A Canadian real estate businessman has been indicted on charges he failed to pay back $12.9 million in gambling markers to two Las Vegas casinos. Involved are The Venetian resort ($7.9 million) and Green Valley Ranch Resort ($5 million), according to Clark County prosecutors.
Reportedly, the case involving Semion Kronenfeld has languished in Las Vegas Justice Court since 2008.
The Associated Press reported a story in the Toronto Star says Kronenfeld filed for bankruptcy in 2009, blaming the global recession. He also blamed his more than $21 million gambling debts at casinos across North America for their constant incentives to gamble.
Ray Poirier is the longtime executive editor at GamingToday.
Contact Ray at [email protected].