their name.

Wynn Resorts is happy to move on

One of the reasons why this was the case was that the person would not be able to access money in the United States. Wynn Resorts detailed the settlement proceedings, and issued a statement on Friday, in which it confirmed that the matter has been resolved with the regulator, and apologized for past oversights:

"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."

The company has faced other issues in the recent past. As part of its non-prosecution settlement in September, the company agreed to forfeit $130m, which is the largest penalty a gaming company in the Silver State has paid to the US Department of Justice, even though Wynn Resorts specified at the time that the forfeiture was not tantamount to a fine or a penalty.

As to the newest case citing the violations of anti-money laundering laws, the people who were involved at the time in facilitating proxy betting are no longer employed with the company, Wynn confirmed.

Image credit: Wynn Resorts