Las Vegas gambler who lost $127 million in Caesars Palace and Rio
AND I thought I was on a bad losing streak...
Spare a thought for Terrance Watanabe who managed to lose nearly $127 MILLION in just one year at Las Vegas' Caesars Palace and Rio casinos.
The 52-year-old 'whale' is now suing the casinos, claiming they encouraged him to continue to gamble by plying him with drink.
Throughout 2007, Watanabe practically lived at the two casinos, betting a stunning total of $825 million.
He would sometimes stay up for 24 hours at a stretch placing huge bets on roulette and $25 multi-line slot machines.
When he played blackjack, he would often play three hands at the same time, each with a $50,000 limit.
'He made such bad decisions on the blackjack table,' said Kristian Kunder, one of Watanabe's personal handlers at Caesars Palace.
At his rock bottom in 2007, Watanabe lost $5 million in just one 24-hour gambling binge.
Now the gambler, who made his fortune from the party favour business, hopes to force the casinos to pay him some of the money back through a legal test case.
Other whales nursing multi-million losses will be watching this one with interest...
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