Industry News | 19 Aug 2024

Genting reaffirms its commitment to conducting business with the highest integrity.

Resorts World Las Vegas's parent firm, Genting Berhad, issued a brief comment on Friday (16 August) in reaction to the NGCB's allegations of anti-money laundering (AML) infractions from last week.
 The Las Vegas Resort and Casino
 Companies like GENT "are dedicated to doing business with the utmost integrity and in line with applicable laws and industry guidelines," the statement read.

 On Thursday, August 15th, the NGCB submitted a list of infractions that cast doubt on the company's commitment to compliance.  It further connected Resorts World to the controversy involving sports betting in California.  Mathew Bowyer, an unlicensed bookmaker, allegedly had millions of dollars laundered from the firm over the course of 18 months.

 According to the lawsuit, Bowyer used credit cards to play at that time, and even the casino staff knew he was a bookmaker operating illegally.  Three federal charges pertaining to Bowyer's business were accepted into his plea earlier in August.

 The problems were detailed in Genting's announcement.  Additionally, it detailed possible steps that the Nevada Gaming Commission and the NGCB could take as regulators.  Two putative illegal bookmakers and a convicted operator of an illegal gambling enterprise were not barred, banned, or restricted from the casino at Resorts World, which is one of the major infractions outlined by the NGCB.

 The "culture of compliance" is a major worry for NGCB.
 Also, two workers at the casino did not inform management about the suspected bookmakers.  Both were accused of directing clients to the illicit bookmakers.  The casino also broke the law by hiring the wife of a suspected bookmaker as an independent representative.  She went on to host the illicit bookmaker's casino events.

 Resorts World's culture of compliance is a major source of worry for the NGCB.

 Genting acknowledged the possibility of fines, disciplinary action, and licence revocation in its statement.  "The Commission revokes or suspends RWLV LLC's nonrestricted gaming licence" could also mean that the authorities are able to appoint a supervisor.

 Resorts World Las Vegas described the claims as having to do with operational concerns in a statement.  "We at GENT and RWLV LLC take seriously any allegation of infractions."

 In their statement, the company added that they have "sought legal advice" and are excited to address the concerns voiced by the NGCB. They also promised to continue making sure that Resorts World Las Vegas complies with all laws and regulations.