Vegas hurting??
 

I have never seen so many news stories about vegas pressing charges on people for having markers out, Reszco, Chicago's resident politician machine owes 800k now to three casinos.....Is this a product of Vegas being down on the year and calling on their loans or just a bunch of people trying to break a bad run?

It's kinda bad.

The Charles Barkley effect.

just a slight clarification..they aren't just calling in markers from that sleazeball, he bounced $400K in checks to Ballys and Venetian

It was on Channel 2 news. they didn't say that. Pacman and Barkley didn't bounce the checks, they just didn't pay them.....I just have never seen them go to the media like they have recently.....

http://www.dailyherald.com/story/?id=199478&src=109

The former top fundraiser to Gov. Rod Blagojevich now faces a Las Vegas arrest warrant accusing him of bouncing $450,000 in checks for gambling debt at Caesars Palace and Bally's. An additional $331,000 in gambling debt at the Bellagio also came to light Thursday.



This is where the bounced reference came from, although I had the casinos wrong

Bouncing a check and not paying a marker are two routes ending in the same place I would guess. I don't have any idea if there is a difference legally, but that's not the issue. What are they going to argue about -- "intent"??? BS.

Aside from that, "hurting" is not the reason they are stepping up their efforts to collect.

Eric

Las Vegas Sands, Wynn and MGM are all getting destroyed by the economy. Until the economy gets out of the toilet, those stocks are doomed.

When you sign a marker, that marker has your name, the bank name, and your bank account number on it. It is legally considered a check. If you look at a marker, it looks practically like a normal check and it legally is a check. The casino can deposit it if they want to in the exact same way that they would deposit a normal check. A casino won't normally try to depoit the marker(check) unless you tell them to or unless you refuse to pay them. If you refuse to pay them, they will deposit the marker. If you don't have the money in your bank account, then they can have you arrested for writing a bad check.

To answer Scav's question, what is going on right now is nothing new. Vegas casinos have been having people arrested for years for not paying their debts. They only do this as a last resort. If you are willing to work with them, they won't have you arrested. They will let you make a payment plan and will often times even give you a discount on what you owe. It's only if you refuse to pay them, that they will have you arrested.

By the way, it wasn't until some time in the early to mid 1980s that the law changed and gambling debts became legally enforceable. Back in the 1970s, if you refused to pay a casino, they had no legal recourse against you.

I was in Vegas last weekend...I did my part to try and help them out of the hole they are in....:D

Everybodys stocks are getting hurt, but when the economy goes bad,,,,,,Drugs,,,,,,Prositution,,,,,,and Gambling seem to do just fine.

who are prostitution and gambling?

Friends of my limited education.