Wynn Resorts announced Sept. 6 that it will forfeit $130 million as part of a non-prosecution agreement to settle a decade-long investigation by the U.S. Department of Justice related to unlicensed money-transmitting businesses facilitated by foreign bettors and now-former employees at Wynn Las Vegas.
The forfeiture is not considered a fine and Wynn will not face criminal charges. But the sum is believed to be the largest ever for a Nevada casino company in a DoJ investigation. In a statement to the Nevada Independent, the Nevada Gaming Control Board said it was aware of the agreement but didn’t indicate if it would open its own investigation.
Then on Sept. 10, the company announced it was extending $800 million in unsecured notes due in 2033 with a principal amount of 6.25 percent.
“Wynn Resorts Finance plans to contribute and/or lend a portion of the net proceeds from the offering to its subsidiary. Wynn Las Vegas LLC will use the amounts to redeem in full Wynn Las Vegas and Wynn Las Vegas Capital Corp.’s 5.5% senior notes due 2025, pay fees and expenses related to the redemption, and use the remainder of the net proceeds for general corporate purposes, which may include covering all or a portion of the $130 million forfeiture,” the company said in a statement.
