The Venetian Resort Las Vegas will pay $7.2 million to Nevada gambling regulators, bringing an end to an investigation into the casino’s dealings with illegal bookmaker Mathew Bowyer. This hefty punishment also serves to remind the state’s broader casino industry that high-value players sometimes come with hidden risks.
Bowyer Gambled Millions Without Adequate Checks
The Nevada Gaming Commission (NGC) approved the settlement with a 3-0 vote on Thursday. This $7.2 million marks the sixth-largest penalty ever imposed on a Nevada gambling company. The sum is twice the amount Bowyer lost at the casino, showcasing the scale of the violation. Fortunately for the Venetian, the case is now considered closed.
According to the complaint, Bowyer visited the venue at least 30 times between 2019 and 2021. During that time, the property was owned by Las Vegas Sands. Bowyer deposited roughly $22.3 million at the casino, wagered millions of dollars, and lost at least $3.6 million. The lack of in-depth checks raised serious questions.
Regulators were worried about more than just the amount Bowyer was gambling. Investigators discovered that a Venetian casino host was aware that Bowyer was operating as an illegal bookmaker as far back as 2019. Despite this information, regulators alleged that the casino failed to properly assess the risks associated with his gambling or carry out adequate due diligence on the source of these funds.
The Venetian Will Update Its AML Policies
Nevada casinos are required to monitor transactions for signs of gambling activity that might involve illicit funds. The observed failings in this case have led to more than financial punishments. The property is required to review its AML policies under the guidance of the NGC and conduct additional training for all personnel involved in high-volume transactions.
The fact that some of these violations occurred before Apollo Global Management acquired the company in 2022 was a mitigating circumstance. While the casino’s attorney argued that most of Bowyer’s losses occurred between 2019 and 2021, the NGC remained unmoved. The Venetian only banned Bowyer in 2024 after his case had drawn significant public attention.
Bowyer himself has pleaded guilty to running an illegal gambling business, money laundering, and filing a false tax return. His name also came up in a federal investigation involving Ippei Mizuhara, the former interpreter for Los Angeles Dodgers star Shohei Ohtani. According to authorities, Bowyer had accepted illegal sports wagers associated with Mizuhara.