California Casino re-opens after FED raid

The Bicycle Hotel & Casino in California which was raided on Tuesday by law enforcement officials led by members of the Los Angeles High Intensity Financial Crime Area Task Force has re-opened 20 hours after the raid.

“We are serving our customers and resuming normal operations immediately,” the casino said in a statement. “Our priority is to provide a safe and fun environment for our guests.”

This latest raid which is thought to be related to money laundering is not the first time the Bicycle Hotel & Casino has been investigated. In 1990, the Drug Enforcement Administration and the IRS investigated the casino as it was reported that $12 million of the $22 million it cost to build the resort was from proceeds of drug related crime.

Then a year later the federal government took over partial control of the casino believed to be the part owned by drugs related crime and then sold it off five years later.