Bellagio agrees to pay $25,000 fine for cash violations

Friday, Sept. 27, 2002 | 10:57 a.m.

The Bellagio hotel-casino on the Las Vegas Strip has paid a $25,000 fine to the state for violating cash transaction regulations involving a high-end player.

The resort and the state Gaming Control Board filed a stipulation Thursday with the state Gaming Commission. The hotel admitted the facts alleged in the complaint. The fine could have been up to $250,000.

The complaint, drafted by Deputy Attorney General Jennifer Carvalho, said last Nov. 30, player Edward "Mike" Davis and Casino Shift Manager Pat Laman approached the baccarat cage. Davis asked to exchange $20,000 in cash for older bills since the bills were new and they gave him paper cuts.

The cage cashier, the assistant cage supervisor and the cage supervisor all refused to make the exchange, saying it violated state regulations. Despite the warning, Laman went to an empty blackjack table and exchanged the $20,000 cash for four $5,000 chips.

Davis then took the chips and returned to the cage, where he received cash for the chips.

The MGM MIRAGE casino said Davis "has had a long and valued relationship with the Bellagio and has always cooperated with the Bellagio in providing the information necessary to allow the Bellagio to comply" with state accounting regulations.

The Bellagio said it reported the incident to state regulators within 20 minutes and took disciplinary against Laman.

Bruce Aguilera, vice president and general counsel for the Bellagio, and Las Vegas lawyer Robert Faiss signed the consent for the hotel, saying the settlement is to avoid litigation and economize resources.

The regulations say that if a player deposits cash of more than $3,000 in the cage, the casino must return the same bills as were deposited. The regulation complies with federal law that was passed to stop money laundering by criminals.