Breaking News Emails
Casino operator Wynn Resorts Ltd. said it was not aware of any investigation after the Wall Street Journal reported that the company is being probed by U.S. authorities for possible violation of money-laundering laws. "We are not aware of any investigation of the company and no agency has notified the company that it is under any investigation," company spokesman Michael Weaver said in an email. The Internal Revenue Service sent a letter to Wynn's outside lawyer requesting information on the company's U.S. and foreign clients, its domestic and overseas marketing offices, and its internal controls, the WSJ reported.
"As a highly regulated business we are in a constant dialogue with regulators and governmental agencies on a variety of matters and the fact that information is requested from us by an agency in no way implies the accusation of wrongdoing by the company," Weaver said. The IRS specified it wants information about the company's safeguards against money laundering, the WSJ said. Other casino operators including Las Vegas Sands Corp. and Caesars Entertainment Corp. have also faced federal investigations related to money-laundering laws.