The parent company of the Bethlehem Sands casino has agreed to a $47 million settlement for its ties to a gambler linked to drug trafficking.

Officials say the Las Vegas Sand Corporation failed to flag millions of dollars in money transfers made by the drug trafficker.

In return for paying the $47 million penalty the US Attorney's Office will not seek an indictment against the casino operator.

Officials say the investigation centered on a Chinese-Mexican businessman who lost more than $125 million at multiple casinos between 2004 and 2007.

He's wanted in Mexico on drug-trafficking charges.