Wynn Las Vegas agrees to pay $5.5m fine in Nevada
The Nevada Gaming Control Board issued the penalty in relation to AML breaches linked to unregistered money transfers and proxy betting.
US.- Wynn Las Vegas has agreed to pay an $5.5m penalty for anti-money laundering breaches related to unlicensed money transfers. The settlement adds conditions on Wynn LV gaming licence, including to improve the casino operator’s AML programme and provide training and awareness for employees.
The penalty relates to unregistered international money transfers, proxy betting and other transactions banned under a non-prosecution agreement with the US Attorney’s Office for the Southern District of California. The NGCB says former employees let international guests improperly transfer or obtain money for gambling. They also allowed bets to be placed on behalf of other patrons, which violated Wynn LV’s anti-money laundering (AML) rules.
The agency said: “During the pendency of the federal investigation, Wynn LV kept NGCB agents apprised of the matter. Upon resolution of the federal case, NGCB Enforcement Agents completed a separate regulatory investigation and received full cooperation from Wynn LV throughout the investigation.”
The Nevada Gaming Commission (NGC) will decide whether to approve the Nevada Gaming Control Board’s (NGCB) proposed Stipulation for Settlement at its meeting on May 22.
In March, the NGCB fined Resorts World Las Vegas and its parent companies $10.5m for AML violations relating to two illegal bookmakers awaiting sentencing. In April, it imposed an $8.5m penalty on MGM Resorts International for unlicensed bookmaking at the MGM Grand and the Cosmopolitan of Las Vegas.
Wynn Resorts revenue decreases in Q1
For the first quarter ended March 31, 2025, Wynn Resorts’ operating revenue was $1.70bn for Q1, a decrease from $1.86bn for the first quarter of 2024. Net income was $72.7m compared to $144.2m for the first quarter of 2024. Adjusted Property EBITDAR was $532.9m, compared $646.5m for the same period in 2024.
Craig Billings, CEO of Wynn Resorts, said: “Our first quarter results reflect continued strength throughout our business. In Las Vegas, where we recently celebrated the resort’s 20th anniversary, the team delivered healthy results against a record prior year comparison which reflected the Las Vegas Super Bowl. In Macau, while VIP hold negatively impacted results, we held market share in our expected range, and announced an increased dividend from Wynn Macau, Limited, reflecting the strong free cash flow generated by the business.
“In addition, construction of our growth project in the UAE, Wynn Al Marjan Island, continued to advance with the hotel tower reaching the forty-seventh floor. At the same time we continued to return capital to shareholders through our regular quarterly dividend and the repurchase of $200 million of stock in the quarter.”
