Caesars Entertainment to Pay $20 Million to Settle Anti-Money Laundering Lapses
Caesars Entertainment has agreed to pay $20 million to settle U.S. charges related to anti-money laundering lapses, it was revealed this week.
From the St. Louis Post-Dispatch:
The $20 million penalty, which could be announced in the next several days, will satisfy both the Justice Department's criminal charges and parallel civil allegations by the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN), the source said. The Nevada Gaming Control Board is also a party to the deal.
Among other lapses, the company's flagship property, Caesars Palace casino in Las Vegas, failed to properly police its sports book activity for wagers placed by illegal betting rings, the source said, asking not to be named because the deal has yet to be made public.
Neither anyone from Caesars or the U.S. Justice Department would provide any further comment to the Post-Dispatch.
In August 2013, Las Vegas Sands Corp agreed to pay $47 million to settle with the Justice Department over anti-money laundering failures, the paper noted.
- Aaron Goldstein, Gambling911.com
