‘Crazy Eddie’ Nephew Loses $30M Legal Fight Vs BetMGM

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Posted on: February 3, 2024, 06:55h. 

Last updated on: February 5, 2024, 06:52h.

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A New York man who sued BetMGM successful a bid to recoup astir $29 cardinal he mislaid gambling connected nan level saw his declare dismissed by a New Jersey national judge Wednesday.

Sam A. Antar, BetMGM, Crazy EddieSam A. Antar’s gambling connected BetMGM exceeded $24 cardinal successful 2019 alone, including much than $5 cardinal successful a 16-day period. A national judge ruled this week that casinos owed nary communal rule work of attraction to extremity problem gamblers from gambling. (Image: NYPD)

Sam A. Antar accused BetMGM, a associated task betwixt MGM Resorts and Entain, of violating nan New Jersey Consumer Fraud Act (CFA), negligence, and cruel enrichment for offering continued him “inducements to gamble” successful nan shape of casino bonuses. This, contempt knowing he was a problem gambler, according to nan filing.

“In 2019, Plaintiff’s gambling activity exceeded $24 million, including much than $5 cardinal successful a 16-day play successful January 2020. From May 2019 to January 2020, Plaintiff placed much than 100,000 online bets,” according to Antar’s lawsuit.

Investment Fraud

Lawyers for BetMGM countered that Antar was simply trying to claw backmost money he owed aft being convicted of defrauding galore victims retired of much than $550K successful a bogus finance scheme.

In 2022, Antar was sentenced to 3 years successful situation aft pleading blameworthy to fraud charges. He was ordered to repay astir $650K. He has since been released.

The operator’s attorneys besides based on that nan CFA is preempted by New Jersey’s Casino Control Act (CCA).

In her ruling, Judge Madeline Cox Arleo agreed, penning that nan CCA “does not require casinos to forestall aliases extremity inducing gambling from those that grounds problem gambling behavior.”  She besides wished that “the casino owed plaintiff nary negligence communal rule work of care.”

“Although nan CCA regulates nan responsibilities of casinos arsenic they subordinate to problem gambling behavior, nan CCA is silent connected immoderate work owed by casinos to forestall aliases extremity inducing gambling from those that grounds problem gambling behavior,” Cox Arleo asserted.

‘Crazy’ Eddie Antar

Antar is nan nephew to disgraced electronics mogul “Crazy” Eddie Antar, erstwhile nan caput of nan multimillion-dollar Crazy Eddie electronics chain. The institution will beryllium remembered by Tri-state area residents of a definite property for its TV spots featuring power DJ Jerry Carroll exhorting consumers to succumb to nan company’s “insaaaaane” prices.

Once 1 of nan biggest user electronics chains successful nan US, Crazy Eddie floated connected nan NASDAQ successful 1984 earlier being exposed arsenic a fraudulent endeavor that artificially inflated profits and engaged successful wide securities fraud.

Eddie Antar was arrested successful Israel successful 1992 connected national racketeering conspiracy charges and extradited to nan US, wherever he spent 8 years successful prison. He died successful 2016.

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