Deutsche Bank's exposure to Las Vegas Casinos

When a single bank lends nearly USD 1 million per room (!!) to a Las Vegas casino-cum-hotel project one has to wonder what senior management and in particular risk management was up to. It is easy to create large amount of lending volumes (and bonuses) by lending to mega projects in property but this also creates a trap if the business is not supervised closely. A similar risk is created by lending to finance takeovers and acquisitions by financial 'sponsors' as these deals are cheap in terms of manpower expended. One should not be surprised if little or no capacity is left to finance ordinary business.