Park Place property fined

Friday, May 18, 2001 | 11:05 a.m.

The Nevada Gaming Commission on Thursday approved a $25,000 fine against Bally's/Paris Las Vegas for violations of the states's gaming currency transaction regulations.

The $25,000 fine agreed to in the settlement by the Park Place Entertainment Corp. property was the minimum that could be levied by the state for such a violation. Park Place operates the two properties as a single entity.

In its complaint, the control board said one of its agents deposited $5,000 in cash at the main cage of Bally's on Dec. 15 -- $4,000 in $20 bills, and $1,000 in $100 bills. When the agent picked up the cash three days later, it was given to the agent entirely in $100 bills.

This violates state gaming regulations, which require large amounts of currency to be returned in the same denominations in which they were deposited. This regulation is meant to thwart attempts to use casinos to launder money, and undercover control board agents regularly deposit money in casino cages to ensure compliance with the regulation.

The commission also approved a $500 fine against the Lotus Restaurant and Lounge, a restricted licensee located on Water Street in Henderson. An owner of the property sold stock, but failed to place the funds for the sale into an escrow account before the commission approved the sale.

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