Why was Caesars Palace fined $7.8 million by Nevada regulators?

Caesars Palace was fined for failing to comply with anti-money laundering rules, specifically by not verifying the source of funds for a suspected bookmaker.

What is the connection between Caesars Palace's fine and Shohei Ohtani's former interpreter?

The bookmaker linked to Caesars Palace's fine, Mathew Bowyer, pleaded guilty to federal charges, which included illegal gambling and money laundering, and prosecutors stated he took bets from Ohtani's former interpreter, Ippei Mizuhara.

Has any other casino been fined in relation to Mathew Bowyer's activities?

Yes, Resorts World and MGM Resorts International have also been fined significant amounts due to their dealings with Mathew Bowyer.

Home / Business and Economy / Caesars Palace Fined $7.8M for Money Laundering Failures

Caesars Palace Fined $7.8M for Money Laundering Failures

23 Nov

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Summary

Caesars Palace fined $7.8 million for anti-money laundering violations.
The violations involved failing to verify a suspected bookmaker's funds.
This fine follows similar penalties for other casinos linked to the bookmaker.

Caesars Palace Fined $7.8M for Money Laundering Failures

Nevada gaming regulators have levied a $7.8 million fine against Caesars Palace for significant breaches of anti-money laundering (AML) protocols. The casino failed to adequately scrutinize the source of funds for Mathew Bowyer, a suspected illegal bookmaker, despite internal suspicions and external tips. Bowyer was subsequently convicted of federal charges related to his illegal gambling business and money laundering activities.

This substantial penalty underscores regulatory scrutiny of financial compliance within the gaming industry. Caesars Entertainment's CEO, Tom Reeg, admitted that the casino's systems failed to identify Bowyer's suspicious activity, stating, "We didn't catch Bowyer and we should have." The settlement requires Caesars to enhance its AML compliance measures and staff training.

The fine is one of several recent penalties targeting casinos implicated in Bowyer's activities. Earlier this year, Resorts World received a $10.5 million fine, and MGM Resorts International was penalized $8.5 million, highlighting a pattern of regulatory action. These cases are partly linked to the Mathew Bowyer investigation, which also involved Ippei Mizuhara, former interpreter for baseball star Shohei Ohtani.