Jim, thanks for your response and explanation of the tax consequences of forgiven debt. I was not aware that Uncle Sugar has that lever. The Eagles' owner you spoke of is Leonard Tose. Mr. Tose lost an empire because of his habit. I think he's a men's room attendant at the casino he owes all the money to.

As Gene stated, casinos in A.C. DO share credit information to prevent just what Mr. Sia did in Las Vegas. It might be a State requirement that they check with other casinos before authorizing large credit lines. In my experience as Pit Manager in A.C. I remember countless times credit execs telling me that there would be a delay on extensions of credit because they were going to check with all of the other casinos in town to see what the player owed and then base their decision on that information. Best regards, Chuck T.