Nevada gaming regulators have begun an investigation into potential money laundering violations at Fontainebleau. This follows an audit that highlighted issues with the casino’s internal credit practices. The previously undisclosed probe was revealed during a routine licensing hearing for Maurice Wooden, the resort’s president since January, before the Nevada Gaming Commission.
The audit pointed out irregularities that may breach the Federal Bank Secrecy Act. Investigators are specifically looking into whether the property’s ownership interfered with management’s decision to deny credit to a patron, potentially compromising required financial compliance protocols. The Gaming Commission unanimously decided to grant Wooden a two-year limited gaming license instead of the standard full license, due to concerns over the ongoing investigation.
Wooden’s attorney, Dan Reaser, criticized the timing of the announcement regarding the Fontainebleau money laundering investigation, noting that it was not mentioned during Wooden’s background check or previous interviews. Nevada Gaming Control Board Chairman Kirk Hendrick confirmed the investigation’s existence but emphasized its confidentiality under state law.
Hendrick admitted that sensitive material should not have been included in the licensing review and chose not to comment further. Commissioners hesitated to proceed with a full license while the alleged money-laundering investigation remains unresolved. Recently, MGM Resorts, Resorts World Las Vegas, and Wynn Resorts have faced fines for similar compliance issues.
- SCCG Management. The Gambling Industry’s Global Connector. Access Here.
- Source: SCCGManagement.com