Fontainebleau President Maurice Wooden won approval for key executive licensing with a two-year limitation, despite the disclosure of the investigation.
Fontainebleau Las Vegas is under investigation by the Nevada Gaming Control Board for the issuance of credit to gamblers that may have violated Bank Secrecy Act anti-money-laundering practices.
The investigation was inadvertently disclosed during testimony for Fontainebleau President Maurice Wooden’s application for licensure as a key executive for the property.
Wooden ultimately was licensed in a unanimous vote, but not before commissioners placed a two-year limitation on the license that will require him to return for another appearance in 2027.
Commissioners were provided information about the investigation in a report addressing Wooden’s licensure, but ongoing investigations typically are not disclosed publicly. During the hearing, commissioners discussed an audit that discovered irregularities in the issuance of credit by Fontainebleau owners. Wooden is not an owner, but commissioners were concerned about whether he knew of the credit issuance.
Commissioners also delved into Wooden’s tenure as an executive at Wynn Las Vegas, which was disciplined over its failure to investigate assault allegations prior to the departure of former chairman and CEO Steve Wynn in 2018. Steve Wynn has denied ever assaulting anyone.
The discussion about the investigation was abruptly shut down by Gaming Control Board Chairman Kirk Hendrick.
“This is currently under investigation and it’s therefore confidential by law,” Hendrick said. “So I don’t want to go any deeper into this matter until the board has an opportunity to review it and, of course, speak with the licensee.”
The investigation comes at a time when state gaming regulators are particularly concerned about money-laundering issues after fining three Strip properties — MGM Resorts International, Genting Group, operators of Resorts World Las Vegas, and Wynn Resorts Ltd. — over complaints related to gamblers playing illegally at Las Vegas resorts.
Throughout Thursday’s meeting, commissioners frequently reminded prospective licensees to keep compliance to anti-money-laundering laws top of mind.
During testimony, commissioners indicated the disclosure of the investigation concerned them enough to consider voting against Wooden’s licensure, but they ultimately agreed to it with the two-year limitation.
Wooden’s attorney suggested to commissioners that it would have been unfair to him to deny licensure over a separate matter that hasn’t been resolved.
“With regard to the investigation of Mr. Wooden’s key employee application, this issue (credit issuance questions) was never raised,” said attorney Dan Reaser. “So the ability to respond to it was eliminated until today. I believe that in all respects from having dealt with the agents that the application investigation as to his probity and acumen for this license is complete.”
