That's his trademark scam. He's come away fairly rich from all his bankruptcies because he keeps himself insulated from the corps. He still brags that he made millions the whole time he owned the casinos. He's said things like " Yeah, the casino's went bust but I did really very well".
Which means shittypants is the classic mobster that skims away entire profits until the corp is a prune and squeezed dry.
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