Can you imagine losing $1 million to the casinos? No? How about $127 million? In one year. That's how much Terrance Watanabe lost, making it one of the biggest - if not the biggest - losing streaks by an individual in Las Vegas history.
The run is believed to be one of the biggest losing streaks by an individual in Las Vegas history. It devoured much of Mr. Watanabe's personal fortune, he says, which he built up over more than two decades running his family's party-favor import business in Omaha, Neb. It also benefitted the two casinos' parent company, Harrah's Entertainment Inc., which derived about 5.6% of its Las Vegas gambling revenue from Mr. Watanabe that year.
Today, Mr. Watanabe and Harrah's are fighting over another issue: whether the casino company bears some of the responsibility for his losses.
In a civil suit filed in Clark County District Court last month, Mr. Watanabe, 52 years old, says casino staff routinely plied him with liquor and pain medication as part of a systematic plan to keep him gambling.
Like the motto says, apparently your cash really does stay in Vegas. Alexandra Berzon from The Wall Street Journal reports: Link
(Photo: Peter McCollough for the Wall Streer Journal)