Big casino bust in Biloxi

In a Mississippi bribery scandal, the crime in question took place—how fittingly—in a lavatory. Four men fessed up to bribing Department of Corrections Commissioner Christopher Epps with casino chips in return for such concessions as inmate phone services, unwittingly highlighting the corruption that runs rampant in the American penal system. After Epps was caught and pleaded guilty (he’s presently doing time), the quartet of malefactors moved on to Kemp County Sheriff James Moore.

Little did they know that Moore was the principal actor in an FBI sting. Busted! Although casinos are a popular vehicle for laundering money, the Biloxi casino that was the favored locale of this case has been allowed to retain anonymity.

* After reading a lengthy think piece on how Baton Rouge casinos are sucking wind, one jaded former patron has a suggestion: Loosen the dang slots! Says Aristide Dixon Sr. “it’s because they don’t let anyone hardly win, and people are tired of losing their hard-earned money.” Casino marketing execs ought to listen but I somehow doubt they will.

* Skepticism seems to be growing about the pie-in-the-sky Japan market. The Motley Fool points out that operators will have 10 years in which to recoup $10 billion (likely greater) investments. That means doing a billion in cash flow every year, in an unproven market—although The Fool thinks it can be done. Fitch Ratings estimates there will be $10 billion in annual revenue to go around for all three operators. MGM Resorts International is tipped as the favorite for Osaka, followed by Galaxy Entertainment and Genting Singapore. As for Tokyo and Yokohama “there’s less of a frontrunner” although we rate Las Vegas Sands highly. Still, writes Travis Hoium, “There should be a little concern that the cost won’t be worth the investment, especially if a multidecade concession doesn’t come with the price of admission.”