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It isn’t often that a big name casino comes under investigation for money laundering these days. That was not the case years ago, but today big casinos steer away from that type of action. Even so, Caesars Palace is now said to be under federal investigation that it allegedly laundered money. This information was reported in a filing to the Securities and Exchange Commission.

On Oct 11, the company says that it received a letter that came from the US Department of Treasury, Financial Crimes Enforcement Network. In this letter, it was said that Desert Palace Inc., which is the subsidiary that runs and operates Caesars Palace, would be investigated for alleged violations that fall under the Bank Secrecy Act. It said that this investigation would determine what, if any, further legal action would be taken against Caesars Palace. A spokesperson for the company did not have a comment to make. But, with the news, Caesars stock fell nearly 5 percent, hitting $17.81 on the New York Stock Exchange.

In the filing that Caesars sent to the SEC, it said that another grand jury action would be ongoing. This grand jury investigation is separate from the other allegation. The company has said, in its written filing to the SEC, that it plans to cooperate with authorities in both of these matters. The SEC filing went on to say: “Based on proceedings to date, the registrant (Caesars) is currently unable to determine the probability of the outcome of these matters or the range of reasonably possible loss, if any.”

The SEC filing went on to note that in recent years, many of the government’s authorities have been placing more emphasis on money laundering through new procedures and policies and procedures, many of which seem to be concentrating on the gaming and casino industries. It should be noted that some of these investigations are coming up with results especially as it may pertain to Russian mob activity within the gaming industry.

It was also reported that this money-laundering allegation had been reported within the same filing (to the SEC) that had disclosed that Caesars was going to pull out its bid for developing a new casino at the Suffolk Downs racetrack which is close to Boston. Caesars was a minority partner in that deal. No further details were forthcoming at this time as all of this news went to press and went public. But, there was more bad news as well as another report came to surface that may lead to many more problems for Caesars in the near future.

It was also reported that Caesars has now received a report that came from the Massachusetts Gaming Commission. In this report the commission said that it was questioning the Caesars suitability due to its relationship with Gansevoort Hotel. It should be noted, however, that Caesars severed its ties with the Gansevoort Hotel group. This group has been alleged to having some ties with mobsters in Russia. The group has also pulled its bid on the proposed Massachusetts casino project.

Caesars Palace has announced a rather large change in policy. After years of marketing the fact that they were not going tocharge any resort fees, the company announced that they would begin charging resort fees now. They will be adding fees anywhere from $10-$25 starting on 1 March, which is going to cover different charges for amenities, Wi-Fi, the fitness centers that they offer, and a variety of other amenities. The company currently operates a total of nine hotels in the Las Vegas area, including some of the strips biggest names. According to the company, the change was actually something that guests ask for.

The idea was that the company would not charge resort fees, and instead was or goers would have to pay a fee in order to gain access to different amenities, in order to help the company pay for them. Now, everyone will be splitting the cost of these amenities, instead of having to pay for them one by one. The resort fee with something that was a good marketing ploy for the company, but did not work on a practical level when you had to ask your guests to pay additional money in order to gain access to some features that make your resort a popular choice.

A large majority of visitors to the Las Vegas area are not going to think about the resort fee when they are making a decision about whether or not to stay at a given hotel. This fact is one of the main facts of the company to change their policy. After years of using the no resort fees as a marketing ploy, the company decided that the headache that was caused by having to pay for multiple amenities that they offer, was far more detrimental to the company than simply charging additional fees in order to pay for those amenities. Only 30% of those who conducted a recent survey stated that they valued the amenities enough to pay for them separately, if the fees were waived.

The resort fee has become a vital addition for many businesses, and the amount earned is quite high for many different establishments throughout Las Vegas. At some, the fees are able to create revenues that nearly double the cost of the amenities. When the policy was originally launched, fax like that were disclosed to show just that they were actually receiving a much better deal than they had previously considered. However, it is clear that guests do not look at the resort fees, and instead are much more interested in being able to have full access to the resort that they pay for.

The company was not the first major company in Las Vegas to begin charging resort fees. That honor belongs to Station Casinos who first started charging resort fees in 2004. Since that time, many more resorts and hotels have started charging resort fees, as a way to increase their revenue and pay for their amenities. It has become standard throughout most of Las Vegas, and this is likely the reason why Caesars found that their gas were not as open to the idea of having to pay for the amenities separately.