MGM Resorts Reaches $8.5 Million Settlement Over Recent Allegations of Money Laundering
April 18, 2025, 11:09h:
Last Update: April 18, 2025, 11:54h.
Corey Levitan Read More
Commercial Gaming | Entertainment | Expert Insight | Las Vegas | Restaurants | Las Vegas Myths
MGM Resorts International has coughed up a massive $8.5 million fine to put a lid on yet another money-laundering scandal. This time round, the suspect at the heart of the matter is former MGM Grand president and COO Scott Sibella, who allegedly let a couple of unscrupulous bookies place bets and clear debts through unreported cash at the MGM Grand and Cosmopolitan – all while breaking the Bank Secrecy Act, as per the Nevada Gaming Control Board's (NGCB) latest complaint.
Breaking it down for you, the complaint has 10 counts, and nine of them are linked to the gambling activities of notorious figure Wayne Nix, a convicted illegal bookmaker and former minor-league baseball player. The remaining count centers on gambling by Matthew Boyer, another infamous bookmaker.
In a press release posted on Nevada's Control Board X, Kirk Hendrick, NGCB chair, stated, "The complaint's allegations focus on the shortcomings of MGM Resorts' employees vis-à-vis Nix and Boyer, as well as deficiencies noted within MGM Resorts' anti-money laundering program."
The settlement, which is subject to the approval of the Nevada Gaming Commission next week, includes numerous remedial measures aimed at fortifying MGM Resort's anti-money laundering program and further professional development of its employees.
Something Old, Something New
Interestingly, this settlement follows a separate agreement between MGM Resorts and federal prosecutors, who extracted a $7.45 million fine for the same offenses last year.
Just last month, Resorts World also signed on the dotted line, agreeing to pay an eye-watering $10.5 million – the second highest fine in Nevada history – to cover money-laundering charges brought forth by the NGCB. Both charges stem from dubious gambling activities by Boyer and another illegal bookmaker, Damien LeForbes, during Sibella's stint as president at Resorts World in 2022 and 2023.
Back then, Sibella found himself out of a job at Resorts World, and his gaming license was rescinded for five years last December. He copped a plea for violating the Bank Secrecy Act in court and escaped prison time but was handed a year of probation and a $9,500 fine.
Though the Nevada Gaming Commission might give the green light to the deal in its meeting next week, it seems this scandal might leave a mark on Las Vegas' reputation for quite some time. That's because the NGCB reserves the right to pursue additional disciplinary actions if federal authorities decide to target Resorts World in the same manner they did with MGM Resorts.
- MGM Resorts International has paid an $8.5 million fine for alleged money laundering activities by Scott Sibella, who was the former president and COO of MGM Grand.
- Scott Sibella, the suspect, is accused of allowing unscrupulous bookies to place bets and clear debts through unreported cash at the MGM Grand and Cosmopolitan, violating the Bank Secrecy Act.
- The Nevada Gaming Control Board (NGCB) has filed a complaint against MGM Resorts with 10 counts, nine of which are linked to gambling activities of notorious figure Wayne Nix.
- The settlement terms include remedial measures to strengthen MGM Resort's anti-money laundering program and professional development for their employees.
- Resorts World also paid a $10.5 million fine for money laundering charges brought by the NGCB last month, stemming from gambling activities by Damien LeForbes during Sibella's stint as president at Resorts World.
- Scott Sibella was previously terminated from Resorts World, and his gaming license was revoked for five years, followed by a plea for violating the Bank Secrecy Act and a year of probation and a $9,500 fine.
- The Nevada Gaming Commission may approve the settlement next week, but the scandal might continue to impact Las Vegas' reputation, as the NGCB reserves the right to pursue additional disciplinary actions if federal authorities investigate Resorts World in the same manner as MGM Resorts.
