Gambler who lost millions claims he was plied with alcohol, drugs

[Earth Bound Misfit]

http://www.lasvegassun.com/news/2009/may/18/gambler-who-lost-millions-claims-he-was-plied-alco/

High-rolling Nebraska philanthropist Terrance K. Watanabe is mounting an unusual defense to charges he failed to pay $14.7 million in Strip gambling debts.

He is accusing Caesars Palace and the Rio, both owned by Harrah’s Entertainment, of providing him with a steady flow of alcohol and — in the case of Caesars Palace — prescription painkillers as his losses increased.

His Las Vegas attorney, David Chesnoff, lays out the defense in a letter to prosecutors, claiming that casino employees will testify that the resorts kept the prolific gambler in a constant state of intoxication in the latter months of 2007 in violation of state gaming regulations.

The Las Vegas Sun has obtained a copy of the seven-page letter, which maintains that Watanabe was in such an incoherent state that he was “incapable of forming the criminal intent” to avoid paying his gambling debts.

Harrah’s Entertainment spokesman Gary Thompson declined to comment on the allegations, saying the company has a long-standing policy of not commenting on legal matters.

A county grand jury indicted Watanabe, 52, on April 29 on theft and bad-check charges, stemming from gambling losses of $12 million at Caesars and $2.7 million at the Rio from October through December of 2007.

Those losses pale when compared with Watanabe’s massive overall losses at Harrah’s Entertainment casinos during 2007, Chesnoff said in the letter.

Watanabe, who is to be arraigned in District Court on Wednesday, lost an astounding $112 million that year at Harrah’s casinos, including $94.1 million at Caesars Palace and $12.2 million at the Rio, Chesnoff said.

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As a casino employee, my co-workers and I are periodically required to attend a "responsible gaming" seminar--which takes about an hour--that lays out company policy toward "problem" gambling (intoxicated patrons, compulsive gambling, etc) and each employee's responsibility in such cases. Other departments are probably required to attend more intensive training, i.e. Security, but as a dealer I have alerted our responsible gaming "Ambassadors" (usually a pit or shift manager) on many occasions. In the case of "high-rollers" such as Mr. Watanabe, the usual response is "Dummy up and DEAL".

Edit spelling

[YOY]

1. Part of me doesn't feel too sorry for him.

Part of me understand exactly what "dummy up and deal." means and that there really isn't a lot of mercy when it comes to bilking a fool.

[Earth Bound Misfit]

4. One of the reader resposes described it accuarately...

Isn't the Gaming Industry glamorous?
How much complicity had to take place to fleece this guy out of his fortune?
Do you think this behavior is isolated? HA HA!
It's right out of the "how to fleece a whale" manual, for crying out loud.


No sympathy here. This from a (gratefully) recovering compulsive gambler.

[Liberal In Texas]

2. I'm not a gambler, but it seems that a casino that lets somebody get into

that much debt (Millions!) deserves to get stiffed.

[Earth Bound Misfit]

6. Former Philly Eagles owner Leonard Tose lost his ENTIRE fortune gambling

and tried to sue the casinos with a similar defense.


He lost.

The "house" always wins.

[madokie]

9. The "house" always wins.

So where is the gambling? Kind of strange that people will choose to give their money away for a few moments of some kind of exhilaration or whatever they get out of it. It's all crazy if you ask me.

[Earth Bound Misfit]

12. An addiction is an addiction...

Isn't it strange that people will choose to give their money away for a few moments of some kind of exhilaration or whatever from...drugs...alchohol...shopping...smoking... etc?

Strange indeed.

[Earth Bound Misfit]

13. This looks like an interesting study...

http://ajp.psychiatryonline.org/cgi/content/abstract/141/2/215

Affective disorders among pathological gamblers seeking treatment

Clinical impressions and psychological testing suggest that pathological gamblers demonstrate a high incidence of affective disorders. To assess the frequency of such disorders, the Schedule for Affective Disorders and Schizophrenia was administered to 50 patients admitted successively to the gambling treatment program of a VA hospital. Seventy-six percent of the subjects were diagnosed as having major depressive disorder and 38% as having hypomanic disorder according to the Research Diagnostic Criteria. The patients with major depressive disorder and one patient with schizoaffective disorder, depressed type, were significantly more likely to miss work often due to gambling. A large number of patients displayed suicidal tendencies.

The entire study requires subscription.

[madokie]

3. I've never understood why one would choose to gamble

so I can't honestly say I feel for him. Having said that, from the outside looking in I say he may have a case though.

[Earth Bound Misfit]

7. See reply #6

[JonLP24]

8. It's like a thrill of a chase

Usually a gambling addict that is gambling shows the same release of chemicals as cocaine. I don't have any links because this is something I learned in rehab.

[madokie]

10. Kind of like it was for me when I used to chase the ol largemouth bass

the thrill was getting her or him on the hook. From that point on I didn't really care if I got it to the boat or not as I already had my thrill.

[seabeyond]

15. its fun. i loved the poker machines. addictive. BUT one of the first nights in town

i went out gamblin with a gambler and watched her lose and the desperation. after an all nighter at 9 am looking for more money to gamle was the best lesson for me.

i would take 20, play that. when i was over the twenty in wins then i would pocket the twenty and play of my winnings. if i lost the twenty, was the end of the night entertainment.

[JonLP24]

5. He should get court ordered Gambling treatment

Good god. That is sad for someone to lose that much money. He needs to get treatment badly. Second note, I never understood how someone gets gambling debts. Don't you need the money to place the bet? How does one go over not having any money but still making bets?

[Earth Bound Misfit]

11. This is no ordinary gambler.

The Watanabe family owns Oriental Trading Co.

Oriental Trading Company is the nation's leading direct marketer of value-priced novelties, toys, and party supplies, and a leading direct marketer of home décor products. Recognized as one of the Top 50 Internet Retailers and one of the Top 50 Catalog Companies, Oriental Trading Company employs approximately 3,000 employees and offers more than 30,000 products to businesses, not-for-profit organizations, individuals, schools, churches and teachers.

The casino will extend a line of credit, called "markers", much like a bank does. How much credit extended depends on the individual's financial status, which the casinos base on info provided by the person seeking credit.

[Earth Bound Misfit]

16. Correction, formerly owned by the Watanabe family

From the wiki page:

The company was founded as a gift shop in 1932 in Omaha, Nebraska by Harry Watanabe. The company expanded to 17 shops in the Midwest. During World War II restrictions against imports from Japan the company shrank back to its Omaha base. Watanabe then bought a ceramic shop which made Kewpie dolls and other ceramic items.<2>

In 1954 it resumed its imports from Japan and was a major carnival supplier. In 1956 it launched its first catalog.

In 1977 Watanabe's son Terry Watanabe became president and its focus shifted from carnivals to supplying party goods for churches, schools, retailers, and individuals.

In 2000, Watanabe sold his entire stake in the company to Los Angeles-based private equity firm Brentwood Associates, and resigned as CEO and President. <1>

In 2002 Brentwood Associates entered into an agreement to expand the company.

In 2006 Carlyle Group:puke: bought majority interest in the company with Brentwood owning a reported 25 percent.<1>

[seabeyond]

14. i lived in reno in my 20's. the casino bosses were all the time giving me free booze

when i was sittin at the 21 tables. they told me they liked young, happy girls at the table. the other players had fun and was a draw, hence the free drinking.

i had it figured, wasnt a tough one. and i was the one responsible for the money i spent.

[Javaman]

17. ah those crazy addicts and their kooky excuses. nt