Former Resorts World President Faces Regulatory Consequences

The Nevada Gaming Commission has revoked the gaming license of Scott Sibella, the former President of Resorts World Las Vegas, following allegations of regulatory violations. This decision follows Sibella’s admission of failing to file a Suspicious Activity Report (SAR) during his tenure at MGM Grand and his association with Wayne Nix, a known illegal bookmaker.

Key Findings and Consequences:

Failure to File SAR: Sibella acknowledged his failure to file a SAR regarding suspicious activity involving Wayne Nix, a significant oversight in compliance with anti-money laundering regulations.

Ties to Illegal Bookmaker: Sibella’s association with Nix, despite Nix’s known involvement in illegal bookmaking activities, raised serious concerns for the Nevada Gaming Commission.

Regulatory Action: The Commission’s decision to revoke Sibella’s gaming license underscores the seriousness of these violations and serves as a strong deterrent for other industry executives.

Legal and Regulatory Ramifications: Sibella has faced legal consequences for his actions, including a guilty plea in federal court and a substantial fine.

Addressing Compliance and Integrity

This case highlights the critical importance of robust compliance procedures and a strong ethical framework within the gaming industry. Casinos and their executives have a responsibility to maintain the highest standards of integrity and adhere to all applicable laws and regulations.

The Nevada Gaming Commission’s decision sends a clear message that violations of anti-money laundering regulations will not be tolerated. This action reinforces the Commission’s commitment to upholding the integrity of the gaming industry and protecting the public interest.