Las Vegas Sun

March 29, 2024

Board files complaint against Horseshoe

The State Gaming Control Board today filed a complaint against Binion's Horseshoe Club for failing to stop a key figure in an illegal bookmaking probe from withdrawing $54,961 from a telephone betting account agents wanted to freeze.

The 16-page complaint seeks to fine the Horseshoe and place an agent at its sports book for six months to monitor whether it's complying with gaming regulations.

The complaint stems from an investigation launched in August after agents believed Horseshoe employees had tipped off Las Vegas oddsmaker Jack Franzi that the board wanted to freeze the money contained in the phone account of his son, Zack Franzi.

Jack Franzi, a Barbary Coast hotel-casino oddsmaker, emptied his son's account "upon the express authorization of (Horseshoe President) Jack Binion," the complaint charged.

Franzi was allowed to take the money from the Horseshoe even though an agent had telephoned earlier looking to put a hold on the account.

The complaint alleges Horseshoe officials also weren't "completely forthcoming" with an agent who visited the casino that day.

The incident occurred Aug. 9, 1995, the same day agents raided other locations, including Franzi's home, and seized $500,000 as part of a New York-based probe into an international illegal bookmaking ring, dubbed the "Kosher Boys" by law enforcement authorities.

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