Genting Seeks Legal Advice After Resorts World Las Vegas Hit With Compliance Complaint

By Ying Xian Wong

Malaysian resorts operator Genting Bhd. is seeking legal advice after U.S. regulators alleged that its Las Vegas unit failed to bar suspected illegal bookmakers from taking part in gambling activities on its property, among other complaints.

Genting said late Friday that it took allegations by the Nevada Gaming Control Board against subsidiary Resorts World Las Vegas seriously, and that the unit was seeking to communicate with the board to resolve the issues raised. Genting said that it and its subsidiaries are committed to doing business "with the utmost integrity and in line with applicable laws and industry guidelines."

The gaming board last week filed a complaint with the Nevada Gaming Commission seeking disciplinary action against RWLV and related entities over what it said was RWLV's failure to restrict two suspected illegal bookmakers from gambling on the resort's premises and failure to restrict a convicted operator of an illegal gambling business, among other allegations related to the company's compliance culture, Genting said in a filing to the Malaysian bourse.

Other allegations included failure to establish suspected bookmaker's source of funds and failure to report a suspected illegal bookmaker, it said.

Shares of Genting were 1.4% lower in early trading Monday in Kuala Lumpur.

The gaming control board is seeking fines under the Nevada Gaming Control Act and action against the license registrations of Resorts World Las Vegas.

Write to Ying Xian Wong at yingxian.wong@wsj.com

(END) Dow Jones Newswires

August 18, 2024 23:02 ET (03:02 GMT)

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