Array ( [title123] => Napster Redux [abcdefg] => Napster Redux [postDate123] => 2009-07-02 08:00:58 [categoryName123] => National )

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for 2009-11-20

Vegas’s Highest Roller

Think you’re a bad gambler? Meet the man who lost $120 million.

After selling his highly successful import/export business in 2000, Terry Watanabe devoted himself to his two passions: philanthropy and gambling.

He moved to Las Vegas, and was soon lured to Caesar’s Palace, where the casino’s owners, Harrah’s Entertainment, offered him some tempting comps: a three-bedroom suite at the hotel, 15 percent cash back on his table game losses, and a US $12,500 monthly budget for transportation – ironic, since he hardly left the casino. Oh, and another thing: Watanabe claims they supplied him with endless quantities of booze and prescription pills, fueling his days-long gambling binges. And it’s their fault, he alleges, that he lost US $112 million – an astonishing 20 percent of the entire revenue of his casinos of choice, Caesar’s Palace and the Rio.

Watanabe, who is facing trial for writing US $14.75 million in bad cheques, is suing Harrah’s for fueling his gambling addiction. He’s seeking exoneration from all charges. Also, he’s wondering if he can hold on to that hotel room, just for a little while?

Read about the highest of high rollers here.

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