Terry Persaud, 60, of Herstelling Squatting Area, East Bank Demerara (EBD) was this afternoon shot and robbed of some $4M in cash at the All Seasons Horse Racing and Sports Betting facility on Robb Street, Georgetown.
The crime was committed by a lone gunman at around 15:00hrs, police said.
Persaud was at the shop placing bets when the gunman approached and demanded that he hand over his haversack which contained the money.
Persaud refused to hand over his bag, causing the perpetrator to whip out a gun and shoot the man to his right thigh.
The bandit then grabbed the bag and escaped on a black motorcycle which was parked on Robb Street.
The victim was taken to the Georgetown Public Hospital Corporation, where he is presently receiving medical attention. Investigations are in progress.