The current operators of The Venetian Resort Las Vegas will pay a $7.2 million fine to Nevada gaming regulators over the illegal gambling activities of convicted bookmaker Mathew Bowyer, according to a stipulated settlement.

However, a four-count complaint, which was posted to the Gaming Control Board's website along with the settlement on June 25, stated the bulk of the illegal gambling activity took place from 2019 to 2021, when Las Vegas Sands Corp. operated the resort.

The Strip complex, which includes the Palazzo, was acquired by Apollo Global Management from Las Vegas Sands as part of a $6.25 billion transaction in February 2022. Venetian agreed to the settlement with the control board. The Nevada Gaming Commission is expected to consider the agreement at its hearing in August.

State gaming agents said Bowyer made 30 trips to The Venetian during that three-year time period, making deposits into the casino of approximately $22.3 million. He wagered "millions of dollars and lost at least $3.6 million to the Venetian," according to the complaint.

A Venetian casino host knew as far back as 2019 that Bowyer was an illegal bookmaker, according to the complaint. Casinos are expected by regulators to "know their customer" and be reasonably familiar with how high rollers can afford to play.

"The Venetian's failure to conduct adequate due diligence to substantiate Bowyer's source of funds and/or that his source of funds did not support his level of play," according to the complaint, adding that allowing Bowyer to gamble at the resort "undermined the Venetian's (anti-money laundering) program." 

Apollo was forced to cover the fines associated with Bowyer's activity during Sands' ownership because it acquired the assets and liabilities as part of the purchase —  a legal definition that means a buyer inherits the full history of the business, including debts and obligations.

The Venetian operators banned Bowyer from the property in March 2024 when presented with information about his illegal bookmaking activities.

Las Vegas attorney Greg Brower, who represents The Venetian, said Thursday that company representatives would not comment until August at the commission hearing. The settlement was signed by Venetian CEO Patrick Nichols. A spokesman for Las Vegas Sands declined to comment.

With the $7.2 million coming from The Venetian, Bowyer's illegal gambling activities have now cost four casino operators a combined $34 million in fines. MGM Resorts International ($8.5 million), Caesars Entertainment ($7.8 million) and Resorts World Las Vegas ($10.5 million) all agreed to stipulated settlements with the board last year.

Control Board Chairman Mike Dreitzer declined to comment until the settlement is heard by the gaming commission. However, he noted the issues surrounding Bowyer led to Nevada revising its anti-money laundering (AML) regulations in April. He said at the commission meeting that the board worked with money laundering experts and the casino industry.

"We heard and saw loud and clear that there were limitations and concerns with AML," Dreitzer said. "The industry has seen that and resoundingly got around this culture of compliance and the need to put compliance over commerce. We believe these (regulations) will make real differences." 

In 2022, Apollo paid Sands $2.25 billion for the operations of The Venetian and The Palazzo. Real estate investment trust VICI paid Sands $4 billion for the 63 acres housing the resorts. Apollo pays VICI $308.7 million in annual rent for The Venetian and The Palazzo.

In 2013, Las Vegas Sands reached a deal with federal prosecutors to pay more than $47.4 million to the U.S. government in order to avoid criminal charges over alleged money laundering activities. Sands officials declined to comment on the settlement. The company operates casinos in Macau and Singapore and has been lobbying unsuccessfully for more than a decade to legalize gaming in Texas.

Bowyer banned from Nevada casinos

Bowyer was placed on Nevada's list of persons excluded from entering a casino in the state — commonly referred to as the Black Book — in April. His relationship with longtime gaming executive Scott Sibella led to former Resorts World and MGM executive's expulsion from the gaming industry.

In 2024, Bowyer pleaded guilty to federal charges of running an illegal gambling business, money laundering and filing a false tax return. He was also ordered to pay the IRS more than $1.6 million in restitution. Bowyer was sentenced in August 2025 to 12 months and one day in prison that began on Oct. 10, 2025, at the low-security Federal Correctional Institution in Lompoc, California. However, he was paroled in March.

His case made headlines worldwide after it was revealed he had taken thousands of bets from the Japanese interpreter for baseball star Shohei Ohtani of the Los Angeles Dodgers. Bowyer cooperated with IRS and Department of Homeland Security agents and the U.S. Attorney's Office in the Central District of California in their investigation.

The guilty plea resulted from his operation of what the government said was "an unlicensed and illegal bookmaking business that focused on sports betting and violated a California law that prohibits bookmaking."