...August 20, 2024 This report does not constitute a rating action. SINGAPORE (S&P Global Ratings) Aug. 20, 2024--Resorts World Las Vegas LLC (RWLV) is the subject of a complaint in the U.S. However, it is in the preliminary stages, and we will monitor to see if there are any financial or business implications. The Nevada Gaming Control Board filed a complaint on Aug. 15, 2024, against RWLV for failing to comply with anti-money laundering (AML) obligations, among other allegations, between 2021 and 2023. Genting Bhd. and other direct and indirect holding companies were also named in the complaint. Possible penalties include monetary fines and an action against the gaming licenses for the ownership and property operators. In January 2024, MGM Grand and The Cosmopolitan, both Las Vegas casinos, agreed to pay a total of US$7.45 million to settle charges involving alleged violations of AML laws and Bank Secrecy Act. This complaint comes after the departure of former RWLV President and Chief Operating...
