LAS VEGAS (KLAS) Resorts World will pay a $10.5 million fine for “unsuitable methods of operation,” agreeing to the second-largest fine ever assessed by the Nevada Gaming Commission.

It’s a heavy price for what Nevada Gaming regulators regard as a grave situation at a Las Vegas Strip casino. The complaint originally filed in August detailed two illegal bookmakers operating with impunity, gambling millions as anti-money laundering (AML) regulations went by the wayside. Casino hosts and upper management allowed or ignored the situation, resulting in a culture of money laundering.

Only Wynn Resorts has paid a higher fine $20 million assessed in February 2019 for failing to properly investigate sexual harassment allegations against former CEO Steve Wynn.

On Wednesday, Resorts World announced that it was laying off around 50 employees. If one thing was clear from Thursday’s hearing, the company’s AML program wasn’t included in the layoffs. Resorts World has redoubled its efforts and has set a goal to be an industry leader.

Commissioners discussed the scale of the penalty before voting to approve the settlement, with Commissioner Abbi Silver recusing herself from participating because of a longtime friendship with Scott Sibella, who was in charge at Resorts World when the events spun out of control. Sibella lost his gaming license.

“Personally, I feel that the fine is on the low side,” Commissioner Rosa Solis-Rainey said during Thursday’s hearing.

“We’ve seen a larger fine for things that weren’t on the gaming floor, and not over the same period of time,” Commissioner Brian Krolicki said.

“At the end of the day, the folks who made those decisions, allowed those decisions, who were in the C-suite, who were on the floor, who were in the pit, who were the hostesses … they’re gone,” Krolicki said.

The amount of the fine was disclosed a week ago, and became final with Thursday’s vote. Resorts World has two days to pay the state.

The investigation into Resorts World started as regulators examined the activities of Mathew Bowyer, a Southern California man who pleaded guilty to running an illegal gambling business in August 2024. Bowyer took bets from the interpreter who worked for Los Angles Dodgers superstar Shohei Ohtani in a case that received massive media coverage.

Bowyer’s wife, Nicole, was an independent contractor at Resorts World, working as a casino host for customers including her husband, according to statements during Thursday’s commission meeting.

The investigation also involved Damien Forbes, a patron when the resort opened in 2021 who was known to be an illegal bookmaker by a casino host. That host even sent business to LeForbes, according to the August complaint.

Names of the hosts were not released by gaming regulators.

The allegations against Resorts World were “particularly egregious,” according to Darlene Caruso, Nevada’s chief deputy attorney general. She outlined the terms of the settlement:

• Resorts World will pay a $10.5 million fine, due to the state within two days
• Conditions have been attached to the company’s gaming license, specifying it will retain core elements of its recently revised AML program, including ongoing updates and an annual review.
• Certain AML documents must be retained for at least five years.
• Within 60 days, Resorts World will assign all independent agents an AML training module.
• In two years, a internal audit and report are required. If regulators are not satisfied, an external audit will take place.
• Resorts World will report any notice of a criminal investigation to Nevada gaming authorities.
• The company will retain at least its current AML staffing levels.
• Nevada gaming regulators reserve the right to bring additional actions against Resorts World.

Major changes in leadership have already taken place since regulators got involved. A board of directors over the resort has been established a big change for corporate owners Genting Berhad. That board includes Chair Jim Murren, former CEO at MGM Resorts International, former Nevada Gov. Brian Sandoval, former Nevada Gaming Control Board Chair A.G. Burnett, Genting Berhad executive Kong Han Tan, and executive Michelle DiTondo.

The company has a new CEO, a new COO/CFO and a new position for a compliance officer, which Resorts World is actively working to hire.

The company has trained 1,100 employees and is working with UNLV to create a customized gaming compliance program for executives and key employees.

Krolicki said this should send another signal to gaming operators.

“I also believe this is a clarion call up and down that street that aml, compliance, audit, all of these things we talk about all the time, we really mean it. It’s easy to say, but it’s harder to do,” he said.