Fontainebleau is 4th Vegas Casino Investigated for Money Laundering
Posted on: May 23, 2025, 11:22h.
Last updated on: May 23, 2025, 11:23h.
Fontainebleau is the fourth Las Vegas Strip casino in a little over a year known to be investigated by Nevada gaming regulators for potentially violating anti-money laundering (AML) laws, according to the Nevada Independent.
The new investigation was inadvertently revealed during a routine Nevada Gaming Commission (NGC) licensing meeting on Thursday, May 22. During the meeting, members of the public and press gathered to witness a vote on Fontainebleau President Maurice Wooden’s application for key executive licensure, which was recommended two weeks prior by the Nevada Gaming Control Board (NGCB).
But That’s Not All They Witnessed
During the meeting, commissioners briefly discussed an NGCB investigation into a denial of credit to a Fontainebleau customer that was overruled by the property’s ownership — possibly in violation of the Bank Secrecy Act. (Fontainebleau Development, led by Jeffrey Soffer, opened the $3.7 billion Strip property in December 2023.)
Commissioners learned of the investigation through a report provided as background material for Wooden’s licensing.
Wooden, who was named president of Fontainebleau in January 2024, expressed no knowledge of the investigation, stating: “I don’t know of any of the questions you’re asking about right now.”
The discussion was quickly shut down by NGCB chair Kirk Hendrick.
“This is currently under investigation and it’s therefore confidential by law,” he said, adding that the report probably should have been marked “confidential” or “under investigation.”
“So I don’t want to go any deeper into this matter until the NGCB has an opportunity to review it and, of course, speak with the licensee,” Hendrick said.
Wooden was licensed via a unanimous vote of the five-member commission, but only with a two-year limitation that will require him to reapply again in 2027.
According to the Independent, several commissioners felt uncomfortable issuing a full gaming license with an AML investigation ongoing at Fontainebleau.
“This is no disparagement to you,” Brian Krolicki told Wooden. “It’s just that we are aware of information, and we can’t unknow it.”
Not by the Book
Since 2023, the NGCB has investigated MGM Resorts and Resorts World for AML violations prompted by federal probes into illegal bookmaking. The investigations gained attention after Scott Sibella, former president of both casinos, pleaded guilty in 2024 to violating the Bank Secrecy Act by failing to report suspicious transactions involving illegal bookmaker Wayne Nix at MGM Grand. Similar AML lapses occurred at Resorts World during Sibella’s tenure.
Wynn Resorts was next in the NGCB’s crosshairs in May 2025, following a September 2024 federal investigation for Bank Secrecy Act violations involving unlicensed money transfers and proxy betting by international patrons at Wynn Las Vegas.
In March, the NGCB fined Resorts World $10.5 million to settle its charges. In April, MGM Resorts agreed to pay $8.5 million and, earlier this month, Wynn Resorts agreed to $5.5 million.
The Bank Secrecy Act, officially known as the Currency and Foreign Transactions Reporting Act of 1970, is a federal law designed to combat money laundering and financial crimes. It requires financial institutions, including banks and casinos, to maintain records, file reports, and implement anti-money laundering programs to detect and prevent illicit financial activities.
Last Comment ( 1 )
Maurice Wooden knew all about the dirty deeds of Steve Wynn and did NOTHING. Why would he change now? He allowed illegal bookies and anyone with a big bankroll to come in and play. Never mattered to him or any casino president like Scott Sibella. They were both taught well by Steve Wynn on how to be a corrupt operator be quiet and take the money at all costs!!! Fire him immediately!