Resorts World Las Vegas Strengthens AML Compliance Under New Leadership

Brian Sandoval, chair of the Resorts World Las Vegas Board of Directors, addressed Nevada gaming regulators on Wednesday. He emphasized that the property has resolved its anti-money laundering (AML) issues.

Sandoval stated that Resorts World is now in a “much better place” with “very bright” prospects. He is a former Nevada governor and current president of the University of Nevada, Reno. Sandoval joined the Resorts World board a year ago and became chair in November, replacing former MGM Resorts International CEO Jim Murren.

NGCB Licensing and Leadership Changes

The Nevada Gaming Control Board recommends that Sandoval be licensed as a board member.

AG Burnett, a gaming attorney, was also recommended. Additionally, the board recommended licensing for Keong Hui Lim and CEO Kong Han Tan from Genting Berhad.

This endorsement reflects confidence in the new leadership team’s compliance and long-term success.

Resorts World Las Vegas has faced significant challenges since opening in June 2021. Last year, it was fined $10.5 million by the Nevada Gaming Commission. This fine was for accepting bets from an illegal bookmaker.

These financial struggles prompted a reevaluation of operations and compliance measures. Sandoval noted that when he joined, it was a “troubled time for the property.” He emphasized the importance of bringing in skilled individuals to help turn things around.

AML Compliance Reforms and Regulatory Oversight

During the meeting, Gaming Control Board Chair Mike Dreitzer asked about changes made to prevent future AML issues. Sandoval responded that there had been a thorough investigation into the previous AML issues. He emphasized the need to adhere to state and federal regulations.

“There’s an absolute culture of compliance on the property,” Sandoval stated, praising the investment in compliance training. He asserted that the property is now in a much better position due to the executive team’s efforts.

NGCB member George Assad commended Sandoval’s leadership. He highlighted the need for a clear authority structure in compliance matters. Assad expressed confidence that the current board would have effectively addressed past AML issues, noting structural gaps between the marketing and compliance departments. He stressed that accountability is crucial in maintaining compliance and preventing future violations.

Positive Outlook for the Future

Despite the challenges facing Las Vegas, Sandoval remains optimistic about Resorts World’s future. He acknowledged external pressures but praised the team on the ground for its quality. “The prospects of the property are very bright and positive,” he stated. Sandoval described the resort as pristine with dedicated employees, likening it to “polishing a diamond.”