Anti-Financial Crime & Financial Crime Compliance
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Financial Crime, Gaming, US

NEWS: MGM Resorts hit with $8.5M penalty for AML failings

A view of MGM Grand hotel in Las Vegas, Nevada, U.S., September 13, 2023. REUTERS/Bridget Bennett

By PAUL O’DONOGHUE, Senior Correspondent

MGM Resorts has agreed to pay $8.5 million to settle allegations that it failed to prevent illegal bookmakers from using its casinos to launder money, according to a complaint filed by the Nevada Gaming Control Board (NGCB).

The case stems from actions by former MGM Grand President Scott Sibella, who allowed illegal bookmaker Wayne Nix to gamble with illicit cash at MGM Grand and The Cosmopolitan.

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