Marnell Gaming received regulatory recommendation to proceed with its proposed purchase of the Sparks Nugget Casino, which recently was fined million.
The Nevada Gaming Control Board this month unanimously recommended licensing Marnell Gaming and its partner, MG Investors, to run the casino, which has a 1,382-room hotel. The Nevada Gaming Commission is scheduled to vote on the recommendation on April 21.
Marnell owns the Colorado Belle and the Edgewater casinos in Laughlin, and last month announced it agreed to buy the Sparks Nugget for an undisclosed sum, but it won’t be subject to the $1 million federal fine.
The Financial Crimes Enforcement Network (FinCEN) levied the $1 million fine for money laundering violations at the casino, after investigating the casino’s operations.
FinCEN said the casino’s managers “willfully violated” federal anti-money laundering laws and had a “systemic breakdown in its compliance program.”
The fine comes from the time casino founder John Ascuaga and his family owned the casino, but it was operated by a third party. The Ascuaga family expressed happiness that the investigation has concluded.
Michonne Ascuaga, daughter of John Ascuaga, in February resigned from the Nevada Gaming Commission, amid allegations of wrongdoing at the casino. She said the investigation had nothing to do with her or her family, as they did not operate the casino during the time that FinCEN says violations of the Bank Secrecy Act occurred.
