Casino operator Las Vegas Sands to pay $47.4 million for failing to report suspicious deposits

Casino operator Las Vegas Sands Corp. has agreed to pay $47.4 million after failing to report millions of dollars it gained from a gambler linked to drug trafficking.

The U.S. Attorney's Office in Los Angeles said Tuesday that it agreed to end its criminal investigation and will not seek an indictment against the casino operator.

The probe found that Chinese-Mexican businessman Zhenli Ye Gon transferred more than $45 million to the Venetian casino between 2006 and 2007.

Ye Gon now faces drug-trafficking charges in Mexico.

Investigators concluded that Las Vegas Sands failed to comply with a federal law requiring casinos report suspicious financial transactions involving customers.

In a statement Tuesday, Las Vegas Sands noted its cooperation with the probe was recognized by the government.