Nevada regulators approve $7.2M fine against Venetian for AML violations tied to illegal bookmaker

The Nevada Gaming Commission approved a $7.2 million settlement against The Venetian on Thursday, August 20, 2026, for anti-money-laundering violations spanning a three-year period when convicted bookmaker Mathew Bowyer deposited more than $22.3 million at the property while losing at least $3.6 million.

According to a four-count complaint from the Nevada Gaming Control Board, the casino's host knew Bowyer was an illegal bookmaker after Bowyer himself disclosed this information, yet failed to report it as required under the company's AML program. The violations occurred primarily between 2019 and 2021, during the tenure of The Venetian's previous ownership. The fine represents two times Bowyer's documented losses at the casino.

Commissioner Brian Krolicki expressed frustration during the hearing, calling the violations embarrassing for Nevada and the gaming industry while noting the settlement represented an attempt to salvage something positive from the situation. The Commission voted 3-0 to approve the agreement, with two commissioners recusing themselves due to potential conflicts of interest.

The settlement imposes several forward-looking requirements. The Venetian must maintain or increase its AML compliance department staffing for at least two years, conduct comprehensive training for casino hosts, player support staff, marketing executives, and those with credit authority exceeding $50,000 within 60 days, and designate a dedicated AML program officer. The casino also must file for suitability licensure with the Control Board within 30 days and participate in the U.S. Treasury's Financial Crimes Enforcement Network Section 314(b) information-sharing program.

This settlement is the fourth enforcement action against Las Vegas casinos connected to Bowyer's activities. His patron conduct at other properties resulted in a $10.5 million fine against Resorts World Las Vegas, an $8.5 million fine against MGM Resorts International, and a $7.8 million fine against Caesars Entertainment, bringing the collective cost to $34 million across the market.

The Venetian, which Apollo Global Management acquired from Las Vegas Sands in February 2022 for $6.25 billion, benefited from a mitigating factor: Apollo's ownership and new gaming license began after the majority of Bowyer's play occurred. Of his $3.6 million in losses, only $88,000 occurred post-acquisition. Bowyer was banned from The Venetian on March 11, 2024, after money-laundering concerns surfaced.

Krolicki warned that future violations would trigger harsher penalties, stating he wanted to see a different response should a second phase of misconduct emerge. The enforcement action underscores persistent vulnerabilities in casino AML procedures and the regulatory focus on customer due diligence protocols. Nevada gaming regulators expect to issue mandatory compliance rules for all licensees regarding FinCEN's Section 314(b) program by year-end, signaling tighter supervision ahead.