Casino operator Caesars Entertainment Corp (CEC) has reportedly reached a deal to resolve Department of Justice claims of slipshod anti-money laundering (AML) protocols.
On Saturday, Reuters reported that CEC had reached a deferred prosecution agreement with the DOJ, under which it will pay $20m to satisfy criminal charges and parallel civil investigations by the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN).
In October 2013, CEC announced it was under investigation for AML lapses at its Caesars Palace property in Las Vegas. The activity in question reportedly related to wagers placed at the property’s sportsbook by illegal betting rings.
Reuters’ sources claimed that FinCEN had been pushing the DOJ to resolve its investigation and had threatened to unilaterally pursue its civil action if the matter wasn’t resolved quickly. FinCEN’s pushiness reportedly caused some tension between it and the DOJ.