News May 2025
Original Baha Mar owner wins out in court Legislation
Sarkis Izmirlian, the original owner of Bahamas' casino resort Baha Mar, has won out in a long-running legal battle with former partners in the project China Construction America. A New York appeals court has rejected the
appeal from China Construction America, lodged against a Supreme Court decision in October, forcing it to pay US$1.6bn Mr Izmirlian’s BML Properties, upholding the ruling that China Construction America was guilty of 'many acts of fraud' when it took control of the property. Te appeals court dismissed CCA’s claim that the trial court had applied the wrong legal standard for fraud, highlighting internal communications used in the trial, which proved
MGM fined $8.5m for AML breaches Operator News
MGM Resorts will pay US$8.5m as part of a settlement with the Nevada Gaming Control Board following a complaint over money laundering breaches involving former MGM Grand President Scott Sibella. Te complaint alleges unsuitable methods of
operation arising from the activities of illegal bookmaker, Wayne Nix, which were described in non-prosecution agreements between the US Attorney’s Office for the Central District of California and MGM Grand and Te Cosmopolitan. Te complaint also details the activities of another illegal bookmaker, Mathew Bowyer,
Dealer collusion exposed in Ontario Operator News
Te Registrar of the Alcohol and Gaming Commission of Ontario (AGCO) has issued a monetary penalty totalling $120,000 against Ontario Gaming GTA Limited Partnership, alleging they failed to detect a cheat-at-play and dealer collusion scheme at Great Canadian Casino Resort Toronto. In March 2024, the Ontario Provincial Police
Investigation and Enforcement Bureau (IEB), embedded within the AGCO, laid charges against
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that despite CCA announcing in public that the project would open on March 27, 2015, it privately acknowledged that the timeline was not achievable. “Te evidence established that defendants misrepresented their ability to perform, which is sufficient to support a finding of fraud,” the ruling stated. Mr Izmirlian said: “We are grateful that the
Appellate Court upheld Justice Borrok’s judgment, once again confirming that CCA’s multiple acts of fraud and breaches caused the Baha Mar project to miss its opening, resulting in the subsequent loss of our entire investment.”
Te Star says ‘yes’ to Bally’s $300m rescue Operator News
Te Star Entertainment Group has entered into a binding term sheet with Bally’s Corporation with respect to a multi-tranche convertible note and subordinated debt instrument with an aggregate principal value of $300m. Te agreement follows the collapse of a $750m refinancing package with Australian investment firm Salter Brothers. Soo Kim, Chairman of Bally's, said: "Tis transaction
provides Bally's the opportunity to infuse Te Star with what it needs to regain its position as Australia’s preeminent gaming destination.”
anti-money laundering programme. Te filing suggests that Sibella and several MGM casino hosts knew Nix and Bowyer were gambling despite awaiting sentencing for federal gambling charges, but that they allowed the gambling to continue. It details that then-MGM Grand president Scott Sibella ‘approved complimentary rooms, food service, and event tickets for Mr. Nix, and invited Mr. Nix on marketing trips to encourage him to gamble at the MGM Grand.’ Nix is said to have gambled on MGM gaming
which were discovered by the NGCB during the course of its investigation. Te complaint’s allegations centre on the actions and failures of MGMRI’s employees in relation to Mr. Nix and Mr. Bowyer, as well as deficiencies within MGMRI’s
five individuals. Te charges followed an investigation into allegations that two table games dealers at Great Canadian Casino Resort Toronto were in collusion with a group of casino patrons. Te AGCO conducted a subsequent compliance
review and confirmed that the dealers had engaged in a cheat scheme on multiple occasions with the same group of patrons, leading to nearly $20,000 in illicit winnings in less than one week. Te scheme involved the alleged execution of
various dealer cheat moves, including intentionally exposing cards that were supposed to remain face down while dealing, inappropriately
floors on 400 different days with each day marking a separate violation. Te complaint states that a Cosmopolitan host ‘went to dinner with Mr. Nix, invited Mr. Nix to casino-sponsored events, and encouraged Mr. Nix to travel and stay at the Cosmopolitan to use the illegal proceeds.’
overdrawing the dealer’s cards, and issuing overpayments on winning hands. Te AGCO’s review found Great Canadian
Casino Resort Toronto’s surveillance and supervisory pit staff failed to detect the cheat scheme. Further, the review determined that casino staff failed to follow proper table games audit procedures, which are intended to ensure rules of play are followed by dealers and patrons. Tis is Great Canadian Casino Resort Toronto’s second recent incident involving allegations of a cheat-at-play and dealer collusion at the casino. Te operator has the right to appeal the decision.
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