Bicycle Casino pays $500,000 settlement after AML investigation
| By Marese O'Hagan
Los Angeles-based Card room Bicycle Casino has agreed to pay a settlement of $500,000 and undergo an enhanced review after a Department of Justice investigation into potential anti-money laundering failings at the venue.
According to a non-prosecution agreement (NPA), the breaches took place after Bicycle Casino failed to appropriately file reports on an individual who conducted millions of dollars worth of cash transactions in 2016.
The individual, a Chinese national, typically played baccarat in VIP rooms with “huge sums of cash that on some occasions he transported to and from the casino in duffle bags”.