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

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

  1. jem

    jem

    I am a conservative - but I find this a tough call.

    Vegas seems to have a law which says Vegas should not be taken money from drugged up or very drunk people.

    so do we follow the law or do we let the guy be personally responsible.

    I say we let the guy sue and keep 20% of the recovery. We let the lawyers take 20% and we have 60% of the recovery go to approved charities.

    Casinos can not be allowed to think they can take money from drugged up patrons.

    This is just one reasonable solution.
     
    #31     Nov 22, 2009
  2. Pekelo

    Pekelo

    Quote from Loki:

    Just like the guy eating fast food every day and then suing McDonald's for getting fat.

    Except McD doesn't drug his costumers to keep them buying its products...

    He deserves to lose every dollar he got.

    That is one thing but they went after his non-existing 16 million and wanted to get a jail term for YEARS for writing a bad check...
    That is greed on the square...
     
    #32     Nov 22, 2009
  3. You have a point, but the guy is a gambler and he made A LOT of bad choices and mistakes...shouldn't he pay for that ?

    If you have been in Vegas for say 6 months and things are not going well and you decide to gamble for 6 more months and lose more money, who is to blame ?

    He was drugged and drunk, maybe on several occasions, but months ?
     
    #33     Nov 22, 2009
  4. [​IMG]
     
    #34     Nov 22, 2009
  5. jrlvnv

    jrlvnv

    The stories I can tell you about this person... WOW, is all I can say. Too bad I have a non disclosure policy at work. I have seen/dealt to him many times.
     
    #35     Nov 23, 2009
  6. Tabbbycat

    Tabbbycat

    Yes, he gambled and lost.

    And what did Harrah's do (allegedly)?

    Provided prescription painkillers -- ILLEGAL (Federal and Nevada)

    Plied intoxicated gambler with unlimited drinks -- ILLEGAL

    Provided gambler with drinking problem unlimited drinks -- ILLEGAL

    Accepted and encouraged action from patron with obvious gambling problem -- ILLEGAL

    Increased credit line for patron with obvious gambling problem -- ILLEGAL

    Reneged on written promise to provide marker discounts and comps -- ILLEGAL

    Violated contract to hold markers for 60 days or longer -- ILLEGAL

    Ordered security and other personnel to perform or fail to perform duties required for unrestricted gaming licensee -- ILLEGAL

    Steve Wynn, no doubt similarly tempted by Mr. Watanabe's bankroll, was somehow able to resist violating half the Nevada Revised Statutes and do the right thing, which was to cordially refuse further action from Mr. Watanabe (as well as forgiving $5 million in debt). Perhaps that's because he is a smart businessman and not one of the retarded crooks filling Harrah's ranks.
     
    #36     Nov 26, 2009
  7. Harrah's CEO Gary Loveman is the guy that shows up in commercials telling viewers that if they know of anyone who is having a gambling problem to dial a 1-800 number.

    This Watanabe guy has a case.
     
    #37     Nov 27, 2009