The Bicycle Hotel and Casino in Bell Gardens, California, was closed down by law enforcement officers on Tuesday morning. The gambling establishment which features 185 poker tables was reportedly targeted by the authorities on allegations of suspected money laundering.
According to reports, the ICE’s Homeland Security Investigations department along with the IRS Criminal Investigation unit, the California DoJ Bureau of Gambling Control and the US attorney’s office are behind the raid.
Casino representatives have announced that once investigative works are brought to an end, the gambling parlor will resume operations.
The Bicycle Casino was established 33 years ago. It is a privately owned casino but at one point in the past the US government owned a stake in it amounting to roughly one third. This came about after it was proven that the casino laundered $12 million of drug money for its construction. The government made handsome profits in the region of several tens of millions of dollars before selling its stake.