At one point, the casino raised his credit to $17 million, according to court documents. The 52-year-old toy magnate-turned-philanthropist has fired back with a lawsuit against the two casinos, alleging he was regularly plied with drugs and alcohol before being turned loose to run rampant on the casino floor. Casino players are just as interesting as the games they play: craps, roulette, baccarat, or poker and this is the story of Terrance Watanabe, a gambler blew more than $100 million and was later labelled as the biggest of the biggest whales. In 1977, Terry Watanabe became president and part owner of Oriental Trading Company shifting the focus from carnivals to supplying party goods for churches, schools, retailers, and individuals. "He was considered a 'house' player because slots and roulette are house games -- they have terrible odds for the player," says Mr. Kunder. The company. Rather, though, he ended up losing a lot. At the casino tables of Las Vegas, however, he was quite the opposite, racking up 77million of debts in an astonishing year-long losing streak. In 2023, Terrance Watanabe's net worth was estimated to be $150 Million. Murdaugh is heckled as he leaves court, Alex Murdaugh unanimously found GUILTY of murder of wife and son, Ukraine soldiers shoot down enemy drones with drones of their own, Missing hiker buried under snow forces arm out to wave to helicopter, Insane moment river of rocks falls onto Malibu Canyon in CA, Fleet-footed cop chases an offender riding a scooter, Two Russian tanks annihilated with bombs by Ukrainian armed forces, Isabel Oakeshott clashes with Nick Robinson over Hancock texts. It also benefitted the two casinos' parent company, Harrah's Entertainment Inc., which derived about 5.6% of its Las Vegas gambling revenue from Mr. Watanabe that year. Or so the rumor goes. He is definitely one of the most famous gamblers, and he lost it all or most of it. He managed to turn a fortune he made from selling his trading company into over $120 million in losses at Las Vegas casinos in one year. Thats why he spent that embarrassing period playing minor league baseball. The company generated around 5.6% of its gambling revenue from Watanabe that year. Have a response on your own site? He has no siblings, according to our records. I dont care about money, so I have no fear. But the way it began was with a destitute Archie spotting a familiar face at The Mirageand requesting the $10,000 loan that would set the wheels of fortune in motion. https://www.gofundme.com/terry-watanabe-my-story At 58 years old, Terrance Watanabe height not available right now. We have estimated Terrance Watanabes net worth, money, salary, income, and assets. Some of you may be saying, so what. St Anthony Foundation. Nevada's Gaming Control Board has opened a separate investigation into whether Harrah's violated gambling regulations, based on allegations made by Mr. Watanabe. However, he was also in bed with the Sinola drug cartel. One reason Mr. Watanabe was seen as so valuable to Harrah's, say Messrs. Deleon and Kunder, two of his handlers, is that he gravitated toward games with low odds, including roulette and slots. When he played blackjack, he would often play three hands at the same time, each with a $50,000 limit. Terrance Watanabe is a Japanese American businessman and gambler, most famed for losing more than $120 million in casinos over the course of one year. As it turns out, a lot of people who came into money, or made a fortune one way or another, have felt inclined to gamble rather foolhardily at one time or another. Despite his past mistakes, Michael has paid for his sins and hes back in the public eye. In 2007, Terry Watanabe, a wealthy businessman from Omaha, Neb., lost more than $200 million gambling, mainly at Caesars Palace and the Rio. Today, Watanabe has covered almost his entire debt except for $15 million for which he faced four felony charges back in 2009 and again in 2020. He managed to lose his $40 million in a period of three weeks, quickly going from one of the most successful gamblers to one of the most tragically unfortunate. She now believes a slow-growing brain tumor, diagnosed in 2011, could have contributed to the switch. His trial is set for July. He got in to trouble when he accrued massive amounts of debt with Harrahs casino, which was bought out by Caesars Entertainment, that he did not pay back. In 2007, he was reported to Nebraska-born businessman Terrance Watanabe comes with an estimated net well worth of $ million. His witnesses are said to include a Caesars security guard who 'does not recall ever seeing Mr Watanabe in a sober state'. Work was always part of her life. It's a dubious feat that immortalized him as one of. Michael Jordan was also a notorious gambler, and its even rumored that his first retirement was actually a secret suspension from the NBA. Over the course of the next two years, Archie was playing poker intensely, amassing the fantastic $40 million in the process. My Dad was a London Taxi Driver, who you met around 20 years ago. Foundation Media Partners; Terry Watanabe. Home Watanabe was charged with the