Fulgencio Batista Net Worth

Batista encouraged large-scale gambling in Havana. In 1955, he announced that Cuba would grant a Gaming license to anyone who invested US$1 million in a hotel or $200,000 in a new nightclub—and that the government would provide matching public funds for construction, a 10-year tax exemption, and waive duties on imported equipment and furnishings for new hotels. Each casino would pay the government $250,000 for the license, plus a percentage of the profits. The policy omitted background checks, as required for casino operations in the United States, which opened the door for casino Investors with illegally obtained funds. Cuban contractors with the right connections made windfalls by importing, duty-free, more materials than needed for new hotels and selling the surplus to others. It was rumored that, besides the $250,000 to obtain a license, an additional "under the table" fee was sometimes required.

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