An American businessman spent all the money he had in the casino. How gambling addiction impacted your life.
Harrah’s Entertainment It is a company that owns the casinos Rio and Caesar Palace in Las Vegas. In 2007inside their offices there was a photo of Terrence Watanabean American businessman. It is presumed that, written at the bottom of the image, one could read: “Our benefactor”.
However, Harrah’s affection for Watanabe was not due to any financial skill or business maneuver on the man’s part, but rather due to the simple fact that contributed 5.6% of his turnover that year thanks to his failed bets.
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The origin of Terrance Watanabe’s fortune
Watanabe’s fortune came from his involvement in the family’s party supply importing business in Omaha, Nebraska. After a lifetime of work in Eastern Trading Companythe businessman was the owner of the company.
Terrance Watanabe’s gambling addiction
But all that fortune went to waste, after Watanabe lost around $127 million in Las Vegas. The situation benefited Harrah’s, which enjoyed incredible numbers in 2007. Although later, for years, the businessman and the company were in conflict over the casino’s responsibility for its losses.
The man assures that They took advantage of his situation while he was drunk and they encouraged him to take out loans and continue gambling. More precisely, he accuses casino employees of routinely providing him with alcohol and pain medication to keep him gambling.
In April of 2009the Clark County prosecutor’s office charged him with four counts of attempted fraud and robbery at Harrah’sfollowing US$14.7 million in credit that the casino says it extended to him and that he lost.
Source: Ambito
I am Pierce Boyd, a driven and ambitious professional working in the news industry. I have been writing for 24 Hours Worlds for over five years, specializing in sports section coverage. During my tenure at the publication, I have built an impressive portfolio of articles that has earned me a reputation as an experienced journalist and content creator.
