LAS VEGAS (AP) — Caesars Palace in Las Vegas is being fined $9.5 million by federal and state regulators for not taking steps to prevent money laundering in the casino.
The U.S Treasury's Financial Crimes Enforcement Network announced Tuesday that the agency had settled its investigation into the casino for $8 million. Nevada Gaming Control Board chairman A.G. Burnett said the state agency plans to levy its own $1.5 million fine against the company in a separate settlement.
The federal agency said Caesars Palace willfully and repeatedly violated the Bank Secrecy Act, including allowing high rollers to gamble millions anonymously in private areas of the casino.
A Caesars Entertainment Corp. spokeswoman said in a statement that the Las Vegas Strip casino has since improved its methods to prevent and detect money laundering.
