What led to the $10.5 million fine for Resorts World Las Vegas?

Las Vegas Resorts World has found itself at the centre of a significant regulatory penalty. The luxury destination on the Las Vegas Strip features a 117,000-square-foot casino with slot machines, table games, and a dedicated poker room, but it is currently in hot water.

Its parent company, Genting Berhad, had to pay a $10.5 million fine following a Nevada Gaming Commission ruling over serious compliance failures related to anti-money laundering (AML) regulations.

This marks the second-largest fine ever issued by Nevada state gaming regulators, surpassed only by the $20 million penalty imposed on Wynn Resorts in 2019. For those of you who aren't familiar with Wynn Resorts, that is another industry giant with seven properties worldwide. Its latest project is the $3.9 billion Wynn Al Marjan Island, or the first casino in the United Arab Emirates.

Investigation and settlement details

The substantial amount was issued after extensive investigations following a complaint filed by the Nevada Gaming Control Board (NGCB) in 2024. The complaint initially listed 12 counts of regulatory violations, though they were later reduced to 10.

The complaint filed by the Nevada Gaming Control Board (NGCB) named key individuals, Mathew Bowyer and Damien Leforbes, as Southern California's illegal bookmakers.

Bowyer, who pleaded guilty to federal charges last year, was found to have gambled nearly $8 million at Resorts World over a 20-month period without the necessary source-of-funds checks. His wife, Nicole, who was a registered independent agent, directly profited from his gambling activities. This violation is currently under separate regulatory scrutiny.

Compliance conditions and future oversight

Resorts World did not admit or deny the allegations in public. But what happens behind the scenes of the casino?

The company must implement sweeping reforms, which include retaining AML documents for five years, providing mandatory training for all independent agents within 60 days, and maintaining or increasing its current staffing levels per AML compliance.

Resorts World must report any notices of criminal investigations to Nevada regulators and undergo future audits. Chief Deputy Attorney General for the state, Darlene Caruso, described the allegations as "particularly egregious." The commission approved the settlement conditions, and if the internal audits are insufficient for the next two years, an external audit will be mandated.

The Nevada Gaming Control Board (NGCB) investigation focused on Scott Sibella's tenure as President of Resorts World. Sibella led the resort from 2019 until September 2023. He pleaded guilty earlier this year to failing to report suspicious transactions during his employment at MGM Grand.

Nevada regulators revoked Sibella's gaming license in December, fined him $10,000, and barred him from re-entering the state's gaming industry for five years. The complaint mainly focused on his MGM tenure, but the settlement also resolved any accountability for his time at Resorts World.

Resorts World layoffs and compliance focus

Resorts World confirmed the layoff of fewer than 50 full-time employees as part of its efforts to "optimise efficiency." The company emphasised that the AML team was not affected by the layoff and outlined its plans to become "a leader in the industry" regarding compliance practices.

In December 2024, Genting formed a new board of directors to strengthen oversight of its Las Vegas operations following the regulatory action. 

In January 2025, Alex Dixon was appointed as the new CEO. He shared that his primary mission will be to guide the resort into a new era of transparency and accountability.

A public meeting was held where the high-stakes gambler and social media figure Robert "R.J." Cipriani, also known as Robin Hood 702, testified about his role in drawing federal attention to the resort's activities. Cipriani's lawsuit against Resorts World and Sibella about alleged harassment and retaliation for whistleblowing was dismissed in 2024. Cipriani is currently appealing the dismissal.

Final penalty and Commissioner's reactions

Cipriani pleaded for a stiffer penalty, but the $10.5 million fine was finalised and must be paid within two days. Commissioner Abbi Silver recused herself due to a longstanding friendship with Sibella, while other commissioners voiced concern that the penalty may have been too lenient given the scope of violations.

Key facts about gaming companies in Nevada

As a final step, we'll provide some context with additional information about the companies mentioned in the article.

The Nevada Gaming Commission is responsible for enforcing strict anti-money laundering (AML) regulations to maintain the gaming industry's integrity and prevent illegal financial activities. These align closely with federal laws like the Bank Secrecy Act (BSA), which requires casinos to implement effective AML programs.

Some of the important components include:

• Currency Transaction Reports (CTRs) are where casinos must report cash transactions that exceed $10,000 to alert the authorities about potential AML activities.
• Employees are required to file Suspicious Activity Reports (SARs) when they see any unusual transactions or patterns that could indicate financial crimes.
• Casinos must ensure robust AML programs, known as compliance programs, which include employee training, internal controls and independent audits.

In turn, these gambling laws aim to boost tourism and drive economic growth. They are also designed to protect the financial system and maintain the public's trust in Nevada's casinos.

It also sees to the proper collection of gaming taxes and fees, operating through the following divisions: Administration, Audit, Enforcement, Investigations, Tax and License, and Technology. The NGCB also works hand-in-hand with the Nevada Gaming Commission to maintain public confidence in the gaming industry.

MGM Resorts International, known globally for its gaming and entertainment hotels and casinos, operates internationally. It expanded into sports betting through BetMGM, which provides a platform for sports fans to engage in gaming.