My thought is that anyone who has been to Las Vegas needs to thank Frank Balistrieri, for without his efforts to bring millions of dollars from the Central State Teamster’s Pension Fund to invest, yes invest for my understanding is that the fund’s investments were profitable in returning a profit to the Pension Fund during the time frame of Mr. Ballistrieri , this investment allowed Casino’s such as The Fremont and The Stardust to exist.
Yes we know that the Mob was in Vegas long before Frank came in, A shame he has not gotten the credit I believe he is due with the creation of the Vegas, we know today.
Interesting to note that in 1976 the fund had about 249. Million investing in Casinos, getting interest on those loans, in the years to come after the Skim was discovered, the Mob kicked out.
The years of Junk Bonds used to finance deals in Vegas that would not be the case, for investors being taken for a ride.
To think that the Mob would help retired Americans with good investments is well, crazy, but perhaps true