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.
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.
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.
Two casinos.
And the answer to your question is money laundering.
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.
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.
Ummm, the casinos in Vegas were very much not in compliance with much of anything for decades…https://themobmuseum.org/exhibits/open-city/#%3A~%3Atext=In+the+1940s+and+'50s%2CMob+syndicate+could+invest+here.
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.
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.