1383
No, no, please! ANYTHING but effective mass transit! (slrpnk.net)
submitted 1 year ago by to c/memes@slrpnk.net
152 comments fedilink hide all child comments
 
you are viewing a single comment's thread
view the rest of the comments
[–] 4 points 1 year ago (10 children)

How can you bankrupt a casino? How do you find against math itself and win?

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 10 child comments
    •
  • [–] 9 points 1 year ago (5 children)

    Two casinos.

    And the answer to your question is money laundering.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 5 child comments
    •
  • [–] 10 points 1 year ago (4 children)

    If money laundering bankrupted casinos, then Las Vegas would be just another ghost town in the desert. It takes a special level of stupid to bankrupt a casino. Especially if you are using it to launder money.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 4 child comments
    •
  • [–] 4 points 1 year ago (3 children)

    It was actually 4 casinos.

    https://news.temple.edu/news/2016-10-25/bankruptcy-expert-studies-trump-casinos

    Those Las Vegas casinos you are referring to are in compliance with money laundering laws. Trump's were not.

    https://www.fincen.gov/news/news-releases/fincen-fines-trump-taj-mahal-casino-resort-10-million-significant-and-long

    If you're not taking in enough to cover the amount of money laundering you're doing, you'll end up with a loss on the books.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 3 child comments
    •
  • [–] 1 point 1 year ago (2 children)

    Ummm, the casinos in Vegas were very much not in compliance with much of anything for decades...https://themobmuseum.org/exhibits/open-city/#%3A%7E%3Atext=In+the+1940s+and+%2750s%2CMob+syndicate+could+invest+here.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •
  • [–] 1 point 1 year ago (1 child)

    I'm sorry, I thought it was pretty obvious that I was making a comparison that was contemporary with FinCens actions against the Trump crime syndicate. Not 70+ years ago.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 1 child comment
    •
  • [–] 1 point 1 year ago

    I get that, but my point was that some of the most corrupt, greedy, and murderous people in the history of the US managed to build an entire city out of nothing, in the middle of the desert, well away from anywhere. In a place that no same person would ever want to be for any reason, and they turned it into a destination for people from around the globe.
    It wasn't greed, corruption, or money laundering that bankrupted his casinos. It was unmitigated, weapons grade, stupidity and incompetence.

  • permalink
  • fedilink
  • source
  • parent
  • [–] 6 points 1 year ago (2 children)

    How can you bankrupt a casino?

    All of Atlantic City basically collapsed on itself as Vegas siphoned away the high rollers.

    Trump thought he could buy into an old casino and revitalize it. But he's Trump, so he did it all wrong and just got to ride the crash all the way into the dirt.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •
  • [–] 3 points 1 year ago (1 child)

    Trump knew he wasn't going to revitalize anything. The whole thing was a money laundering scam for him.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 1 child comment
    •
  • [–] 3 points 1 year ago*

    Well, he thought running a casino was an easy way to print money. He threw a ton of investment at pastiche, bilked his builders, shortchanged his staff, and created a very glitzy slum.

    The Adelsons and the Wynns have been laundering money in the same way, but none of their casinos go belly up. They're just as evil but far more competent.

  • permalink
  • fedilink
  • source
  • parent