..

Vegas Shooter: Over a Hundred Thousand in Gambling Transactions the Last Few Weeks

Written by:
Guest
Published on:
Oct/03/2017

US officials are reporting that the a man who opened fire on the crowd below from his 32nd floor hotel room had approximately a dozen gambling transactions to the tune of $10,000 over the past few weeks.

Stephen Paddock is responsible for the killing of nearly 60 people and the injuring of over 500 more.  Authorities say that the Nevada resident broke out windows from his room in Las Vegas’ Mandalay Hotel, massacring those attending a country music festival in an open air space below.  It is the deadliest mass shooting in modern day US history.

While a motive is yet to be determined, Paddock’s gambling activity is being highly scrutinized.

From ABC News:

While some of the reports centered around "suspicious activity," most were "currency transaction reports," which casinos are required to file with the Treasury Department's Financial Crimes Enforcement Network when a person withdraws or deposits more than $10,000 in cash.

The number of reports prompted by Paddock's activities reflects -- at the very least -- how routine it was for him to gamble with large sums of money.

In one case, Paddock recently won $40,000 on a slot machine, his brother, Eric Paddock, told The Associated Press.

One law enforcement official noted "currency transaction reports" are "not necessarily suspicious," especially "if you’re a high roller." As for "suspicious activity reports," 13,736 were filed last year with the Financial Crimes Enforcement Network, according to Treasury Department statistics.

Paddock had also told at least one neighbor he gambled heavily online, once winning $20,000.

- Gilbert Horowitz, Gambling911.com

Gambling News

Sports Betting Has Been Big Business for States

Sports Betting Has Been Big Business for States

The numbers don't lie.  Since a handful of states legalized sports betting over the past two years, the take has been staggering.

"Tony Meatballs" and Others Indicted for Sports Betting, Heroin Distribution, More

"Tony Meatballs" and Others Indicted for Sports Betting, Heroin Distribution, More

More than a dozen alleged mobsters have been charged as part of a sweeping federal indictment unsealed on Monday including one 72-year-old named Anthony “Tony Meatballs’’ Gifoli.

Atlantic City Casino Earnings Fall 37% Amid Pandemic Limits

Atlantic City Casino Earnings Fall 37% Amid Pandemic Limits

Atlantic City’s casinos saw their collective profits fall by more than 37% in the third quarter of this year as they reopened with capacity limits and costly measures designed to stem the coronavirus pandemic.

The Rise of Virtual Esports Betting in 2020

The Rise of Virtual Esports Betting in 2020

At the beginning of 2020, the sports betting industry found itself in a position they’ve never experienced before. Out of a sudden, all sports events were cancelled, without any predicatble future insight.

GLI Insights on How to Navigate Future of Gaming at Betting on Sports America

Gaming Laboratories International (GLI®) will host a roundtable at next month’s Betting on Sports America - Digital that will focus on the industry’s evolving product and service offerings. 

Syndicate