The Losing streak to beat all losing streaks

You may have heard about high rollers at casinos but to lose getting on for €85 million in one year must take some doing but that is exactly what Terrance Watanabe managed at two of Harrahs Las Vegas casinos in 2007. Mr. Watanabe 52 from Omaha Nebraska acquired the money after selling up the family toy import firm but it is believed that the time spent at Caesars Palace and Rio Casino has eaten up most of his fortune. It has hit the news now because although Mr. Watanabe paid around €75 million of his debt he refuses to pay the remaining €10 million claiming that the casino was responsible for his losses by keeping him supplied with drink and other medication as part of a plan to keep him gambling and indeed for allowing him to play while drunk which is in violation of gambling rules. One of his witnesses is said to be a security guard from Caesars Palace who “does not recall ever seeing Mr. Watanabe in a sober state.” His generosity was also legendary at the casinos as he is reported to have regularly handed out bundles of $100 bills to Caesars employees. Two of Mr. Watanabe’s personal handlers (apparently you can get these if you wager enough money) say he had thousands of gift boxes from Tiffany which he would hand out to such employees as bartenders and security guards. Reports say that he became such a legend that folk would turn up at the casino just to watch but certainly not to learn; he is reported to have lost over €3 million in one 24 hour period playing Blackjack.

Not surprisingly the case is far from over with Harrah’s pressing charges for theft and bad cheques and Mr. Watanabe claiming breach of contract, conspiracy and negligence. Mr. Watanabe could face up to 16 years behind bars but is currently free on bail of $1.5 million but we do not know what his gambling habits are at the moment. One of our Casino tips warns of the dangers of playing while under the influence; it’s a shame Mr. Watanabe did not read it.