The Venetian Resort Las Vegas has agreed to pay a $7.2 million settlement to Nevada gaming regulators after an investigation found anti-money laundering (AML) failures linked to convicted illegal bookmaker Mathew Bowyer, making it the fourth major Las Vegas Strip casino penalized over the same case.
The proposed settlement was filed by the Nevada Gaming Control Board (NGCB) on 25 June and still requires approval from the Nevada Gaming Commission, which is expected to review the agreement at its August meeting.
According to regulators, the investigation focused on Bowyer’s gambling activity between 2019 and 2024, during which casino staff allegedly failed to properly verify the source of his funds, investigate repeated warning signs and prevent him from continuing to gamble despite concerns over his involvement in illegal bookmaking.
Authorities also claim Bowyer’s casino host had direct knowledge of his illegal betting operation but failed to escalate the information to management. The complaint further alleges the Venetian did not conduct an adequate internal investigation and delayed banning Bowyer until 2024, after learning he had become a person of interest in a wider regulatory probe involving another Las Vegas casino.
Court filings state Bowyer visited the Venetian around 30 times between 2019 and 2021, depositing roughly $22.3 million and losing approximately $3.6 million during that period. Regulators indicated the settlement amount was designed to exceed the casino’s financial benefit from Bowyer’s gambling activity, reflecting a broader effort to ensure operators do not profit from compliance failures.
As part of the agreement, the Venetian admitted the allegations outlined in the complaint and accepted a series of compliance measures. These include enhanced employee training, strengthened AML policies, regular reviews of internal controls and closer cooperation with Nevada regulators.
The case is unusual because much of the conduct occurred before Apollo Global Management acquired the Venetian’s operations from Las Vegas Sands in 2022. However, under successor liability rules, Apollo inherited the property’s regulatory responsibilities along with its assets.
Bowyer pleaded guilty in federal court in 2024 to charges including money laundering and filing false tax returns. Earlier this year, Nevada authorities added him to the state’s “Black Book”, permanently excluding him from licensed casinos.
The Venetian joins Resorts World Las Vegas, MGM Resorts International and Caesars Entertainment, all of which previously reached multimillion-dollar settlements over similar AML failures connected to Bowyer. If the latest agreement is approved, total regulatory penalties linked to the bookmaker will reach $34 million, highlighting Nevada’s increasingly aggressive enforcement of AML and source-of-funds requirements across the casino industry.