MGM Resorts International has been hit with a $7.5 million fine by the Nevada Gaming Control Board (NGCB) following a probe that revealed major anti-money laundering (AML) compliance failures at two of its Las Vegas properties—The Mirage and Park MGM.
Major Compliance Shortfalls Identified
Regulators found that MGM failed to meet key AML requirements, including:
- Not properly identifying and monitoring high-risk patrons
- Delayed submission of mandatory Suspicious Activity Reports (SARs)
- Ineffective systems for tracking large cash transactions
These lapses raised red flags with both state and federal authorities, leading to increased scrutiny of the operator’s financial crime controls.
Settlement Terms and Compliance Overhaul
Though MGM has not admitted to any wrongdoing, it has agreed to:
- Pay the $7.5 million fine
- Revamp its AML compliance programs
- Undergo enhanced oversight from regulators
The company will now be required to implement advanced transaction monitoring systems, introduce new employee training procedures, and submit regular compliance reports to the NGCB.
Broader Industry Implications
This enforcement follows closely on the heels of Caesars Entertainment’s $15 million AML-related settlement, reinforcing Nevada’s tough stance on financial crime in the gaming industry. The NGCB made clear that casinos must enhance customer due diligence and improve the timeliness and accuracy of suspicious activity reporting.
What’s Next for MGM?
Although the settlement helps MGM avoid a license suspension, it places the company under a spotlight. Any future compliance failures could result in harsher penalties. This case signals a strong warning to all operators: robust AML measures are no longer optional—they’re essential.
