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Man loses $127 million in Vegas and then sues
Gambler Who Dropped $127 Million in Vegas Blames Casino for Losses - ABC News.
A Nebraska businessman who lost nearly $127 million in a yearlong, Las Vegas gambling binge has accused two Las Vegas casinos of plying him with generous amounts of alcohol and prescription drugs to keep the cash flowing
Terrance Watanabe said he bet more than $825 million and lost nearly $127 million of it in Caesars Palace and the Rio casinos in 2007, believed to be the biggest losing streak in Vegas history.
"It's a tragedy, Mr. Watanabe's a tragedy," his lawyer, Pierce O'Donnell, told "Good Morning America" today. "He was so addicted and so out of it, he didn't really realize what was going on."
Watanabe has since been charged with four felony counts for refusing to pay the final $14 million and faces 28 years in prison if convicted.
The well-known businessman and philanthropist is credited with providing Harrah's Entertainment Inc., the parent company of both casinos, about 5.6 percent of its total Las Vegas gambling revenue that year.
Now, Harrah's and Watanabe are engaged in a complicated legal battle after Watanabe filed a civil suit in Clark County District Court last month claiming the casino was partly responsible for fueling his stunning streak by providing him free drinks and painkillers and allowing him to gamble when he was clearly intoxicated.
Gambler Who Dropped $127 Million in Vegas Blames Casino for Losses - ABC News.
A Nebraska businessman who lost nearly $127 million in a yearlong, Las Vegas gambling binge has accused two Las Vegas casinos of plying him with generous amounts of alcohol and prescription drugs to keep the cash flowing
Terrance Watanabe said he bet more than $825 million and lost nearly $127 million of it in Caesars Palace and the Rio casinos in 2007, believed to be the biggest losing streak in Vegas history.
"It's a tragedy, Mr. Watanabe's a tragedy," his lawyer, Pierce O'Donnell, told "Good Morning America" today. "He was so addicted and so out of it, he didn't really realize what was going on."
Watanabe has since been charged with four felony counts for refusing to pay the final $14 million and faces 28 years in prison if convicted.
The well-known businessman and philanthropist is credited with providing Harrah's Entertainment Inc., the parent company of both casinos, about 5.6 percent of its total Las Vegas gambling revenue that year.
Now, Harrah's and Watanabe are engaged in a complicated legal battle after Watanabe filed a civil suit in Clark County District Court last month claiming the casino was partly responsible for fueling his stunning streak by providing him free drinks and painkillers and allowing him to gamble when he was clearly intoxicated.