Casino News & “Sin City” Drama
The major headline out of Las Vegas this December involves MGM Resorts and Resorts World Las Vegas (RWLV) facing massive fines for Anti-Money Laundering (AML) failures.
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MGM’s $8.5 Million Settlement: In early December 2025, Nevada regulators approved an $8.5 million fine against MGM Resorts. This stems from a high-profile scandal involving illegal bookmakers (including Wayne Nix and Matt Bowyer) being allowed to gamble with impunity at the MGM Grand and The Cosmopolitan.
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The Sibella Fallout: Scott Sibella, the former president of both MGM Grand and RWLV, was the central figure. He was sentenced to probation earlier in the year, but the drama continues as his gaming license was officially revoked this month, barring him from the industry for years.
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New York City’s Casino War: The race for the three available downstate New York casino licenses is heating up. Recently, the selection board expressed “significant concerns” regarding the transparency and “rosy” financial projections of top contenders like Bally’s and Resorts World.
🎟️ Lottery Drama & “The Big Heist”
The lottery world is currently split between a massive nationwide jackpot and a legislative battle in Texas over how tickets are bought.
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Christmas Eve Billionaire: The Powerball jackpot for tonight’s Christmas Eve (Dec 24, 2025) drawing has climbed to a staggering $1.7 billion. This follows a $1.25 billion run earlier in the month that failed to produce a grand prize winner, marking one of the longest “dry streaks” in the game’s history.
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The “Texas Scheme” Controversy: Earlier this year, it was revealed that a professional gambling group from Australia used high-speed printers to “buy out” nearly every combination of a $57 million Texas Lottery jackpot. This has led to a massive crackdown in late 2025:
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Courier Ban: Texas officials are moving to ban third-party lottery apps (like Jackpocket).
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Withheld Winnings: An $83.5 million winner from February 2025 is still waiting for her payout because her ticket was bought through one of these apps, leaving her caught in the legal crossfire.
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⚖️ Legal & Industry Shifts
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Tax Changes: There is serious talk in Washington about raising the federal excise tax on gambling from 0.25% to 5% to help fund addiction treatment and offset other tax cuts.
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The “Trump Effect” on Betting: Recently, discussions have emerged regarding President Trump potentially ending federal levies on gambling winnings, which has sent sports betting stocks into a speculative frenzy.
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Prediction Markets: The CFTC (under new leadership as of 2025) is holding roundtables on whether to officially allow betting on elections and sports as “event contracts,” a move the American Gaming Association is lobbying heavily against.
