Two casino-related court cases are offering further evidence of the maxim that the house always wins.
On Wednesday, a three-judge panel of the Michigan Court of Appeals upheld a lower court ruling that found MGM Resorts’ MGM Grand Detroit casino wasn’t liable for some $6m stolen from investors by would-be developer Gino Accettola, who is currently serving seven to 30 years in prison after being convicted of fraud in 2018.
Accettola (pictured) reportedly accepted “substantial sums of money” from a dozen investors as far back as 2014 for construction projects in Michigan and Florida. Instead, Accettola blew the borrowed millions playing blackjack at MGM’s Detroit casino, a fact the investors learned through Accettola’s admissions during his fraud trial.
The aggrieved investors sued MGM, saying it should have known something was up after the scale of Accettola’s gambling increased “precipitously” in 2014. As a high-roller, Accettola was allowed to wager at the casino using credit markers, a process that allowed MGM to perform background checks on their new VIP.