theft of more than $14.5 million in losses the casinos say he failed to repay. Chinese businessman Zhenli Ye Gon moved from Shanghai to Mexico in 1996 to work in the import/export business, and by 2002 he was running a chemical import company called Unimed Pharm Chem. 1962. This is the quote from the GoFundMe campaign: Ive accepted my situation and I do not pity myself. Although Mr. Watanabe has paid nearly $112 million to Harrah's, he has refused to pay the rest. He became a philanthropist, but subsequently lost most of his fortune gambling in Las Vegas. He is free on a $1.5 million bail, the Daily Mail reports, and faces 16 years in jail if convicted. While he won an impressive $35 million, he lost and even more staggering $90 million, working out to a total loss of $55 million. Terrance Watanabe is an American business man who inherited the Oriental Trading Company, an establishment that supplies party goods, arts and crafts, novelties, and school supplies, from his father Harry Watanabe. Terrance Watanabe - $22,500 in Political Contributions for 2002, Campaign Finance, Money, American politics, American political campaign contributions, presidential campaign contributions [5][6], Caesars Entertainment Corporation was fined $225,000 by the New Jersey Gaming Commission for allowing Watanabe to continue gambling in a highly intoxicated state, though Watanabe's losses occurred in Las Vegas. Hyperlinks will be created for URLs automatically. He is currently unmarried. While he says hes still okay financially, he does admit that he cant continue to lose at this pace. The presiding judge explained that Kakavas had shown rational decision making and was able to act in his own best interest,including the plaintiffs decision to refrain from gambling from time to time, the judges ruling stated. His antics earned him a personal bartender at both Caesars and the Rio, the Daily Mail reports, and he earned notoriety handing out stacks of hundred-dollar bills -- sometimes up to $20,000 -- to casino personnel as tips. Between 2004 and 2007, Zhenli gambled away over $125 million in cash. It was those skills that helped Mr. Watanabe grow a modest toy business into a catalog empire that raked in $300 million in revenue by the time of its sale in 2000, Mr. Thomas says. 2. But Ive also went to Vegas and lost a million probably three times as much.. Terry Watanabe Retired at Oriental trading co inc Naples, FL. Today we present to you the gamblers who went from riches to rags, or at least lost a substantial chunk of their fortune gambling. 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 (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. Mr. Watanabe, who now lives in the Bay Area, stands near the entrance to Stanford University on Dec. 3, 2009. Who owns Nick the Greek? Most jackpot winners know how to play responsibly, as well as how to intelligently re-invest their winnings. Today, Mr. Watanabe and Harrah's are fighting over another issue: whether the casino company bears some of the responsibility for his losses. Reverend Monsignor Terrence "Terry" Watanabe was born in Wailuku to Alan Watanabe and Eleanor Rocha. So far as famous gamblers who lost it allgo, though, Michael Vick is definitely one. Zhenli Ye Gon was extradited back to Mexico in 2016 to stand trial for producing and trafficking illegal drugs. https://www.celebritynetworth.com/articles/entertainment-articles/meet-meth-kingpin-blew-125-million-gambling-vegas-casinos/ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Casino.org is the worlds leading independent online gaming authority, providing trusted online casino He is accusing Caesars Palace and the Rio of providing him with a . We use cookies to optimize your experience. Fact: Mother Jones was founded as a nonprofit in 1976 because we knew corporations and billionaires wouldn't fund the type of hard-hitting journalism we set out to do.. Today, reader support makes . Welcome To Hell: Alberta Passes Carbon Tax, Who's Next? Well, who better to explain that than the man himself. Terrance Watanabe sold his business to gamble. Vegas associates reportedly say he brought his bad game to the blackjack table as well, where he'd regularly sit at a $50,000-limit table playing three hands simultaneously -- and badly. Archie would bargain with the casino to allow him to bet way above the limit. oide. Copyright 2009-2016 DailyBail. Vick was running an illegal interstate dogfighting ring, known as the Bad Newz Kennels, and he himself provided most of the money for the gambling side of the operation. With a track record like that I bet this guy would probably be Obama's next pic for Treasury Secretary. By Terrance Watanabe (born 1957) 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.Terrance was known for the large amounts of money he wagered at Las Vegas casinos.. Business background When we discuss the biggest gambling losers in history there is always a bit of a rivalry. Terrance Watanabe Terrance "Terry" Watanabe, right, his attorneys, David Chesnoff, background center, and Richard Schonfeld appear in court at the Clark County Regional Justice Center in Las Vegas.