Mathew Bowyer, a convicted illegal bookmaker, has continued to pose challenges for the Las Vegas Strip even after being barred from state casinos. The Venetian has recently agreed to a $7.2 million fine due to violations of anti-money laundering regulations associated with Bowyer. On June 25, the Nevada Gaming Control Board (NGCB) filed a stipulated settlement agreement along with a four-count complaint. This information was first disclosed by the Nevada Independent.
The investigation into Bowyer's activities at the Venetian resembles previous inquiries involving Resorts World Las Vegas, MGM Resorts, and Caesars Entertainment, all of which faced similar issues last year. Each of these casinos, including the Venetian, failed to properly verify Bowyer's source of funds and did not take action against him despite having suspicions or direct knowledge of his illicit bookmaking activities.
Bowyer pleaded guilty to money laundering and tax fraud charges in August 2024 and was subsequently released from federal prison. In April, he was included in Nevada’s “black book,” a list that can permanently bar him from entering casinos in the state.
The complaint states that Bowyer gambled at the Venetian from 1999 to 2024, focusing specifically on the period from 2019 to 2024, which overlaps with the casino's ownership by Apollo Global Management and its previous owner, Las Vegas Sands. Apollo acquired the Venetian's operations for $2.25 billion in 2021, with the deal closing in early 2022.
The Venetian and NGCB representatives have chosen not to comment until the matter is presented to the Nevada Gaming Commission on August 20. Las Vegas Sands also declined to provide any comments.
In admitting wrongdoing, the stipulated settlement specifies the $7.2 million fine along with seven conditions related to anti-money laundering protocols that the Venetian must adhere to. These conditions include enhanced employee training, regular assessments of AML practices, and ongoing cooperation with the NGCB. The settlement also mandates that the casino revise its AML policy to ensure compliance with relevant laws and regulations.
The fine amount appears to be related to the casino’s profits linked to Bowyer. From 2019 to 2021, Bowyer visited the Venetian roughly 30 times, betting $22.3 million and losing $3.6 million during that timeframe. The $7.2 million fine doubles the casino’s profit from Bowyer, reflecting a systematic approach by regulators to address profits obtained from illegal gambling activities. Last year, Caesars was fined $7.8 million, which tripled its admitted profits of $2.6 million from Bowyer to uphold regulatory standards.
The Venetian has acknowledged
