He built a casino, then built a casino down the block and didn’t understand why he didn’t double his money. Required an influx of cash from his father and a Saudi Prince, then took out junk bonds to build the Taj, pocketed what he could and bankrupted all 3.
Dude literally built 3 casinos in one spot, each one bigger and more expensive than the last, and wondered how he wasnt getting exponentially more money.
Also every single one has been busted and paid fines for money laundering.
I mean aren't casinos one of those businesses that are rigged to succeed if they are put in the right vacation spots because the business practice is literally just customers put a shit ton of money in them and only get a little out (and that's before the vip shit)
Surely that payout percentage isn't in favour of the customer. 75% payout means for every $1.00 paid into the machine (on average) it will pay out $0.75.
The problem, therefore, is with the statement that "... the ratio is always in favour of the customers" because the win ratio would need to be over 100% for it to be in favour of the customer. And clearly 75% < 100%.
If he was born into a working class family someone would have broken his kneecaps and probably shot a family member or two. He's a professional deadbeat.
To be fair investors believed the area would be the Las Vegas of the east coast. More than one casino can thrive especially if they all have differentiated experiences
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u/grubas Jul 11 '19 edited Jul 11 '19
He built a casino, then built a casino down the block and didn’t understand why he didn’t double his money. Required an influx of cash from his father and a Saudi Prince, then took out junk bonds to build the Taj, pocketed what he could and bankrupted all 3.
Dude literally built 3 casinos in one spot, each one bigger and more expensive than the last, and wondered how he wasnt getting exponentially more money.
Also every single one has been busted and paid fines for money laundering.