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He lost it at the casino

Anonymous
Posted by Anonymous
  • 10 Replies
There is this food store/ restaurant that has been in our city for the longest time and about 10 years ago was sold and now it's closing for good.

The owner was on the news because it is a big deal and said competition is killing the business, the road where the store is at was basically closed for a year and the property is too expensive and can't afford it anymore.

Well, someone related to him told dh the real reason is because the owner owes 1MM to a big casino.

I know is an addiction but I can deal with like 39 minutes and $20 and I need to leave, I don't enjoy casinos.
Posted by Anonymous on Sep. 22, 2017 at 11:06 PM
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Replies (1-10):
Anonymous
by Anonymous 2 on Sep. 22, 2017 at 11:10 PM
Okay
Anonymous
by Anonymous 3 on Sep. 22, 2017 at 11:12 PM
The owner of our favorite little restaurant lost it in a poker game.

It's a parking garage now. SMH
kgsharber
by Platinum Member on Sep. 22, 2017 at 11:14 PM
How can you be indebted to a casino? Everything is up front. You're influenced too easily.
LilysMama719
by Emmy on Sep. 22, 2017 at 11:15 PM
How do you owe a casino money?
Anonymous
by Anonymous 1 - Original Poster on Sep. 22, 2017 at 11:16 PM
I guess when you put your business as collateral it works.

Many moons ago sometimes we didn't get paid on time because the owner had lost all our salary
Money at the casino

Quoting kgsharber: How can you be indebted to a casino? Everything is up front. You're influenced too easily.
Anonymous
by Anonymous 4 on Sep. 22, 2017 at 11:16 PM
It isn't all up front. You can write checks to be cashed, use a credit card for advances and have a running credit account at a casino. Especially for those who they know spend lots of money.

Quoting kgsharber: How can you be indebted to a casino? Everything is up front. You're influenced too easily.
kgsharber
by Platinum Member on Sep. 22, 2017 at 11:17 PM
Good grief. How small is this town?

Quoting Anonymous 1: I guess when you put your business as collateral it works.

Many moons ago sometimes we didn't get paid on time because the owner had lost all our salary
Money at the casino

Quoting kgsharber: How can you be indebted to a casino? Everything is up front. You're influenced too easily.
Anonymous
by Anonymous 5 on Sep. 22, 2017 at 11:17 PM

No one knows the reason that the food store/restaurant is closing. I hope if the owner owes one million to a big casino that he is able to pay it back soon.

Not_A_Native
by Ruby Member on Sep. 22, 2017 at 11:21 PM

Big gamblers can get credit at casinos - even the big ones.  My brother and sister in law used to work at a large casino in Vegas.  She was in charge of dealing with big rollers from Asia.  Some of them would have million dollar credit advances.  If you're gambling $50K a night (and yes, people do), they are willing to provide credit, food, rooms, private planes, and a host of other stuff.

Anonymous
by Anonymous 1 - Original Poster on Sep. 22, 2017 at 11:21 PM
Lol. 2 separate issues and both very big cities.

Quoting kgsharber: Good grief. How small is this town?

Quoting Anonymous 1: I guess when you put your business as collateral it works.

Many moons ago sometimes we didn't get paid on time because the owner had lost all our salary
Money at the casino

Quoting kgsharber: How can you be indebted to a casino? Everything is up front. You're influenced too easily.
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