Philly mob and money

[CornerBoy]

Bruno and Scarfo controlled the casinos and the syndacates in Atlantic City plus in the 1980s the family was so strong to impose a street tax and with the K&A gang Philly becomed the meth capital of USA and Leonetti said that Scarfo had 3 milions hidden in a wall that was only his part from the street tax.
Ligambi rebuilted the family after a decade of war and made new blood but the family didn't control anymore the unions and had a little presence in drug traffick,after said that for sure the Philly was more active in the traditional LCN rackets but with 20-30 active members I doubt Ligambi made more than 2 or 3 milions during his street boss reign.

$2-3 million over 10+ years seems like a gross underestimate. The family was raking in that kind of money per year just from Joker Poker machines before the 2011 bust. Add his loan shark earnings and whatever he was getting from the kick up and you got a big haul.

no way merlino even has 1,000,000 USD in cash, real estate --net worth less than a million

[Pogo The Clown]

And all that video poker money amounted to little after it was all split up. First the bar and club owners got about half of the profits from the machines. Then just about every active member in Philly got a piece. For example Natale testified that in the mid 1990s the video poker money was split between 10 made members with each receiving about 1.000 per week (about 1,600 in today's money). And if any of these made guys had associates doing their collections they probably got a piece as well. Before the covid shutdown I would imagine that the video poker money is being split by even more made members considering that are more of them around than there would have been when Natale was on the street.


Pogo

[Amershire_Ed]

Bruno and Scarfo controlled the casinos and the syndacates in Atlantic City plus in the 1980s the family was so strong to impose a street tax and with the K&A gang Philly becomed the meth capital of USA and Leonetti said that Scarfo had 3 milions hidden in a wall that was only his part from the street tax.
Ligambi rebuilted the family after a decade of war and made new blood but the family didn't control anymore the unions and had a little presence in drug traffick,after said that for sure the Philly was more active in the traditional LCN rackets but with 20-30 active members I doubt Ligambi made more than 2 or 3 milions during his street boss reign.

$2-3 million over 10+ years seems like a gross underestimate. The family was raking in that kind of money per year just from Joker Poker machines before the 2011 bust. Add his loan shark earnings and whatever he was getting from the kick up and you got a big haul.

no way merlino even has 1,000,000 USD in cash, real estate --net worth less than a million

Serious question: is that because the rackets have dried up or because Merlino is a gambler and known to spend and not be great with money?

[Pogo The Clown]

I'd say a combination of both. He has been at the top for 25 years so even if the rockets aren't what they used to be he should have been able to accumulate some legit investments or wealth but it doesn't seem he really has any. He had that one failed restuarant in Florida but I can't recall anything else. Hasn't his wife been working a legit job for the last 20 years?


Pogo

[SonnyBlackstein]

Hasn't his wife been working a legit job for the last 20 years?

Is he still married to Mrs Chang?

Thought they got divorced?

[Wiseguy]

Merlino seems like the kind of guy who spends it as fast as he makes it. He doesn't strike me as being very concerned about accumulating wealth. As long as he has guys down the ladder kicking up to him, or others paying his way to be around him, he has steady streams of income.

[dack2001]

Merlino wouldn't want to put anything in his name. He wouldn't put anything in his wife's name unless his wife's income can float it. Her income was enough to keep their 400,000 house in her name nearly 20 years ago. Daughters going to a fine college, not wanting for anything, he's driving the car, wearing finest clothes, eating where wants, probably doing retail sales for some flooring company while on supervised release...for a guy who was a maiter'd for a year and half in between two decades in the can.... he's doing pretty damn good considering......

[Pogo The Clown]

Hasn't his wife been working a legit job for the last 20 years?

Is he still married to Mrs Chang?

Thought they got divorced?

Don't recall them getting divorced though I think they may be living apart. Didn't she stay in Philly or Jersey while he was living down in Florida?


Pogo

[Stroccos]

Merlino wouldn't want to put anything in his name. He wouldn't put anything in his wife's name unless his wife's income can float it. Her income was enough to keep their 400,000 house in her name nearly 20 years ago. Daughters going to a fine college, not wanting for anything, he's driving the car, wearing finest clothes, eating where wants, probably doing retail sales for some flooring company while on supervised release...for a guy who was a maiter'd for a year and half in between two decades in the can.... he's doing pretty damn good considering......

yet he was on a wiretaps crying he couldnt pay the rent?

