https://igamingbusiness.com/legal-compliance/regulation/fontainebleau-money-laundering-investigation-nevada/

The tentacles of anti-money laundering scandals appear to be extending themselves further and further throughout southern Nevada, with the Fontainebleau Las Vegas said to be the latest focus. It was inadvertently revealed at last week’s Nevada Gaming Commission meeting that the casino is facing an AML probe over credit approvals.

Fontainebleau, owned by Jeffrey Soffer and Koch Real Estate Investments, is the newest addition to the Las Vegas Strip. It was beset by many years of delays and ballooned in costs to $3.7 billion before opening in December 2023. News of it being the subject of a probe slipped out in the course of commission discussion regarding the licence of Maurice Wooden, who has been president of the resort since January 2024.

Wooden at one point was asked by Commissioner Rosa Solis-Rainey to tell her “about the issues that are currently going on at the Fontainebleau with respect to credit issuance”, per the Nevada Current. His response, per the outlet, was, “I’m not sure of any investigation as it relates to anything with AML. Is there something specific? I’m not sure.”

That then kicked off a tense quarrel between officials, as information that an investigation is taking place was supposedly confidential. Nevada has two regulatory bodies, the Gaming Control Board and the Gaming Commission. The NGCB handles investigations and gives recommendations to the commission for final ruling. NGCB Chair Kirk Hendrick was present and asked that the discussion be stopped immediately.

“I don’t want to go any deeper into this matter until the board has an opportunity to review it and, of course, speak with the licensee,” Hendrick said, per the Nevada Independent. “There’s no problem with the commission having that material.”

The NGCB did not immediately respond to a request for comment on the investigation Tuesday.

LeForbes could be connected

Despite the confusion, Wooden’s licence was approved unanimously, albeit on a limited two-year basis while the matter plays out. The NGCB had notably recommended an unlimited unlicence. In a statement, the Fontainebleau referred to the matter as an “ongoing audit”, and said it was “pleased that Maurice Wooden was found suitable”.

While no official details regarding the investigation have been released, statements made during the hearing indicate that the board became aware of instances in which the casino’s management denied credit to one or more customers, with those denials then overruled by ownership. A total of five player accounts were audited and the board took issue with three, per Fontainebleau executive Stacy Michaels.

According to reporting from the Current, the casino reportedly issued a $2 million marker in January 2024 to Damien LeForbes, an illegal bookmaker and former pro poker player. He has had a role in other Las Vegas AML investigations in recent months, including those with MGM Resorts and Resorts World Las Vegas. LeForbes is connected to Matt Bowyer, another bookmaker at the centre of these scandals.

RJ Cipriani, a professional gambler and whistleblower in many of these cases, alleged last year that LeForbes took winnings that were made off that credit and paid other debts around town before ultimately blowing through the marker itself.

“All the casinos that took DJ LeForbes’ and Matt Bowyer’s action are being investigated by GCB,” Cipriani told the Current last week.

Familiar faces

This recent string of investigations across the Vegas casino industry give the impression of an incredibly small world. Many of the same offenders and casino executives, including Wooden, have had their names connected in some way to multiple investigations.

Prior to joining Fontainebleau, Wooden served as president of Wynn Las Vegas from 2013-2018. Wynn, at that same NGC hearing Thursday, was fined $5.5 million for AML violations related to unlicensed money transfers. The timeline of those violations aligned in part with Wooden’s tenure at the casino.

Wynn Las Vegas will pay $5.5M for anti-money laundering violations involving years of unlicensed money transfers, the latest in a string of Strip fines this year https://t.co/HQpMhTNep1 https://t.co/HQpMhTNep1

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“AML is one of the most important topics, if not the most important, we discuss in our leadership meetings,” Wooden insisted during his licensing discussion last week.