As anticipated, the Nevada Gaming Commission (NGC) on Thursday sanctioned the $10.5 million settlement put forward by the Nevada Gaming Control Board (NGCB) as a penalty for money laundering imposed on Resorts World and its parent company, Genting Berhad.
The monetary penalty imposed by state gaming regulators — the second-largest in the history of Nevada gaming — addresses a 10-count disciplinary complaint, which revised a 12-count complaint submitted in August. The choice to endorse the settlement was reached at the commission’s monthly gathering in Las Vegas.
The penalty is only surpassed by the $20 million paid by Wynn Resorts Ltd. in 2019 for not adequately probing sexual harassment claims against its former CEO, Steve Wynn.
Under the settlement's terms, Resorts World and Genting neither acknowledge nor refute the claims made in the NGCB complaint.
Not according to the Guidelines
The NGCB claimed that Resorts World, under President Scott Sibella, permitted convicted federal felons and/or individuals linked to illegal bookmaking to gamble at its casino between 2021 and 2023.
The illicit bookmakers identified included Matthew Bowyer — who, as reported by the Associated Press, notably placed bets via the interpreter of LA Dodgers pitcher Shohei Ohtani — and Damien LeForbes, a gambler recognized as an illegal bookmaker by a casino host who referred clients to him, according to the NGCB.
Bowyer was permitted to wager on 80 distinct days from July 22, 2022, to Oct. 1, 2023, according to the NGCB, losing $7.9 million in bets while obtaining comps, promotional chips, discounts, flights on the Resorts World jet, and various other gifts.
LeForbes incurred a loss of $10 million at Resorts World from Sept. 1, 2022, to Dec. 16, 2023, as stated in the NGCB complaint, and also received gifts like comps and promotional chips. His association with Resorts World concluded when his casino host departed.
In August 2024, LeForbes admitted guilt in California for running an unlawful bookmaking operation and money laundering offenses.
Sibella lost his gaming license in a different inquiry last December. The investigation examined claims of gambling by unlicensed bookmakers dating back to Sibella’s management of the MGM Grand. A total fine of $7.45 million was imposed on the MGM Grand and Cosmopolitan of Las Vegas.
In the settlement, Resorts World has committed to enforcing tougher anti-money laundering measures and modifying its leadership structure.
Revamp
Since the NGCB complaint was initially lodged in August, Genting, based in Malaysia, has revamped its executive team in Las Vegas, appointing Alex Dixon as CEO in January. It established a board of directors led by former MGM Resorts International Chairman and CEO Jim Murren, which includes former NGCB chair A.G. Burnett and former Nevada Governor and Nevada Gaming Commission chair Brian Sandoval.
Although the settlement on Thursday addressed the issue at the state level, the NGCB stated it retains the right to seek additional disciplinary measures if federal authorities act against Resorts World.
The settlement approval occurs the day after Resorts World revealed it had terminated “under 50” full-time staff members, but did not specify reasons or job titles.
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