Las Vegas gambler who lost $127 million in Caesars Palace and Rio

By Villa777 on Dec 7, 09 03:36 PM in Cards

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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