Las Vegas Strip Wynn Resorts Hit by Huge Fine

LAS VEGAS — The drumbeat of anti-money laundering (AML) enforcement continues on the Las Vegas Strip, with Wynn Las Vegas becoming the third major operator this year to face state penalties. On Thursday, the Nevada Gaming Control Board (NGCB) announced a $5.5 million settlement with Wynn over violations tied to unlicensed money transfers and proxy betting, deepening a growing trend of regulatory scrutiny on Nevada's flagship casinos.

The fine follows a six-count complaint filed by the NGCB that cites illicit financial practices dating back to 2014. These included allowing unauthorized individuals to move money for international patrons, enabling illegal betting on behalf of others, and bypassing AML protocols through third-party intermediaries. Wynn allegedly routed funds through shell entities into a California account it controlled, before transferring them to the casino cage for disbursement—avoiding proper financial reporting at multiple levels.

“The improper actions…were undertaken by individuals with whom we severed ties years ago,” Wynn Resorts said in a statement. “We accept responsibility…and are now glad the matter is fully resolved.”

This resolution comes months after a federal non-prosecution agreement reached in September 2023, under which Wynn forfeited $130 million—believed to be the largest-ever casino forfeiture based on admitted wrongdoing, according to the U.S. Attorney’s Office for the Southern District of California.

A Pattern Emerges

The Wynn fine caps a run of three significant AML enforcement actions on the Strip in as many months. In March, Resorts World Las Vegas was fined $10.5 million for AML violations tied to two illegal bookmakers awaiting sentencing. In April, MGM Resorts paid $8.5 million for similar offenses. Though the Wynn case is unrelated, the frequency and scale of these fines point to systemic compliance failures across the Strip.

The Nevada Gaming Commission is expected to vote on the Wynn fine at its May 22 meeting. In past cases, fines have been approved without added conditions.

The NGCB complaint highlights two specific schemes: “human heads” and “flying money.” In the first, casino employees enabled proxy betting by allowing third parties to place wagers for others, often foreign nationals evading scrutiny. The second involved unlicensed transmitters delivering bulk cash to Wynn patrons, who then sent back the equivalent amount in foreign currency plus a fee—bypassing both U.S. and Chinese financial laws.

Wynn’s practices bear resemblance to those that brought down Australian operators Crown Resorts and Star Entertainment. Both companies facilitated illegal money transfers through disguised UnionPay card transactions, leading to billions in combined penalties and a crisis of regulatory confidence in Australia.

Federal Oversight Overshadows State Response

While Nevada casinos have posted record post-pandemic revenues, federal agencies—not state regulators—initiated all three AML investigations in 2024. That reality has intensified criticism of Nevada’s gaming oversight bodies for being reactive rather than proactive.

Despite the mounting fines, critics argue the penalties have been lenient, especially compared to the severity of the offenses. Wynn’s latest fine pales in comparison to its $20 million penalty in 2019 for failing to address sexual misconduct allegations against founder Steve Wynn—a case also unearthed by investigative journalism, not regulators.

In some cases, commissioners have even praised the leadership of offending operators. During the Resorts World settlement, one commissioner described its new board as a “dream team,” despite the company receiving the second-largest fine in state history.

Adding to the turbulence, NGCB Chairman Kirk Hendrick will step down on June 22, a year ahead of schedule. His replacement, former Gaming Arts CEO Mike Dreitzer, will become the fifth chair since 2019—a period marked by regulatory inconsistency and leadership turnover.

The current board comprises Hendrick, Chandeni Sendall (appointed January 2025), and George Assad, the longest-serving member by default. Assad, a former judge, has a controversial history. His son, Anthony Carleo, was convicted of robbing the Bellagio in 2010 and sentenced to up to 11 years in prison. Around the same time, Assad received the lowest score in a local judicial review survey.

 

We accept responsibility for those actions and are now glad the matter is fully resolved.

Looking Ahead

With the Wynn fine poised for approval and new leadership incoming, Nevada’s gaming regulators face growing pressure to strengthen enforcement. The recent string of AML penalties has shifted the narrative around Las Vegas gaming—from a post-COVID success story to a warning about compliance vulnerabilities.

As federal agencies continue to drive the most impactful investigations, the question remains: Will Nevada's regulators begin to lead—or continue to follow?