Terry Watanabe loses $100 million in Vegas then sues Harrah's

Discussion in 'Wall St. News' started by WallStWhizKid, Nov 20, 2009.

  1. pspr

    pspr

    It seems the sucker was going to walk away without contesting his $100M in losses until the casino tried to squeeze him for another $15M in bad checks.

    I hope the casino loses its ass in this case. Casinos are crooked to the core. Can anyone say $1 Billion in punitive damages?

    I would love to be on that jury!
     
    #11     Nov 20, 2009
  2. You see, that's the thing. Casino's AREN'T crooked. He knew the rules and the odds of winning before he decided to play. Degenerate gamblers like him continue to play even though they know the odds of winning are slim to none.

    Why is the casino not entitled to their $15M from the bad checks? It's a business just like any other.
     
    #12     Nov 20, 2009
  3. pspr

    pspr

    Re-read the story.
     
    #13     Nov 20, 2009
  4. that's exactly how I read it - harrahs would have been wise to pull him into a room, and have him sign a non-disclosure and forgivenss of the debt as a "courtesy to one of our VIPs"

    they're just being fucking greedy for not having their risk management keep a handle on his ability to pay - they had the hundred million, and the bad checks went straight back into the casino - it didnt cost them a cent beyond the pay to the employees running the table he lost at

    I hear Art Valdelay lost half of his import export business the same way

    key phrase from the story "It is against Nevada law for a casino to knowingly let a gambling addict play"

    Based on that phrase, f I were on the jury, I'd sock it to them too and say "you and terry both have something in common - you dont know when to just walk away" or just simply 'aint that a kick in the head?'
     
    #14     Nov 20, 2009
  5. if you have 100 million dollars...why are you gambling? What on earth does that do for you?
     
    #15     Nov 20, 2009
  6. Compulsive gambler essentially lives in casino. Enjoys many comps and perks. Compulsive gambler proceeds to lose many millions of dollars while drunk and on pain killers. Compulsive gambler blames casino for his losses and tries to sue to get them back claiming they fed him the booze and drugs (apparently they had a gun to his head, and refused to let him leave the casino).

    Am I missing something?
     
    #16     Nov 20, 2009
  7. Degenerate gamblers like that gamble to lose. It's a rush. If this guy was up $100M, he would have given it back over time for sure.
     
    #17     Nov 20, 2009
  8. the irony is, his company was supplying chinese junk for prizes at rip off games of chance at carnivals

    what goes around, comes around, i guess

    all for nothing, in the end
     
    #19     Nov 20, 2009
  9. jem

    jem

    and even funnier it is now owned by a a group which according michael moore is owned in part by G. H Bush- rips off america and transfers trillions to saudi arabia.

    They probably own the casino which milked him so essentially they got the business for a nice hotel suite, some drugs and stones tickets.
     
    #20     Nov 20, 2009