No, it's not. He ran a casino into the ground. A casino? Otherwise known as a license to print money.
Guess you don't realize that casino's aren't a license to print money, but in many cases operate on a thin profit margin. And the more casino's there are, the more that margin thins out. Let's look at Ontario for example: All the casino's here are operated by the provincial government. Around 70% of them are money losing ventures because they've built so many that they've created an artificial glut.
Welcome to business 101.