Gaming board refers proposal on money laundering to staff
By Richard N. Velotta, Las Vegas Review-Journal
The Nevada Gaming Control Board will refer a proposal to strengthen money-laundering regulations for sports books to its staff to determine if it would create additional burdens on its tax and audit divisions.
The board on Thursday conducted a workshop on a proposed regulation that was unusual in that it was generated by petition from a licensee. Board members were concerned that the proposal urged in a petition by Mesquite Gaming was motivated by competitive reasons.
Representatives of Mesquite Gaming told regulators they wanted them to close a loophole involving sports wagering payouts in excess of $10,000 from satellite books that commonly exist in rural locations.