MGM Resorts Fined $8.5M for AML Failures

MGM Resorts International has agreed to pay an $8.5 million fine to settle allegations by Nevada regulators that it allowed convicted illegal bookmakers Wayne Nix and Mathew Bowyer to gamble and pay debts with illicit cash at MGM Grand and The Cosmopolitan between 2015 and 2018. The complaint cited significant failures in MGM's anti-money laundering (AML) compliance and internal controls. Former MGM Grand president Scott Sibella, implicated for approving perks for Nix and failing to report suspicious activities, has since lost his gaming license, paid fines, and received probation. As part of the settlement, MGM Resorts is required to enhance its AML program and provide additional staff training. This follows a similar $10.5 million fine imposed on Resorts World Las Vegas for related violations. The Nevada Gaming Commission is expected to review and potentially approve the settlement, highlighting ongoing efforts to address illegal gambling and money laundering on the Las Vegas Strip.