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Friday, September 30, 2016

Oakland Raiders New NFL Stadium Update - Las Vegas Sands Gamblers, Shills, And Money-Laundering

Oakland Raiders New NFL Stadium Update - Las Vegas Sands Gamblers, Shills, And Money-Laundering - Video

Oakland Raiders New NFL Stadium Update: On Las Vegas Sands Gamblers, Shills, And Money-Laundering Las Vegas Sands, the casino partner in the Oakland Raiders effort to receive approvals to build a stadium in Las Vegas, is the focus of a blockbuster Reuters article released today, Friday, September 30th. The article, called “Shill Game” and written by By Joel Schectman and Koh Gui Qing, not only details exactly how Las Vegas Sands' hotels The Venetian and The Palazzo provide an environment for high-rolling Chinese gamblers to pass money without a paper trail, but also describes the work of “shills”. “Shills” are women who, with the cooperation of Las Vegas Sands employees, are allowed to take out millions of dollars in casino credit in their names and then give the chips to the real gamblers they work for. This allows the real bettors to gamble at the hotels without detection. In exchange, the shills are allowed to keep a percentage of the casino money they are loaned. The Reuters reporters report reads: “The attorneys for the women, Jeffrey Setness of the law firm Fabian VanCott and Kevin Rosenberg of Lowenstein & Weatherwax LLP, contend the Sands may have violated federal anti-money laundering rules prohibiting casinos from helping players keep their names off the books.” This marks the newest, and most detailed account, of allegations of money-laundering at Las Vegas Sands casinos. While the Reuters report names some of the actual gamblers, it does not explain exactly what their businesses do. But its well known that one high-rolling gambler, Zhenli Ye Gon, was said to be an alleged drug trafficker who lost $84 million at The Venetian. Las Vegas Sands settled that case for $47 million in 2013. Moreover, the investigation, case, and settlement came after the discovery of $207 million in cash in his home during a raid. Las Vegas Sands said that it should have recognized Zhenli Ye Gon's gambling activities, but the truth is other bettors are still using the same shill-based activity Gon benefitted from. Las Vegas Sands has not stopped it, and given the estimated $1.3 billion baccarat, the high-roller game of choice, has generated in Las Vegas over the past 10 years, it's not likely to try and stop it anytime soon, absent draconian legal and government action. What does all of this have to do with the Raiders quest for a Las Vegas NFL stadium? Everything. NFL Commissioner Roger Goodell is on record saying that he's trying to “wrap” his head around the idea of a the NFL in a city ran by the casino industry. That's a kind way of saying he's concerned about the very scenario the Reuters story reveals. And given the revelation, it's appropriate to ask this question: Given that Sheldon Adelson, the CEO of Las Vegas Sands, made the majority of his $29 billion in Macao gaming, and via Chinese high-rollers like Zhenli Ye Gon, and given that the practice of hiding the identify of these same gamblers is still active in Las Vegas Sands hotel casinos, how much of that alleged laundered money has been used in the Raiders stadium planning to date? We have a situation where, because of the Oakland Raiders association with Las Vegas Sands, a favorable decision to build a stadium in Sin City could place the NFL in the legal crosshairs of the Federal Government in the future – perhaps sooner rather than later. Reuters: http://ift.tt/2dGMw90


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