When I first read about Terrance Watanabe I thought I was going to read about a guy who holds the world record for the most money ever lost to casinos. The guy has lost about $200M to the casinos. Specifically he lost all the money to the Rio and Caesars Palace in Las Vegas.
I am trying to get a grip around those numbers. Oh, and in case you think this was over several years, then guess again. The guy lost it all in one year. Yep. Almost a million dollars a day he was losing to casinos. God, they must have a good buffet at those places to be worth a million bucks a day.
The reason all of this has come to light is because Terrance paid the casinos everything he owed, except for about $14M. The casinos say he bounced some checks for that amount so they filed criminal charges against the guy.
Watanabe says the casino offered to offset his losses by 30% so he figures they owe him money since 30% of 200M is about $60M.
He also said they kept him in virtual lockdown, drunk and hooked on painkillers during the year. He doesn't want his money back. He just wants them to stop pressing charges for the remaining $14M.
Here is what I think. I think the guy lost a pile of money. The casinos just look like a-holes for wanting more. It isn't like the guy got $200M worth of services from them. Walk away. Give the guy a free shrimp cocktail. Thank him for giving you $186M and then walk away.
Lockdown? Isn't that kidnapping?
ReplyDeleteSo, what does he do again, to have $200M lying around to blow on glambling?
ReplyDeleteI'm guessing he didn't lose it on the slots, either. His arm would have fallen off after the first $50M.
lol @ Shmooey
ReplyDelete@shmooey,
ReplyDeleteHere's a link from the Wall Street Journal that explains his business and his demise. It's really interesting and quite sad.
http://online.wsj.com/article/SB125996714714577317.html
Thats ALOT of money to lose in a year!
ReplyDeleteThanks, not on my dollar.
ReplyDeleteIt seems he is a very hard working and very generous individual, it's a shame he got into gambling.
I'm glad his family is supporting him, and hopefully he will turn his life around.
The casinos are evil. That is all.
He has an addiction and that is sad but you shouldn't just be able to walk away. You lost now you gotta pay, if it had been the other way around he would of wanted every penny he was owed.
ReplyDeleteI didn't read the article since I'm going to focus purely on the kernal of this story. So if he was supposedly on lockdown, drunk, and hooked on painkillers, he was STILL able to push those chips around and make decisions on bets, or did THEY move his hands for him?
ReplyDeleteWas there no phone in his room? No cops wandering the casino? No sympathy from me here if he fucked up his income. Mine comes to me too dearly to be able to waste it on gambling!
Okay, somebody has to say it:
ReplyDeleteBoy was beaten with the Ugly Stick. Hard.
Holy Hockeysticks Batman! 200Mill??
ReplyDeleteI just might pass out. Here I am lamenting having to pay $600 to get my car fixed?
I need a drink .... Anyone want to join? First rounds on the man dumb enough to keep gambling after the first 100 K.