The Flamingo Tapestry

In late 1945, mobster Bugsy Siegel and his partners came to Las Vegas. Vegas reportedly piqued Siegel and his mob's interest because of its legalized gambling and off-track betting. At the time, Siegel held a large interest in Trans America Wire, a racing publication. Siegel began by purchasing El Cortez on Fremont Street for $600,000. His expansion plans were hampered by unfriendly city officials aware of his criminal background, so Siegel began looking for a site outside the city limits. Hearing that Wilkerson was seeking extra funding, Siegel and his partners posed as businessmen and directly bought a two-thirds stake in the project.