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During a year-long gambling binge at the Caesars Palace and Rio casinos in 2007, Terrance Watanabe managed to lose nearly $127 million.
The run is believed to be one of the biggest losing streaks by an individual in Las Vegas history. It devoured much of Mr. Watanabe's personal fortune, he says, which he built up over more than two decades running his family's party-favor import business in Omaha, Neb. It also benefitted the two casinos' parent company, Harrah's Entertainment Inc., which derived about 5.6% of its Las Vegas gambling revenue from Mr. Watanabe that year.
The Gambler Who Blew $127 Million
Seeded on Sat Dec 5, 2009 5:23 PM EST
Article Source: Wall Street Journal- Enjoy this article? Help vote it up the 'Vine.
- Public Discussion (6)
Today, Mr. Watanabe and Harrah's are fighting over another issue: whether the casino company bears some of the responsibility for his losses.
In a civil suit filed in Clark County District Court last month, Mr. Watanabe, 52 years old, says casino staff routinely plied him with liquor and pain medication as part of a systematic plan to keep him gambling.
- 3 votes
#1 - Sat Dec 5, 2009 5:24 PM EST
Anything is plausible.. but they didn't make him walk in there ..
- 5 votes
.. but they didn't make him walk in there ..
You haven't heard, Par? The casinos now have mind control devices that they can use on unsuspecting gamblers! <sarcasm>
- 4 votes
Yes... mind control... oooo like the "Outer Limits" - We have full control of your television set... ooooooo - Maybe you heard also - that alien beings from another galaxy actually operate the casinos?
- 3 votes
"...nearly $127 million...of Mr. Watanabe's personal fortune, he says, which he built up...running his family's party-favor import business in Omaha, Neb...".
OVER $127 MILL importing party favors? Only if they were party favors imported from Colombia... the kind that throw a party up your nose!! I just hope there's enough left for his family to hire a hit man... Lifestyles of The Rich & Dumbass
- 2 votes
#3 - Sat Dec 5, 2009 9:33 PM ESTYou're in Easy Mode. If you prefer, you can use XHTML Mode instead. |
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