High Rollers burning Las Vegas Casinos
It’s common practice for casinos to issue $1 million markers or more to high rollers. Unfortunately, some casinos have been getting burned by high rollers who fail to repay their gambling debts.
Andrew Pham is one of the gamblers who has stiffed casinos in recent years after he accumulated $1 million in gambling debt at several different casinos. Planet Hollywood, the Golden Nugget, the Mirage, the Venetian, Treasure Island and the Green Valley Ranch Resort are all owed money by Pham, who plead guilty to failing to repay his casino markers. Pham’s punishment was a court order to repay the $1 million, which he hasn’t even started to do months after the ruling.
Pham isn’t the only one who has bet money without sufficient funds to back it up because there are dozens of other Las Vegas gamblers who’ve been taken to court over their failure to pay up on million-dollar markers. One unidentified person was taken to court and ordered to pay the casino back $7,000 every month until 2020; so far, they haven’t made good on any of the payments, and they’re still gambling.
Many casinos have been complaining in recent years that the courts aren’t equipped to deal with the growing problem of high rollers who spend too much gambling. Most courts prefer to give gamblers decades to repay their debts, and they don’t have enough time to deal with all of the cases of high rollers who aren’t paying up. In short, cases involving casino markers aren’t looked at with the same seriousness as other cases. Sometimes people serve jail time over their unpaid markers, but others are allowed to keep spending money on lawyers and defense efforts while avoiding the payments.
Another hurdle facing casinos when it comes to high rollers and unpaid debts are the foreign gamblers. In regards to this matter, Las Vegas Hilton lawyer Lou Dorn said, “These defendants have no motivation to settle, particularly when they’re from a foreign country where civil prosecution and finding assets is very difficult.”
With everything that Las Vegas casinos have against them as far as the markers go, it doesn’t look like the unpaid bills are coming in anytime soon.