MGM admits to wrongdoing in illegal bookie case as Nevada regulators approve $8.5 million settlement
In expressing contrition for previous transgressions, MGM Resorts pledged to institute widespread AML compliance reforms.
As expected, the Nevada Gaming Commission (NGC) approved an $8.5 million (£6.4 million/€7.5 million) fine against MGM Resorts on Thursday, settling widespread charges surrounding the company’s anti-money laundering (AML) protocols. The NGC approved the stipulation for settlement against MGM by a vote of 4-0.
The approval is the NGC’s second over the last month regarding AML casino procedures, a sore subject for compliance teams on both ends of the Las Vegas Strip. Both settlements involve Scott Sibella, who served as president of MGM Grand before he left in 2019 to accept the same position at Resorts World Las Vegas (RWLV).
The MGM fine is less than the $10.5 million RWLV settlement approved by the commission last month. Terminated by RWLV in 2023, Sibella was sentenced to one year of probation last year for several federal crimes, including failure to file a su..
