The Nevada Gaming Commission on Thursday approved a $7.2 million fine against Venetian Las Vegas Gaming LLC, doing business as The Venetian Resort Las Vegas, over failures to stop convicted felon and illegal bookmaker Mathew Bowyer from playing, whose activity at the casino largely occurred between 2019 and 2021.
Commissioners approved the settlement 3-0, with commissioners Richard Schonfeld and George Markantonis recusing themselves over potential conflicts, reported the Las Vegas Review-Journal. Markantonis served as The Venetian’s general manager and COO from 2015 through Apollo Global Management’s 2022 acquisition before joining the Commission.
The fine is the sixth-highest assessed against a Nevada gaming company.
Bowyer, a Venetian patron dating to 1999, deposited more than $22.3 million during the three-year period, “wagered millions of dollars, and lost” at least $3.6 million, according to the Nevada Gaming Control Board’s four-count complaint.
Senior Deputy Attorney General Michael Somps said the resort had concerns about Bowyer’s source of funds by at least 2019 and that the casino host knew he was an illegal bookmaker because “he told him,” but failed to report it under the company’s anti-money-laundering program.
Apollo acquired The Venetian, Palazzo and Venetian Expo from Las Vegas Sands Corp. in a $6.25 billion transaction in February 2022. The June 11 complaint states that “the current owners of the Venetian … assumed all liabilities relevant to this matter relating to the business.” Successor liability is common in regulated industries, including gaming.
“It’s a mitigating factor that the current owners purchased The Venetian in 2022, and at that time they obtained a new gaming license and were in control of the operation,” Somps said. “The majority of Mr. Bowyer’s play was prior to 2022 under the previous owners.”
Attorney Greg Brower said only $88,000 of Bowyer’s $3.6 million in losses occurred after Apollo took control. Bowyer was banned from The Venetian on March 11, 2024, because of money-laundering concerns.
“I want to clearly state that my client, The Venetian, very much regrets the circumstances that led to this settlement agreement,” Brower said. “Clearly, more effective and timely due diligence and decision-making concerning Mr. Bowyer could have and should have been done relative to his source of funds … prior to 2022.”
Convicted felon and illegal bookmaker Mathew Bowyer
The settlement requires The Venetian to maintain or increase AML compliance staffing for at least two years, review its AML policy annually and provide changes to the Control Board chair.
Within 60 days, it must conduct in-person training for specified casino and marketing personnel and designate a person responsible for its AML program, while a suitability or licensing filing is due within 30 days.
The casino must also participate in FinCEN’s Section 314(b) information-sharing program. Control Board Chair Mike Dreitzer expects proposed regulations by year-end making participation mandatory for Nevada gaming licensees.
Bowyer-related fines against Las Vegas casinos now total $34 million, including $10.5 million against Resorts World Las Vegas, $8.5 million against MGM Resorts International and $7.8 million against Caesars Entertainment.
“This just infuriates me. This embarrasses me. It’s bad for Nevada. It’s certainly not good for our gaming industry,” Commissioner Brian Krolicki said. “But we try to make something good out of what we know is extremely bad.”
“I suspect the folks I really want in front of me are not in front of me,” Krolicki said. “I never want to see this again. Because if there is a phase two, you’ll get a different reaction from this commissioner.”
Original article: https://www.yogonet.com/international/news/2026/08/21/126013-venetian-las-vegas-fined-72-million-over-illegal-bookmakers-223-million-casino-activity
