A 52-year old gambler who reportedly gambled over five million dollars a day, and lost a grand total of $127 million dollars in one year, has taken civil action against a popular Las Vegas casino. According to the gambler, Terrance Watanabe, the casino is to blame for his incredible loss, and he wants his money back.
How Terrance Watanabe Got Here
Terrance Watanabe made a fortune running an import company that sold party favors started by his father. Around 2000, Watanabe started frequenting Las Vegas casinos, particularly ones owned by Harris, aimed at spending that fortune. Watanabe didn’t start out small, after all the man had a fortune to spend, but Harris employees say his gambling didn’t become a problem until almost five years later.
In 2005, Watanabe had developed a heavy drinking problem. He was also visiting the casinos more frequently. Some reports say he was gambling on five million or more a day.
Two years later, in 2007, Harris casino employees took a keen interest in Watanabe. Steve Wynn personally reviewed the gambler’s history and spoke to him about what Wynn considered to be a serious gambling addiction. Watanabe was eventually banned from the casino.
Las Vegas’ Big Loser
Between 2000 and 2007 Terrance Watanabe lost a good deal of money. In fact, his losses added up to 5.6% of Harris total revenue in one year. That year marked the longest loosing streak in Las Vegas history. Watanabe lost a total of $127 million dollars in the Caesars Palace and Rio casinos.
Unfortunately, most of those losses were on credit given by Harris; a credit that Watanabe didn’t repay. In April of 2007 he was charged with four counts of intent to steal when he failed to repay Harris a $14 million dollar debt. He faces up to 28 years in prison if he is convicted of the charges.
Terrance Watanabe Sues Las Vegas
In lieu of just repaying Harris, Watanabe elected to file a civil suit instead. According to him, employees of the casino alternated between feeding him pain medication and alcohol in an attempt to keep him gambling.
Pierce O’Donnell, Watanabe’s lawyer, told reporters that Harris “preyed” on Watanabe’s drinking and gambling addiction, and that the failed to follow protocol. (In Las Vegas, a casino is supposed to ask anyone who has had too much to drink to stop gambling.) However, he admits claims that Watanabe knew he had a problem when he lost the $127 million.
The civil suit has caused the Nevada gaming commission to open an investigation in to Harris’ treatment policies.
The results of the civil case may not be in for months. In the meantime, Watanabe’s debt is on hold and he is still banned from the casino.
