Las Vegas Sands to pay US$2 million fine
The major casino brand has not yet clarified whether they are guilty of the charges or not.
US.- Nevada Gaming Control Board reached an understanding with Las Vegas Sands Corporations after the company cooperated with the investigations. Las Vegas Sands will pay US$2 million fine to the State for operating its casino in an “unsuitable manner.” Three years before, the casino brand paid US$47 million fine and accepted Justice Department’s assertion in order to avoid criminal prosecution for failing to report suspicious financial activity by one customer.
Nevada Gaming Control Board has the power to revoke casino licenses and sentence operators in case of gambling-law violations. However, the Las Vegas authorities will wait until federal agencies continue the investigation on Sands’ accounting reports. So far, the gaming brand is paying the fine in Nevada plus the US$9 million fine set in Macau after another agreement with the Securities and Exchange Commission.
In China, gaming regulators claimed that the company had not been implementing strong accounting controls in its operations. The allegations investigated the Corporation’s sponsorship of a Chinese basketball team, an agreement with a Macau ferry and a project planned in Beijing. Las Vegas Sands will maintain its cooperation with both governments to clear its image.
