Caesars to Pay $9.5 Million to Regulators for Poor Oversight of Private Gaming Salons

By Colby Adams and Kira Zalan

Caesars Entertainment Corp. will pay $8 million to the U.S. Treasury Department and $1.5 million to Nevada's gaming regulator for failing to police its wealthiest gamblers since February 2012. In a civil monetary penalty published Tuesday, the Financial Crimes Enforcement Network (FinCEN) said the company's Las Vegas-based Caesars Palace "allowed a blind spot to exist in its compliance program-private gaming salons-enabling some of the most lucrative, and riskiest," transactions to take place with little oversight. Although Caesars Palace marketed the salons through branch offices in Hong Kong, Singapore, Tokyo and California, it did not sufficiently monitor large wire transfers or...