LAS VEGAS – Caesars Palace may pay a fine of $12 million to $20 million in a U.S. Treasury Department investigation into the casino's anti-money laundering practices.
Caesars Entertainment Corp. said in a quarterly financial filing Monday that the federal investigation focused on its flagship Las Vegas Strip property.
The Bank Secrecy Act requires financial institutions and casinos to assist federal agencies in detecting and preventing money laundering.
Caesars says it was made aware of investigations by the department's Financial Crimes Enforcement Network and a grand jury in October 2013. Caesars says it's cooperating.
The casino company says its representatives met with government officials April 29 and discussed a settlement. Caesars says it's considering the terms and will meet with federal officials again next month.