Resorts World Las Vegas Faces Regulatory Action Over Ties To Illegal Bookie

Article by : Erik Gibbs Aug 20, 2024

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Resorts World Las Vegas is facing serious allegations from the Nevada Gaming Control Board (NGCB) for reportedly allowing known illegal bookies and convicted felons to gamble at its casino, turning a blind eye to the source of their funds. According to this recent GCB complaint, the casino allegedly disregarded suspicious activities, prioritizing financial gain over legal compliance, leading to significant gaming law violations.

The complaint claims that Resorts World executives ignored red flags about certain gamblers, despite warnings from their anti-money laundering (AML) compliance committee. The committee had identified that some patrons, including known illegal bookie Matt Bowyer, were engaging in dubious activities. Bowyer, who had a history of facilitating illicit sports betting, was allowed to gamble and even lost over $7.9 million during his time at the casino. The casino also allowed Bowyer’s wife, Nicole, to act as his independent agent, enabling her to earn commissions from his gambling activities, despite suspicions that the funds were linked to illegal activities.

The GCB’s complaint highlights a broader issue of lax oversight within the casino’s operations. Executives allegedly neglected to follow up on compliance warnings and failed to verify the source of funds for high-rolling patrons.

For example, Bowyer’s $1 million front money deposit was accepted without properly verifying its legitimacy. The casino’s compliance team was reportedly aware of Bowyer’s illegal activities but chose to remove references to him being a bookie from their meeting minutes, effectively covering up the issue.

The allegations against Resorts World extend beyond Bowyer. Other patrons with criminal backgrounds, such as convicted illegal gambler Edwin Ting and felon Chad Iwamoto, were also allowed to gamble despite their histories. The casino allegedly continued to grant credit and gambling privileges to these individuals, ignoring the potential legal ramifications.

The complaint provides a scenario of a casino more focused on revenue generation than following regulatory requirements. The GCB has accused Resorts World of failing to exercise due diligence and properly enforce “Know Your Customer” protocols, which are critical for preventing money laundering and other illegal activities.

Resorts World’s former president, Scott Sibella, who was on the AML compliance committee, claimed he never attended the meetings and relied on his team to handle compliance issues. However, the GCB holds the entire executive leadership responsible for the casino’s failure to enforce gaming regulations.

The investigation by the GCB is ongoing, with potential repercussions for Resorts World as the board continues to examine the casino’s practices in light of these allegations. The outcome could lead to significant fines and stricter oversight. The GCB seeks to uphold the integrity of the Silver State gaming industry.