So, while we may not be able to identify a casino owned by a politician, there are politicians who do own casinos, particularly those from Third World countries who are only concerned with fueling their flamboyant lifestyles.
Part of the system to make money includes investing in businesses that are always going to make money. This includes casinos and politicians are aware of the risks that a casino has to bear. There are problems with the police and problems with law enforcement where the said politicians can help them.
Funding in the starting stages needs the help from the banks which becomes easier once politicians step in.
Of course we should learn from such moves and not get disgusted by them. We can also invest in casinos and reap the benefits if done in the long term.