Wynn Agrees to Pay $5.5M Fine for Anti-Money Laundering Violations

The Nevada Gaming Commission (NGC) levied a $5.5 million fine against Wynn Resorts on Thursday as part of a settlement over the company’s violation of anti-money laundering laws.

NGC commissioners voted 4-1 to approve a stipulation of settlement related to a complaint from the Nevada Gaming Control Board (NGCB) over Wynn’s use of unlicensed money transmitting businesses.

Wynn Becomes Latest Vegas Firm Fined for Gaming Violations

Commissioner Rosa Solis-Rainey was the one vote against the settlement. Solis-Rainey opposed the agreement on the grounds that the fine was too low compared to other recent punishments for casino companies engaged in similar activities.

Wynn used the money transmitting businesses in an effort to recruit high rollers to its casinos. In a statement, Wynn noted that it had fired the individuals responsible for the violations.

“Wynn Resorts is committed to acting with the highest integrity and in full compliance with all laws and regulations governing our industry,” Wynn said in its statement. “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 fine was the third issued against a major Las Vegas casino operator in the last three months. In March, Resorts World Las Vegas agreed to pay a $10.5 million fine after allowing illegal bookmakers to gamble millions and pay debts in cash. MGM Resorts agreed to an $8.5 million fine in April for similar violations. 

Commissioner: Bad Actors Are ‘Like Invasive Fish Species’

But while the settlement may be the extent of the punishment issued against Wynn, NGC commissioners say the damage has been done – and that incidents like these aren’t over when a company lets go of the individuals responsible.

“Those people are not out of the job market,” Commissioner George Markantonis said, adding that the incident damages the reputation of both Wynn and the broader Nevada gaming industry. “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.”

The agreement with Nevada gaming officials comes after Wynn reached a non-prosecution agreement with the US Attorney’s Office for the Southern District of California and the US Department of Justice in September 2024. In that agreement, the company forfeited 'link_text_goes_here','CC - News - US - Article','52680','','','','gtm-content-internal-links'30.1 million to end the investigation into its compliance issues. 

The issue involved the use of third-party independent agents recruiting foreign gamblers to Wynn Las Vegas. Those agents would transfer gamblers’ funds through other third parties in Latin American and elsewhere to get around anti-money laundering rules, both to have funds available to gamble or to repay debts to the casino. These techniques allowed gamblers to avoid monetary transfer and reporting laws in multiple countries, including the United States. 

(Photo: Eddie Rodriguez / Alamy)