Resorts World Faces Major Fine in Nevada
LAS VEGAS (KTNV) — Resorts World may be subjected to the second-largest fine in the history of Nevada gaming.
On Thursday, officials from the Nevada Gaming Control Board announced a proposed settlement with Resorts World, which includes a $10.5 million penalty payable to the state’s General Fund, along with specific conditions on the establishment’s gaming licenses.
Background of the Case
This situation arises from a complaint the board filed against Resorts World on August 15, 2024, accusing them of having inappropriate operational practices. The complaint mentioned activities involving illegal bookmakers Mathew Bowyer and Damien LeForbes at the licensed property.
Details on Illegal Bookmaking
Federal investigators revealed that Bowyer was running an unlicensed bookmaking operation focused on sports betting, which violated California law against bookmaking. He allegedly conducted this illegal enterprise from various locations across Los Angeles, Orange County, and Las Vegas.
Plea Agreements and Consequences
As part of a plea agreement with federal authorities, Bowyer confessed to misleading the IRS on his 2022 tax return by declaring only $607,897 in income, while his actual earnings from the illegal gambling business were over $4 million. Following his agreement, Bowyer will forfeit nearly $258,000 in seized assets and must cooperate fully with investigators.
Broader Implications for Resorts World
In its proposed settlement, the Nevada Gaming Control Board highlighted that most of the conditions imposed focus on enhancing Resorts World’s anti-money laundering policies and signal a need for significant changes in the company’s executive leadership. Scott Sibella, the former president, was dismissed in September 2023 for violating company policies and has already pleaded guilty to separate federal anti-money laundering charges.
Upcoming Meetings and Final Sentencing
The Nevada Gaming Commission is expected to review the proposed settlement during its upcoming meeting on March 27. Meanwhile, sentencing for Bowyer is set for April 4, and LeForbes is scheduled to be sentenced on June 26.
