Nevada regulator approves $10.5 million fine for RWLV
The Nevada Gaming Commission concluded its session on March 27, 2025, by affirming a significant financial penalty of $10.5 million (£8.1 million/€9.7 million) against Resorts World Las Vegas (RWLV) for historical breaches of anti-money laundering (AML) regulations.
The resolution garnered unanimous approval with a 4-0 vote, as Commissioner Abbi Silver recused herself due to her prior association with Scott Sibella, the former president of RWLV. Sibella received a sentence of one year probation last May and subsequently had his gaming license in Nevada revoked following AML violations during his tenure at MGM Grand.
This fine now stands as the second-largest ever imposed on a Nevada gaming operator, surpassing historical fines since the legalization of casino gaming in the state in 1931.
Wynn Resorts remains the record-holder with a staggering $20 million fine established in 2019 due to failure to address multiple allegations of sexual misconduct against its founder, Steve Wynn. Additionally, Wynn paid a $10 million settlement associated with this controversy.
Speculation had suggested that RWLV’s penalties might rival or exceed Wynn’s, citing the direct connection of its infractions to its gaming operations. However, the commission displayed a quick approval process with minimal discourse on the penalty.
Beyond the monetary fine, RWLV faces additional conditions attached to its gaming license, including enhanced reporting obligations and increased scrutiny regarding AML compliance.
Krolicki: Compliant Standards Must Be Adhered To
Commissioner Brian Krolicki emerged as the sole voice of dissent during discussions, characterizing the compliance failures as “a profound teachable moment for the industry.” His comments underlined the severity of the infractions while expressing a collective desire among commissioners to move forward.
“The details within the complaints are indeed breathtaking,” Krolicki noted. He acknowledged the efforts of the Nevada Gaming Control Board (NGCB), reflecting on Nevada’s unique regulatory structure that includes dual oversight by the control board and commission.
“This resolution marks a pivotal juncture for Resorts World,” Krolicki asserted, adding that it serves as a clarion call across the Las Vegas Strip for stringent adherence to regulatory standards.
A Scandal with Far-Reaching Implications
RWLV finds itself enmeshed in a sprawling scandal involving illegal bookmaking and AML violations linked primarily to Mathew Bowyer, a California-based bookmaker currently awaiting sentencing on related charges. Bowyer’s enterprise reportedly catered to approximately 700 clients.
One notable figure connected to Bowyer is Ippei Mizuhara, previously the interpreter for MLB star Shohei Ohtani. Mizuhara was convicted of stealing $17 million from Ohtani to support a gambling addiction, utilizing Bowyer’s services and subsequently gambling with the illicit funds at RWLV. Recently, Mizuhara received a sentence of 57 months in federal prison for bank fraud and tax evasion.
In August of last year, the NGCB filed a 31-page complaint against RWLV, delineating the extensive nature of its compliance failures tied to Bowyer. Management had reportedly maintained awareness of Bowyer’s illegal gambling operations yet allowed him and others to gamble freely at their venue. Furthermore, RWLV employed Bowyer’s wife, Nicole, as a personal host, creating potential conflicts of interest and leading to Bowyer’s substantial gambling losses at the casino, totaling at least $7.9 million over 80 visits.
The commission notably rejected a previous settlement proposal for Nicole Bowyer, advocating instead for a lifetime ban, alongside measures to recoup profits related to the illegal activities.
Bowyer declined to provide commentary on the fine when approached by iGB on Thursday.
Strategic Leadership Shift: The “Dream Team”
Lawyer Erica Okerberg, representing RWLV, highlighted the strategic changes instituted by the casino along with its parent company, Genting Berhad. Among the significant developments was the establishment of a new board of directors for RWLV and the appointment of a new CEO.
These changes were announced in December, with industry veteran Alex Dixon taking the helm as CEO. The newly formed board encompasses several distinguished figures, including:
- AG Burnett, former chair of the NGCB
- Michelle DiTondo, principal at Avion Consulting
- Tan Kong Han, CEO of Genting Berhad
- Brian Sandoval, former governor of Nevada
- Jim Murren, former CEO of MGM Resorts
Referred to as the “dream team” by Krolicki, this leadership group aims to stabilize RWLV’s operations. Both Murren and Dixon were present at the hearing, with Commissioner George Markantonis commenting on the “overcomplicated” reporting systems of the previous administration that contributed to governance failures.
Murren’s subsequent involvement on the board raises questions given his previous position at MGM, which had seen Bowyer and other illicit bookies frequent its venues. This broader context underscores the systemic challenges faced by gaming operators in enforcing AML compliance.
Operational Restructuring Amid Financial Challenges
Despite the finalization of the settlement, RWLV confronts significant challenges ahead, both financially and reputationally. On March 26, 2025, the casino announced layoffs of nearly 50 full-time employees as part of its operational restructuring efforts.
According to a statement from Genting, “This decision aligns with our ongoing efforts to optimize efficiency and enhance the remarkable experience we aim to provide our guests.” The layoffs reflect the current operational climate and the casino’s intent to streamline its workforce.
In the fourth quarter of the previous year, RWLV’s revenue reached $190 million, representing a stark 21% decline compared to Q4 2023. The casino’s EBITDA dwindled to over $1 million—down more than $50 million year-over-year, as outlined in Genting’s disclosures. This financial downturn followed an even harsher third quarter, marking the lowest performance in two years.
Nonetheless, RWLV remains committed to improving profit margins through strategic growth and operational efficiency. Genting’s statements emphasized the implementation of enhanced hotel systems to expand customer outreach, tailored casino offerings to foster repeat business, and ongoing marketing initiatives aimed at attracting high-value patrons and bolstering convention engagements.
Furthermore, RWLV plans to invest in innovative dining, entertainment, and retail concepts to drive customer engagement and operational leverage moving forward. On February 27, Genting announced the resignation of long-serving CEO Lim Khok Thay, who remains in an executive chairman role.
