A justice of the peace found Wednesday there was not enough evidence to show the guards feared for their lives from threats by Mayweather, the Las Vegas Sun reported.
The charges stemmed from an altercation in October 2010 when Mayweather left some cars parked on the street outside his home in violation of association rules. In their court testimony, the guards, who were armed and sitting in their truck, said after they wrote tickets for the cars Mayweather cursed at them and threatened them, in addition to slamming a ticket down on the truck.
The guards did not file charges until a week after the incident. Mayweather's lawyers suggested they had been pressured to pursue the case.
The Southern Highlands homeowners association filed a civil action in January seeking $10,000 in damages.
Mayweather has also been charged with coercion, grand robbery and larceny, all felonies, and misdemeanor harassment and domestic assault for allegedly assaulting his girlfriend in September 2010.