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Genting to pay US$10.5mil fine in Nevada gaming settlement

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Genting to pay US.5mil fine in Nevada gaming settlement


KUALA LUMPUR: Genting Bhd has agreed to pay a US$10.5mil fine to the Nevada Gaming Commission as part of a settlement over a complaint related to the operations of Resorts World Las Vegas.

Genting, in a filing with Bursa Malaysia, said its board of directors together with its unit Resorts World Las Vegas LLC (RWLV LLC) has signed the stipulation for settlement and order with Nevada Gaming Control Board (NGCB) dated March 20.

According to the terms of the settlement, RWLV LLC did not admit or deny the allegations in the complaint filed by the NGCB on Aug 15, 2024 but agreed to greater scrutiny of its anti-money laundering (AML) programme and practices.

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RWLV LLC is also required to retain all employees’ training records of the AML programme including attendance records.

It will also submit an independent audit of its AML compliance to the NGCB two years after the settlement is approved, covering the two years prior.

The settlement deal is still subject to approval by the Nevada Gaming Commission at its next monthly meeting on March 27.



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Mansion on the Nevada Side of Lake Tahoe Swiftly Sells for $46 Million

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Mansion on the Nevada Side of Lake Tahoe Swiftly Sells for  Million


A waterfront mansion on the Nevada side of Lake Tahoe just sold for $46 million, less than three weeks after hitting the market. 

The speedy deal marks a departure from the typical U.S. market.

Nationwide, homes took a median 78 days to land a buyer in January, five more than the same time last year and the 22nd straight month of homes taking longer to sell on a year-over-year basis, according to data from Realtor.com. 

Mansion Global Boutique: Book Lovers Rejoice: 8 Must-Haves To Build Your Perfect Reading Nook

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The lavish log cabin-like residence, in Incline Village, listed on Jan. 24 for $47.5 million. It sold 20 days later, on Feb. 13, listing records show. 

The more than 7,000-square-foot residence was built in 2014, and has double-height living spaces, walls of windows, beamed ceilings, fireplaces, and plenty of rustic exposed stone and wood, listing images show. 

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There’s also a gym, a wet bar, a spa, a wine room, an office, two separate game rooms, seven bedrooms and dramatic Lake Tahoe views. Outside, there’s a private sandy beach, multiple decks, a heated driveway and two exterior fireplaces, according to listing information. 

MORE: Visited by Kings and Larger Than Manhattan, Giant Scottish Estate Asks £67 Million

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The seller and the buyer are both limited liability companies, according to property records. Both parties were represented by Jeff Brown of Tahoe Mountain Realty, who declined to comment on the deal. 

The median home price in Incline Village was $1.595 million as of December, a fall of 3.3% from a year earlier, according to data from Realtor.com. Listings, meanwhile, spent an average of 130 days on the market. 



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Green Valley edges Liberty in Class 5A softball — PHOTOS

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Green Valley edges Liberty in Class 5A softball — PHOTOS