The Nevada Gaming Commission (NGC) has unanimously approved a $7.2 million settlement with the Venetian Resort Las Vegas to resolve allegations of anti-money laundering (AML) compliance failures connected to convicted illegal bookmaker and high-stakes gambler Mathew Bowyer.
This penalty represents the fourth major enforcement action taken by Nevada gaming regulators against iconic Las Vegas Strip properties over lapses in patron vetting and source-of-funds verification tied to Bowyer, following prior multimillion-dollar settlements with Resorts World, MGM Resorts, and Caesars Entertainment. Across all four regulatory investigations, total financial penalties have reached $34 million. According to findings presented by the Nevada Gaming Control Board (NGCB), Bowyer frequented the Venetian dozens of times between 2019 and 2024, accumulating approximately $3.6 million in gaming losses while compliance staff failed to adequately examine the origins of his funds or bar him from the casino floor.
Legal counsel for the resort emphasized that the misconduct primarily occurred under previous owner Las Vegas Sands, prior to the property’s acquisition by Apollo Global Management in 2022. Officials noted that less than $100,000 of the illicit gaming revenue was generated during Apollo’s tenure, with current leadership implementing restructured AML controls and enhanced patron screening protocols. State authorities acknowledged these mitigating factors, pointing out that the Venetian did not display a systemic culture of non-compliance and was not targeted by a parallel federal criminal investigation.
For land-based casino venues and online gaming operators alike, this landmark settlement reinforces the critical importance of rigorous customer due diligence, proactive source-of-wealth authentication, and immediate reporting of suspicious transactions to avoid severe regulatory sanctions.
Source: iGaming Business