Thanks for that explanation for what was going on in Vegas. I knew something was up related to Laundering, because it appeared to be more then just a gambling addiction. For the life of me I could not figure out the specifics of ‘why’ it would be done. I was assuming that somehow the Casino itself was involved, but as you pointed out, perhaps not. The Casino was just the washing machine. The terrible gambler was just the cover so the feds would not be tipped off by the casino. Obviously the gambler did not loose everything. Cost of doing business. To wash $4 million it costs perhaps $1 to $2 million of show gambling losses.
Casinos are VERY tightly regulated---all casinos have gov’t regulators on-staff at all times. Of course, the govt is there to make sure casinos are not skimming off profits without paying taxes on it---the gov’t just wants its share.
Now there are cases where individuals have wired (or tried to wire) large sums of money to casinos. The casinos refuse the monies when they suspect it came from questionable sources…………like from government officials looting taxpayers’ assets for gambling.
Casino managers are very, very smart--they can smell a rat a mile away. Course, they also make their living off these rats.
That gambler you witnessed losing his shirt so ostentatiously was the front man for drug money laundering---guy had no cash worries---there was plenty more where that came from.