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Enter your information below to add a new comment. If you continue to browse this site, you agree to this use. As I said, I have never forgotten you and your generosity, you remain a good friend of our family and always will !! The . "And the way he played blackjack, he made it a house game. He has won millions playing at live tournaments and also works as a brand ambassador for poker sites and other brands. In fact, they bent over backward to have Watanabe at their gaming tables, showering him with Rolling Stones tickets and $500,000 credit at the gift stores. Terrance Watanabe, an Omaha businessman, lost as much as $200 million at Caesars Palace and the Rio Hotel Casino in Las Vegas in 2007. Archie beat Stu in two consecutive games. The 25-years-old software engineer from Los Angeles played in a slot machine and won $39.7 million. He denies the charges, alleging that the casino reneged on promises to give him cash back on some losses, and encouraged him to gamble while intoxicated. He responded to the lawsuit with the accusation that Caesars had promised to refund 30% of his losses but never made payment. We use cookies to optimize your experience. Today we present to you the gamblers who went from riches to rags, or at least lost a substantial chunk of their fortune gambling. Terrance Watanabe (born 1962) is an American businessman and high roller who inherited Oriental Trading Company, a direct merchant of value-priced party supplies, arts and crafts, toys and novelties and school supplies founded by his father Harry Watanabe. Yet, he has kept cool about it. Terrance was known for the large amounts of money he wagered at Las Vegas casinos. Part of the allure of gambling is the chance to win big, but also the thrill of a big risk. Watanabe is estimated to have lost approximately $204 million. Watanabe has paid back $112million (70m) but he is refusing to hand over the rest. The casino operator was chasing a $14.7 million line of credit that Watanabe had gambled with and lost. Canada's favorite online casino resource, Casino Canuck has been providing the latest updates on all things gambling for years. The court sided with the Falcons, ruling that Vick had used the bonus money to fuel the gambling ring. From 1992 to 1994, Anargyros Karabourniotis, also known as Archie Karas, went on a legendary winning streak. How Your Local Grocery Store Is Designed Like A Casino, These Are Officially The Rudest Premier League Fans, Top Tips To Improve Your Chances Of Winning Scratch Cards, Highest And Lowest Gambling Taxes Around The World, Editorial $112.Million. $15 million (August 2020). While he won an impressive $35 million, he lost and even more staggering $90 million, working out to a total loss of $55 million. According to our Database, He has no children. He exited in 2000, selling his entire stake in the business to private equity firm Brentwood Associates. There's much more to the story at the WSJ >>. Terrance Watanabes income source is mostly from being a successful . Peter McCollough for The Wall Street Journal > The arithmetic is astoun-ding. He has hit hard times since losing at the Casino and cannot afford the surgery. A gambler who didn't know when to hold 'em -- or know when to fold 'em -- reportedly lost a jaw-dropping $125 million during a single year of gambling in Las Vegas. But he kept careful tax records, writing off all his losses to counteract the tax implications of his wins. type="text/javascript"><\/script>'); LAS VEGAS -- During a year-long gambling binge at the Caesars Palace and Rio casinos in 2007, Terrance Watanabe managed to lose nearly $127 million. https://www.bbc.com/news/world-latin-america-37699634 Daily Mail Reporter What matters is that the following famous gamblers who lost it allmake a good anecdote, but are a rather poor example of how to behave and act in a casino. He could be sentenced to 28 years in prison if he fails to pay up. The high-roller doesnt seem to regret his massive losses, still enjoying his gambling (albeit at a lower level than before). Ive had all the material things I could ever want. Terry Watanabe Retired at Oriental trading co inc Naples, FL. Terrance Watanabe's losses were so great they represented more than five per cent of the total revenue made by two casinos he visited, Caesars Palace and the Rio. We want to acquaint you with this unique personality. The comments are filled with some insight to what the man was like. In 2007, Terry took a trip to Las Vegas and spent an entire year gambling at different casinos, enjoying the gains and slowly wasting away his personal fortune. He was banned from Wynn Las Vegas for compulsive gambling. As children, Mr. Watanabe and his younger sister and brother worked with their father after school. Yet, his gambling proclivities have never been a source of regret to Barkley who has always been open about his addiction. He is a member of famous with the age 58 years old group. But Ive also went to Vegas and lost a million probably three times as much.. Watanabe claimed in court that Caesars plied him with booze and prescription pills to keep him gambling, something the operator denied. The casinos would send a private jet to bring him from California to Las Vegas, offer him suites and even free money to play with. While her gambling addiction is certainly a little sensationalist for good taste, OConnor is worthy of admiration. Now there are plans to make a film about Watanabe and his wretched losing streak. Terrances gambling binge lasted only until he blew it all away in the late 2008, and kept asking his sister for financial help. Watanabe was unable to pay his gambling debts to the casino, even suing them for plying him with drugs and alcohol. GET THE BEST EXPERIENCE. An American businessman Terrance Watanabe has lost $220 million gambling at casinos. September 15, 2022 8:58am. Casino Canuck. . When Terrance Watanabe's father passed away in 1977, he inherited the Oriental Trading Company from his successful business father. Watanabe received "tickets to the Rolling Stones, $12,500 a month for airfare and $500,000 in credit at the gift stores. -Find Latest Celebrities' Biography with Net North. 'He made such bad decisions on the blackjack table,' said Kristian Kunder, one of Watanabe's personal handlers at Caesars Palace. Name, email and comment will be stored in our database. Terrance was known for the large amounts of money he wagered at Las Vegas casinos. Now very wealthy, he decided to devote the rest of his life to philanthropy. Terrance built his personal fortune from a growing his Omaha, Nebraska business, Oriental . The rehabilitation center worked with Terrance for months in hopes of clearing him of his gambling and alcohol addiction, but sadly enough, they werent successful. Vick is definitely one of the gamblers who lost it all, but not in just a purely financial sense. 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Find Terrance Watanabe's phone number, address, and email on Spokeo, the leading people search directory for contact information and public records. Copyright 2009-2016 DailyBail. Watanabe made his fortune building up his fathers modest trade business, Oriental Trading Co., into a company with revenues of $300 million a year. Terrance Watanabe in California. Instead, he would just lay out the money on a table and wait for an opponent to approach him. But my hope is that you will find it in your heart to forgive me for my past and help me live long enough to help others in the future.. [1][2] He became a philanthropist,[3] but subsequently lost most of his fortune gambling in Las Vegas. His choices in games of chance were consistently boneheaded, the paper reports, as he would stay up all night to blow thousands on roulette and slot machines -- games in which odds are heavily in the house's favor. Save my name, email, and website in this browser for the next time I comment. The first one was heads-up Razz, which cost Stu $500,000, and then he secured a victory in 7-Card Stud, claiming an additional $700,000. Notify me of follow-up comments via email. Despite heavy losses, they continued gambling. We recommend you to check the complete list of Famous People born on . In 2007 he sat down at a table in Caesar's Palace and Rio, and, when he got up, later on, his pocket was $127 million lighter. Notably, he donated millions to AIDs research. document.write('