The Nevada Gaming Commission has approved a $7.2 million fine against Venetian Las Vegas Gaming LLC, known as The Venetian Resort Las Vegas, for failing to prevent convicted felon and illegal bookmaker Mathew Bowyer from playing at the casino between 2019 and 2021. The settlement was approved with a 3-0 vote, with certain commissioners recusing themselves due to potential conflicts. This fine is the sixth-highest issued against a Nevada gaming company.
Bowyer, a patron of The Venetian since 1999, deposited over $22.3 million during the three-year period, placing millions in bets and losing at least $3.6 million. The Nevada Gaming Control Board’s complaint stated that concerns about Bowyer’s funds source were present as early as 2019, and the casino host was aware of his illegal bookmaking activities but failed to report them under the company’s anti-money laundering program.
Apollo acquired The Venetian, Palazzo, and Venetian Expo from Las Vegas Sands Corp. in a $6.25 billion transaction in February 2022. The complaint stated that the current owners assumed all liabilities related to the matter relating to the business. A mitigating factor was that most of Bowyer’s play occurred before 2022 under the previous owners.
Bowyer was banned from The Venetian on March 11, 2024, due to money laundering concerns. The Venetian expressed regret for the circumstances leading to the settlement agreement, acknowledging that more effective due diligence and decision-making should have been done regarding Bowyer’s fund source prior to 2022. The settlement requires The Venetian to maintain or increase anti-money laundering compliance staffing for at least two years, review its policies annually, and provide changes to the Control Board chair. The casino must also participate in FinCEN’s Section 314(b) information-sharing program.
Fines related to Bowyer at Las Vegas casinos now total $34 million, including fines against Resorts World Las Vegas, MGM Resorts International, and Caesars Entertainment. This incident has been deemed bad for Nevada and the gaming industry, with Commissioner Brian Krolicki expressing frustration and a determination to prevent such occurrences in the future.
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