Wynn Resorts’ transformation since AML violations has been a topic of discussion among Nevada’s gaming regulators. Recently, Brian Gullbrants, the chief operating officer of Wynn Resorts North America, addressed these changes when he spoke to the Nevada Gaming Control Board. The board, recognizing improvements, recommended Gullbrants for a finding of suitability as an officer to the Nevada Gaming Commission. Learn more about the impact of AML in the casino industry from our recent insights.
Wynn Resorts’ Transformation Since AML Violations: A New Era
During the meeting, board member George Assad expressed concerns about potential federal intervention in Nevada’s gaming industry due to AML violations. In 2024, Wynn Resorts forfeited $130 million to the U.S. government for such violations. Additionally, the Nevada Gaming Commission imposed a $5.5 million fine on Wynn for these offenses. In 2019, the company faced a $20 million penalty for failing to investigate allegations against its founder, Steve Wynn, and a $35.5 million fine from Massachusetts for nondisclosure.
Gullbrants highlighted significant changes within the company. With a compliance board established for five years and an independent compliance monitor assigned by the Massachusetts Gaming Commission, Wynn Resorts has made strides in ensuring regulatory adherence. He emphasized the company’s shift from being founder-led to having a more compliance-focused structure.
Commitment to Culture and Compliance
Gullbrants spoke about setting the right tone for new employees and prioritizing respect and accountability. He cited a recent incident where a high-profile customer was banned for inappropriate behavior, underscoring the importance of valuing employees over customer status. This approach supports a desired work culture where employees feel heard and issues are promptly addressed.
Board member Assad highlighted the importance of maintaining Nevada’s gold standard in gaming, emphasizing the critical role of AML and the Banking Secrecy Act compliance. He mentioned ongoing discussions about a potential federal gaming commission and tax implications, stressing the need for the industry to demonstrate its ability to self-regulate. For more information on federal regulations affecting gambling, check Legal Sports Report.
Kate Lowenhar-Fisher, poised to become IGT’s compliance officer following its merger with Everi, discussed the common compliance issues facing major licensees on the Las Vegas Strip. She pointed to internal cultural breakdowns and emphasized keeping marketing and compliance departments separate to prevent conflicts of interest. Gullbrants echoed similar sentiments, reinforcing Wynn Resorts’ commitment to placing compliance above all.
