On Friday (16 August) Genting Berhad, the company that owns Resorts World Las Vegas, released a brief statement in response to the anti-money laundering (AML) violations brought by the Nevada Gaming Control Board (NGCB) last week.
In the statement, the company wrote that “GENT and its subsidiaries are committed to doing business with the utmost integrity and in line with applicable laws and industry guidelines”.
The NGCB on Thursday (15 August) filed a list of violations that bring into question how seriously the company takes compliance. It also linked Resorts World to the California sports betting scandal. The company allegedly laundered millions of dollars from illegal bookmaker Mathew Bowyer over an 18-month period.
During that time, per the complaint, Bowyer gambled on credit while casino employees acknowledged that he was an illegal bookmaker. Bowyer pleaded guilty to three federal charges related to his business earlier in August.
Genting outlined the issues in its statement. It also outlined potential actions the NGCB and its regulatory partner, the Nevada Gaming Commission, might take. Key violations described by the NGCB include Resorts World’s failure to establish a source of funds from suspected bookmakers and to bar, ban or restrict two alleged illegal bookmakers and a convicted operator of an illegal gambling business from the casino.
NGCB concerned about “culture of compliance”
In addition, two casino employees failed to report the suspected bookmakers to higher-ups. Both allegedly referred customers to the illegal bookmakers. Other violations include that the casino contracted with one suspected bookmaker’s wife to be an independent agent. She then acted as a casino host for the illegal bookmaker.
In general, the NGCB has key concerns about Resorts World’s culture of compliance.
In the statement, Genting wrote that it understands it may be fined and/or disciplined and could potentially lose its licence. The regulators also have the right to assign a supervisor, if “the Commission revokes or suspends RWLV LLC’s nonrestricted gaming licence”.
“The allegations relate to operational issues at Resorts World Las Vegas,” the company wrote. “GENT and RWLV LLC take any suggestion of violations very seriously.”
The company also wrote that is has “sought legal advice” and “looks forward to resolving the issues raised by the NGCB and continuing to ensure that business practices at Resorts World Las Vegas meet all regulatory and legal requirements”.
