LAS VEGAS DEBT COLLECTIONS - Posted by KatA 

In the early days of Las Vegas, collecting gambling debts was something the casinos took care of themselves. No one likes to go into specifics on exactly how it was done, but we’ve all heard the stories. Then in 1983 the state of Nevada made gambling debts collectable under state law. This removed a large amount of the criminal element from Vegas and drastically altered casino’s collections departments. Assistant Clark County DA Christopher Lalli says that now “A gaming debt is treated like any other bad check debt.” If it remains unpaid it’s treated like a criminal offense under Nevada state law. These days if you fail to pay up in Vegas you aren’t likely to be driven out to the desert and left there. You’re more likely to receive a phone call from law enforcement or a collections agency. Modern day CEO’s of Las Vegas casinos have updated their debt collection methods but make no mistake, they’re just as effective. Las Vegas debts are never let slide, especially in this economy. A prime example is NBA star Antoine Walker. He’s been accused of writing $1 million in bad checks to Caesars Palace, Red Rock Resort and Planet Hollywood. He is currently under investigation by DA Lalli. If found guilty, Walker will be charged, and could receive a criminal sentence in addition to having to pay back his debt. Lalli says that Walker’s debt is just a small percentage of the overall amount owed to Vegas casinos. Gaming Analyst David Schwartz reports that “In 2008 all Nevada casinos had $132 million in bad debts they wrote off as ‘bad debt expense.” Schwartz reports that this figure works out to be about 1% of their yearly income. Schwartz reports that with casinos now being run by corporations, outstanding debts can effect a company’s bottom line. With the economy in its current state, casinos can’t afford not to collect those debts. While debts were occasionally let slide in the past, Schwartz reports that this is not longer the case. Collection procedures may be less severe these days, but they’re also less forgiving. If you wrack up a debt in Vegas, you’ll be paying it off one way or another. The flip side is that Las Vegas is now a much safer environment. And if you do win, you’re also guaranteed that you’ll get your payout. So enjoy yourself in Vegas, but as they always say, don’t bet what you can’t loose.