Las Vegas Mass Shooter Victim Families To Receive Funds from Sold Property

Posted on: April 20, 2023, 06:41h. 

Last updated on: April 21, 2023, 10:43h.

Ed Silverstein @casinoorgedsilv Read More
Expertise: Legal, Tribal Gaming.

Proceeds from Las Vegas mass shooter Stephen Paddock’s $1.3M estate reportedly will be distributed among 61 victims’ families. Each family will receive about $20,000.

Concertgoers run during the deadly mass shooting in Las Vegas
Concertgoers run for cover during the 2017 deadly mass shooting in Las Vegas, pictured above. Proceeds from the shooter’s estate will go to the victims’ families. (Image: Getty Images)

A court document released this week reveals these include Nevada residences in Mesquite and Reno, as well as seven acres in Henderson, according to the Las Vegas Review-Journal.

Paddock’s mother agreed to the properties being sold and the money given to victims’ families, Las Vegas TV station KTNV reported. Attorneys and creditors also waived fees/balances so all the money could go to the families.

Word of the property sales was confirmed by attorney Alice Denton during a court hearing this week. Denton is a Las Vegas attorney specializing in probate law and estate planning. She is married to Judge Mark Denton.

In 2020, MGM Resorts and its insurers settled with shooting victims and relatives for $800 million.

Weapons Destroyed

It was revealed this week that 36 of the 49 guns owned by Paddock have been destroyed. The other 13 firearms belonging to Paddock were seized by the FBI and taken out of circulation. An unnamed person or entity paid $62,000 for the weapons under the condition they would be destroyed and taken out of circulation, the Review-Journal reported on Thursday.

Las Vegas District Judge Gloria Sturman ordered the destruction of Paddock’s guns in September.

Paddock, a 64-year-old accountant, opened fire on concertgoers from the 32nd floor of the MGM Resorts’ Mandalay Bay hotel. Several hundred people were injured, and 58 died. Two victims died from wounds two years after the shootings. An additional unnamed victim was added to the list of 60 previously announced victims.

Paddock committed suicide before authorities could reach him.

Potential Motive

Last month, a potential motive was released for the mass shooting. Shortly before the shooting spree, Paddock’s bank account balances dropped from $2.1 million to $530K, partly due to gambling losses, according to released FBI documents. He lost $38,000 weeks before the shootings while gambling at the Tropicana Las Vegas.

The FBI report also said a gambling acquaintance of Paddock’s revealed Paddock was “very upset at the way casinos were treating him and other high rollers.”

Casinos had reduced comps given to high rollers. That led to him get “upset and stressed.” He also expected to be given a penthouse suite at Mandalay Bay because he was a VIP player.

The mass shooting led to several improvements in casino-hotel security at many larger properties. Several Las Vegas properties now have specialized security forces ready to respond quickly to serious incidents, security consultant Tommy J. Burns recently told Casino.org.