[Teddy Persico]

And all that video poker money amounted to little after it was all split up. First the bar and club owners got about half of the profits from the machines. Then just about every active member in Philly got a piece. For example Natale testified that in the mid 1990s the video poker money was split between 10 made members with each receiving about 1.000 per week (about 1,600 in today's money). And if any of these made guys had associates doing their collections they probably got a piece as well. Before the covid shutdown I would imagine that the video poker money is being split by even more made members considering that are more of them around than there would have been when Natale was on the street.


Pogo

It’s been a long time since I’ve read about this, but someone testified at the trial that the family could make $500-$1000 a week on a machine. The indictment initially charged 8 people with at least one count of being part of an Illegal Electronic Gambling Device Business. https://6abc.com/archive/8146349/

[Fughedaboutit]

Merlino wouldn't want to put anything in his name. He wouldn't put anything in his wife's name unless his wife's income can float it. Her income was enough to keep their 400,000 house in her name nearly 20 years ago. Daughters going to a fine college, not wanting for anything, he's driving the car, wearing finest clothes, eating where wants, probably doing retail sales for some flooring company while on supervised release...for a guy who was a maiter'd for a year and half in between two decades in the can.... he's doing pretty damn good considering......

yet he was on a wiretaps crying he couldnt pay the rent?

You really believe that? LMAO Wiseguys never claim poor.

[Fughedaboutit]

Didn't someone say Dom drives around in a 7 series?

[Wiseguy]

And all that video poker money amounted to little after it was all split up. First the bar and club owners got about half of the profits from the machines. Then just about every active member in Philly got a piece. For example Natale testified that in the mid 1990s the video poker money was split between 10 made members with each receiving about 1.000 per week (about 1,600 in today's money). And if any of these made guys had associates doing their collections they probably got a piece as well. Before the covid shutdown I would imagine that the video poker money is being split by even more made members considering that are more of them around than there would have been when Natale was on the street.


Pogo

It’s been a long time since I’ve read about this, but someone testified at the trial that the family could make $500-$1000 a week on a machine. The indictment initially charged 8 people with at least one count of being part of an Illegal Electronic Gambling Device Business. https://6abc.com/archive/8146349/

There's been a lot of figures thrown out about this. Natale said an operation with 50 or 60 machines could generate profits of about $20,000 a week. Or $80,000 a month. This would be $1,300 - $1,600 a month per machine. Other sources had even bigger numbers, saying a machine in a good spot could bring in $500 - $1,000 a week ($2,000 - $4,000 a month) in profit.

Regardless of hypothetical figures, we can look at the actual numbers involved in the case. After their warehouse was raided, and 34 machines seized, in 2001, the Philly mob moved in on machines owned by M&P, originally started by Tony Milicia and Louis Procaccini. They basically "made them an offer they couldn't refuse" - a lowball $63,000 for 34 machines in 21 locations. Procaccini understood he didn't really have a choice, even though the machines and stops were worth more than that.

In one place I read the company, which was started in the mid-1990s, also distributed video games and cigarette and snack vending machines. One article said M&P was taking in about $1 million a year. Another said the company was taking in about $70,000 a month (which would be $840,000 a year).

I don't know if Ligambi, Massimino, and Staino only took over a part of M&P's interests or what but the Staino sentencing memorandum said the 34 machines in 21 stops they took over from M&P took in $7,000 - $10,000 a month in profit in 2001. Or about $84 000 - $120,000 a year ($125,000 - $175,000 adjusted for inflation). This would be about $200 - $300 a month per machine. Again this was profit (apparently after the split with the owner of the stop) and was mainly divided up the principals in JMA - Ligambi, Massimino, and Staino.

JMA apparently did have more more than just those 34 machines because 50 of their machines were seized from 13 locations in 2009.

[Stroccos]

Merlino wouldn't want to put anything in his name. He wouldn't put anything in his wife's name unless his wife's income can float it. Her income was enough to keep their 400,000 house in her name nearly 20 years ago. Daughters going to a fine college, not wanting for anything, he's driving the car, wearing finest clothes, eating where wants, probably doing retail sales for some flooring company while on supervised release...for a guy who was a maiter'd for a year and half in between two decades in the can.... he's doing pretty damn good considering......

yet he was on a wiretaps crying he couldnt pay the rent?

You really believe that? LMAO Wiseguys never claim poor.

Yeah he’s a degenerate gambler

[NJShore4Life]

Dom G bought me two beers and a shot last time I ran into him, he’s a good guy and very generous in my book. Look, it’s just like anything else the best will make a lot and the worst will be brokesters , it’s like any other profession in America.