You’re missing the point: operating a casino wasn’t his business, money laundering was. He didn’t want the long-term responsibility of a casino, with its overhead and regulations and taxes and employees and liquor licenses, yadda-yadda. Besides, a casino operates on only about a 1% profit, and requires a massive volume of gamblers to make big money, as well as an intelligent focused operator who can keep a handle on all the expenses, and bring that 1% profit home.
So sure, it’s a viable business, but that all sounds like real work to a dummy like him. He just wanted a vehicle to launder massive amounts of Russian mobster cash, and a casino is the perfect cash business to run it through.
Destroying viable businesses for profit has always been a business model. It’s how Mitt Romney and others made entire fortunes. Look at Toys R Us. It was a successful profitable business until it was bought and systematically stripped of its profitable assets. Some people make money by operating businesses, and others are simply predators and parasites.
Just want to say that even if the basic casino has low profit margin, it gives nice foundation for other revenue streams. Lodging, food, drink, merch, shows, tournaments, conferences, events etc.
You’re missing the point: operating a casino wasn’t his business, money laundering was. He didn’t want the long-term responsibility of a casino, with its overhead and regulations and taxes and employees and liquor licenses, yadda-yadda. Besides, a casino operates on only about a 1% profit, and requires a massive volume of gamblers to make big money, as well as an intelligent focused operator who can keep a handle on all the expenses, and bring that 1% profit home.
So sure, it’s a viable business, but that all sounds like real work to a dummy like him. He just wanted a vehicle to launder massive amounts of Russian mobster cash, and a casino is the perfect cash business to run it through.
Destroying viable businesses for profit has always been a business model. It’s how Mitt Romney and others made entire fortunes. Look at Toys R Us. It was a successful profitable business until it was bought and systematically stripped of its profitable assets. Some people make money by operating businesses, and others are simply predators and parasites.
Just want to say that even if the basic casino has low profit margin, it gives nice foundation for other revenue streams. Lodging, food, drink, merch, shows, tournaments, conferences, events etc.