Resorts World Las Vegas is facing a challenging period as it navigates significant regulatory and operational hurdles. The megaresort recently laid off fewer than 50 full-time employees as part of a restructuring effort aimed at enhancing efficiency and maintaining a high-quality guest experience. This move comes as the company prepares to address a disciplinary complaint from the Nevada Gaming Control Board, which alleges non-compliance with anti-money laundering regulations.
The complaint, which initially included references to organized crime, has been amended, and the resort is set to pay a $10.5 million fine if the Nevada Gaming Commission approves the settlement. This fine would be the second-largest ever imposed by state regulators. In addition to the financial penalty, Resorts World is required to report on anti-money-laundering activities and provide updated training to its compliance team.
In response to these challenges, Resorts World has been restructuring its leadership. Notable additions to the board include Jim Murren, A.G. Burnett, and Brian Sandoval, all of whom bring significant experience in gaming and regulatory affairs. Alex Dixon was appointed CEO earlier this year, and Carlos Castro has taken on the roles of COO and CFO. These changes reflect the company’s efforts to strengthen its management team and navigate the current regulatory landscape.