Last week the New Jersey casino control commission approved an unprecedented penalty for Caesars' irresponsible behavior, ordering the casino to close its doors Nov. 30, the Saturday after Thanksgiving, a big day for gambling. Caesars stands to forfeit some $800,000 in revenue. The commission also fined six Caesars employees and ordered the gaming establishment to pay its staff for the lost day of work, including projected tips.
Caesars Hotel-Casino in Atlantic City hit the jackpot when Brian Molony became a regular customer. In 1981 and '82, the assistant bank manager from Toronto gambled away more than $7 million at its tables. Molony bet as much as $75,000 a hand at baccarat, and in two very bad days in April 1982, he lost $2 million. To keep this high roller hooked, Caesars plied him with complimentary hotel accommodations and a private jet shuttle between Toronto and Atlantic City, as well as an $8,500 Rolex watch. The casino discovered belatedly that he had financed his bets by embezzling $10.2 million from his employer, the Canadian Imperial Bank of Commerce. Arrested in Toronto in 1982, Molony is now serving a six-year prison term.