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There are things that are unfortunate and there are things that sucks.
This suuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuucccccccckkkkkk kkssssssssssss for that guy.
By ALEXANDRA BERZON
LAS VEGAS -- 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.
Terrance Watanabe, 52, is believed to have the biggest losing streak in Las Vegas history, losing $127 million dollars in one year. Mr. Watanabe, who now lives in the Bay Area, stands near the entrance to Stanford University on Dec. 3, 2009.
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.
Nevada's Gaming Control Board has opened a separate investigation into whether Harrah's violated gambling regulations, based on allegations made by Mr. Watanabe.
In April, the Clark County District Attorney's office charged Mr. Watanabe with four felony counts in district court for intent to defraud and steal from Harrah's, stemming from $14.7 million that the casino says it extended to him as credit, and that he lost. Although Mr. Watanabe has paid nearly $112 million to Harrah's, he has refused to pay the rest. He denies the charges, alleging that the casino reneged on promises to give him cash back on some losses, and encouraged him to gamble while intoxicated. If convicted, Mr. Watanabe faces up to 28 years in prison.
Jan Jones, Harrah's senior vice president for communications and government relations, says Mr. Watanabe's civil suit and his defense against the criminal charges are attempts to get out of paying a debt and to avoid accepting responsibility for his own actions. "Mr. Watanabe is a criminal defendant who faces imprisonment," Ms. Jones says. "All of his statements need to be seen in that light."
Several former and current Harrah's employees say their managers told them to let Mr. Watanabe continue betting while he was visibly intoxicated, even though casino rules and state law stipulate that anyone who is clearly drunk shouldn't be allowed to gamble. These employees say they were afraid they would be fired if they did anything to discourage Mr. Watanabe from gambling at the casinos.
more......
http://online.wsj.com/article/SB125996714714577317.html
There are things that are unfortunate and there are things that sucks.
This suuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuucccccccckkkkkk kkssssssssssss for that guy.
rofl, heard about this this morning on the radio. That guy can suck a and cry me a river.
yea no .
no sympathy for that guy. at all.
he should just relish in the fact that he had the opportunity to lose what's probably the gdp of louisanna.
he should write a book, make a reality show and just try to cash in and do it all again.
He should've at least blown it on hookers and drugs. That would've been more fun.
Gotta love a situation where both sides are very very wrong.
I've seen the ruin of many a person at the tables. Personal experience with some of my family members who've lost pretty much everything to the desires and whims of luck. I don't really gamble much because of this, but it is kind've tragic that he was allowed to blow million upon millions in Vegas without someone saying, "hey buddy, maybe you should know when to fold 'em..." I've seen Harrah's and other hotel management groups allow gamblers who are beyond intoxicated to continue to gamble w/o any recourse. While I think it is a personal responsibility to know your limit, to allow someone under the influence to continuously waste there money shouldn't happen.
Drinking while gambling is flat stupid. I never touch a drop when I'm at the tables. There's time for that when you're "off the clock".
That being said, if they gave him pain meds to keep him at the table, they basically owe him everything he lost. That's criminal behavior.
Yeah, if the pain meds story is true..that's de able.
But still...LOL $127 million!
They don't build air conditioned fortresses in the desert from sober gamblers.
This guy deserves his losses. His version of broke is much different than you and I.
Vegas banks off of the drunkasses throwing their money away. As did I when I played low stakes poker the 2 years I lived on the west coast.
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