High-Stakes Poker in Las Vegas Faces Uncertain Future Due to AML Regulations

New anti-money laundering (AML) regulations are causing significant changes in the high-stakes poker scene in Las Vegas. Several players have outlined the issues involving private tables in recent days. High-stakes player and Venetian host/game runner Brian Okin posted on X/Twitter that several major casinos’ recent AML violations have changed the games. That included allowing illegal bookmaker Matthew Bowyer to wager millions without determining the source of his funds. Regulators ultimately penalized The Venetian, Caesars, and MGM over the scandal.

Okin suggested that a Clarity Act for poker in Las Vegas could help regulate crypto transactions and potentially save high-stakes poker. In light of AML policing, crypto could play a bigger role in high-stakes poker transactions in the coming years. The Financial Crimes Enforcement Network enacted new AML and Countering the Financing of Terrorism regulations in April, which require more solid evidence of the source of funds players are using at the tables. That means the end of chip exchanges among players and more scrutiny for hosts and some of the host-to-player and player-to-player loans that keep many of the games running.

Game runner Boston Jimmy announced the end of a private high-stakes game at the Wynn, citing AML regulations. Another significant incident involved Britney Jing, who was removed from a cash game during the World Series of Poker due to anti-money-laundering regulations.