Jordan’s Sands casino will be closed for the first time in six years, ending a nine-year streak of the Las Vegas-based company offering online gambling.
The decision comes less than a week after casino officials agreed to a $50 million settlement to resolve allegations that Jordan’s had over-pursued customer funds.
Jordan’s said it will pay $5 million to the State of Florida for the settlement and will also make a $1 million payment to the state for each of the years of violations.
The company will also forfeit $150,000 in bonuses paid to casino employees.
The casino, one of the world’s largest, had faced $100 million in state penalties and fines for violations dating back to 2012.
In November, the state announced a $4.2 million fine for its gambling violations.
The company has been a major draw for U.S. visitors and casino patrons, and the resort has been an economic boon for Florida and the tourism industry in the U.K.
The Wynn has had a long history of success.
The resort was built in 1881 and opened in 1952.
The casino has been home to celebrities like James Bond, Mark Wahlberg, and Kim Kardashian.
Jordan was acquired by the Walt Disney Co. in 2009 for $3.9 billion.
The deal has been marred by lawsuits, including a class action lawsuit that sought to force Disney to pay billions of dollars in fines and penalties.
Jordan said Thursday it was “surprised and disappointed” to be closing its casino and that it had “made a mistake.”
It said it would continue to operate its online gambling business.
“Jordan’s Sands Casino is a long-time member of the Wynn family of casinos, which is proud of its long history as one of Florida’s leading gambling destinations and its strong and loyal customer base,” the company said in a statement.
“We have made a mistake in closing our gaming business, and we have taken appropriate action to address it.”
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