The Singapore casino of billionaire Sheldon Adelson’s Las Vegas Sands Corp is being probed by the US Department of Justice over whether anti-money laundering regulations were breached in the way it handled the accounts of top gamblers.
The Justice Department in January issued a grand jury subpoena to a former compliance chief of Marina Bay Sands Pte, seeking an interview or documents on “money laundering facilitation” and any abuse of internal financial controls, according to a copy of the subpoena seen by Bloomberg News.
Prosecutors asked the former compliance head, as a person with knowledge of the casino’s operations, to produce records related to any such violations including through gambling junkets and third-party lending using casino credit, the document shows.
Marina Bay Sands is one of the most profitable casinos in the world, accounting for more than a fifth of revenue and about a third of operating income at the US parent.
Las Vegas Sands’ Asian operations, which also include Macau, contributed about 85% of the company’s US$13.7 billion in revenue last year, and have helped make Adelson one of the richest men in the US.
A spokeswoman for the US Attorney’s Office in Las Vegas said she couldn’t confirm or deny ongoing investigations. The subpoena also requested information on another former casino employee, who people familiar said carried out fund transfers to high rollers.
In a written response, the Singapore casino said any suggestion of inappropriate activity is taken seriously, and it has investigated every assertion of wrongdoing brought to its attention.
Marina Bay Sands and its parent company haven’t received any requests from the Department of Justice, according to people familiar with the matter.
Online Casino Malaysia
Unlike most other casino gaming review sites online which target Western markets, GamingSafe.net is the very first site to specifically target Online Casinos Malaysia, Thailand, and Indonesia, giving us a better view of the online gaming landscape in this region. We review the site, you enjoy the game! View our Top Trusted Online Casino Malaysia.