Federal officials investigating money-laundering allegations at Caesars Palace
In a filing with the Securities and Exchange Commission, Caesars said it received a letter from the Financial Crimes Enforcement Network of the Treasury Department earlier this month alleging violations of the Bank Secrecy Act.
The division, known as FinCen, is determining “whether it is appropriate to assess a civil penalty and/or take additional enforcement action against Caesars Palace.”
Caesars said it would cooperate with federal grand jury investigation into the matter and the FinCen probe.
“Based on proceedings to date, the Registrant is currently unable to determine the probability of the outcome of these matters or the range of reasonably possible loss, if any,” Caesars said in the filing.
The investigation was revealed in the same filing in which Caesars explained its reasons to withdraw from the process to earn and Massachusetts gaming license and its severing of a deal with the Gansevoort Hotel Group in a Strip casino redevelopment project.
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