You must be a registered user with confirmed email address to view this content.
Register or Login

Interesting story.

"In the post 9/11 era, with cash transactions under tighter control, Las Vegas casinos keep the money flowing in part by luring wealthy Chinese gamblers. But a case involving the Sands casino shows how ‘shill’ players and back room loans are often part of the game."

 

"the Sands may have violated federal anti-money laundering rules prohibiting casinos from helping players keep their names off the books."
Certainly appears that way.
I wonder what Nate would say?

 

Great article. I know why but would have loved to hear the tortured logic of a Sands exec if asked why the Sands loaned these housekeepers millions of dollars. And thought it was interesting the idea that Asians make up 75% of the whales in LV.

 

The charges have been dropped. And now the Gaming Control Board is looking into it.

 

I saw they want it to go before Grand Jury rather than a judge? Or did I read that wrong? How would a housekeeper get the credit to borrow millions of dollars, without it being something shady behind it? I couldn't borrow that on my salary!

 

Wasn't this inevitable? You're loaning money to people you know can't pay if their backer goes back to China and won't or can't pay. The debt wouldn't even be enforceable in China if there was any evidence the backer owed it, which there isn't. How are the Chinese guys paying up? None of this really makes sense to me.

 

You must be a registered user with confirmed email address to view this content.
Register or Login

 

Wonder How long before the feds look into this, if funds were wired in? Very interesting on a number of fronts.

 

There is obviously an enormous missing piece to the story. I believe the narrative that they were using shills. Sands is famous for doing whatever is necessary to get cash in the door. However, suing the maids that they knew were shills and having them criminally charged - thus exposing Sands' own illegal activities - just doesn't make sense. It's like a drug dealer calling the cops because a buyer shorted them some money.

I'm sure there is an explanation, but I doubt we'll ever hear the whole story.