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Thursday, October 12, 2017

CLG: 'Betting on the downfall': George Soros had a $42 million short open on MGM



 News Updates from CLG
12 October 2017
 
Previous edition: Terror in Las Vegas: People run for their lives as at least one gunman opens fire near Mandalay Bay
 
Special Las Vegas Shooting 'Oddities' Edition - compiled by LRP --An online copy of this edition can be found here: http://www.legitgov.org/Las-Vegas-Shooting-Oddities-Compiled-CLG-News.
 

'Betting on the downfall': George Soros had a $42 million short open on MGM | 10 Oct 2017 | On Tuesday, September 5th, 2017, the board of MGM Resorts International decided to approve a $1 billion share repurchase program. At 17.7 billion today, the program represented a significant portion of its current market cap. By the end of the week, MGM's CEO, James Murren, had coolly divested himself of 80% of the shares he owned in his company. The divestment came just days before the ex-dividend date on September 8th, 2017. The sales were originally disclosed in a document filed with the Securities and Exchange Commission (SEC). Murren had previously divested 57,269 shares on July 31st and August 9th, 2017. It's currently unclear why Murren chose to sell when he did...Mr. Murren and his fellow board members were not the only speculators who were bearish on MGM's prospects. Billionaire investor George Soros also bought $42 million worth of puts on the company, according to SEC filings from mid August. [Notes: MGM Resorts International is the owner of the Mandalay Bay Resort and Casino, the site of the October 1, 2017, shooting. See definitions of 'put option' (here) and 'Short (or Short Position)' (here). More info can be found here. --LRP]

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CLG News Editor-in-Chief: Lori Price. Copyright © 2017, Citizens for Legitimate Government ® All rights reserved.


Thursday, October 5, 2017

Stop Predatory Gambling: Las Vegas shooter Stephen Paddock was not a “professional gambler”



EXCERPT BELOW CLICK ON LINK TO VIEW ADDITIONAL INFORMATION!





Las Vegas shooter Stephen Paddock was not a “professional gambler”



The facts coming out of Las Vegas are becoming clearer every day that the Las Vegas shooter Stephen Paddock had a serious gambling addiction. But virtually no one has said it publicly. Read the latest New York Times reporting on his gambling behavior. It was the center of his life.
The powerful corporate gambling operators in Las Vegas have a lot to lose if Paddock is revealed as a gambling addict. No credible gambling addiction expert unaffiliated with gambling operators (and their funding) would describe him as a “responsible gambler.” ‘Responsible gambling’ is little more than a marketing slogan made up by commercialized gambling operators and their partners. Its intent is to place the spotlight on the citizen and shield their predatory and fraudulent business practices.
The mass media continues to use terms like “professional gambler” when describing Paddock. While he may have even said that about himself, he was not a professional gambler.
No professional gambler uses slot machines and video poker machines like Paddock didThe machines create the allusion of skill, but you’re playing against the house, which means you’re mathematically guaranteed to lose all of your money the longer you play them. Once you press the button on the machine, there is no skill involved. The computer inside the machine decides whether you lose or win.
The Times story has a concise description of how the machines work:
“There are no opponents. There is no bluffing or worrying about competitors’ hands. Five virtual cards are drawn from a 52-card virtual deck- instantly on the video screen- and players decide which ones to “hold” or keep, and which ones to exchange for new cards. Players calculate the possibilities remaining in the 47 other virtual cards.”
Paddock was playing hundreds of hands per hour (about one hand every six seconds) for many hours straight. Over and over again.
The business model of casinos is based on people like Paddock losing over and over again. While he may have won occasionally, it’s a statistical certainty that he lost the longer and more frequently he played.
While it’s uncommon for the millions of American citizens who’ve become addicted to electronic gambling machines to become mass shooters, it is very common for them to harm themselves and others close to them (often in the form of domestic violence.) 
http://www.stoppredatorygambling.org/las-vegas-shooter-stephen-paddock-was-not-a-professional-gambler/