I think he had been planning for at least a little while, but for a high-stakes gambler (which he apparently was or had become) $160K in a few weeks is not a big deal. He was well off, supposedly from real estate investments.
To be Seven Star at Caesars, you gotta spend a butt load. Mandalay Bay is an MGM property so, what was he spending there? Guess it’s all moot at this point. Unless someone is looking for a big loss recently scenario. But I kinda don’t think that was a driver in this deal.