Gotta Love Harrah's (or what do you get for losing $175 million)

Gotta Love Harrah's (or what do you get for losing $175 million) Talk about two kinds of people who deserve each other...Terence Watanabe loses $189 million or so to Harrah's. And what does Harrah's comp him with in return? That's right, a lawsuit, four felony charges, and a possible 28 years in jail. What? No free buffet? Double or nothing anybody? Hahahahaha. Yes, he lost $189 or so million, but he only paid $100 and something million, and apparently he owes about $15 million more to Gary Loveman's Harrahs Corp. One article states: [I][B]In April, the Clark County District Attorney's office charged Mr. Watanabe with four felony counts in district court for intent to defraud and steal from Harrah's, stemming from $14.7 million that the casino says it extended to him as credit, and that he lost. Although Mr. Watanabe has paid nearly $112 million to Harrah's, he has refused to pay the rest. 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. If convicted, Mr. Watanabe faces up to 28 years in prison. Jan Jones, Harrah's senior vice president for communications and government relations, says Mr. Watanabe's civil suit and his defense against the criminal charges are attempts to get out of paying a debt and to avoid accepting responsibility for his own actions. "Mr. Watanabe is a criminal defendant who faces imprisonment," Ms. Jones says. "All of his statements need to be seen in that light."[/B][/I] Those damn bean-counters will get you every time. These two articles spell it out, plus there's a blurb in the current LVA: [URL="https://online.wsj.com/article/SB125996714714577317.html"]https://online.wsj.com/article/SB125996714714577317.html[/URL] [URL="https://www.nydailynews.com/money/2009/12/08/2009-12-08_gambler_terrance_watanabe_loses_125m_in_single_year_at_las_vegas_tables_faces_16.html"]https://www.nydailynews.com/money/2009/12/08/2009-12-08_gambler_terrance_watanabe_loses_125m_in_single_year_at_las_vegas_tables_faces_16.html[/URL]

at what point does a casino operator have to take some responsability, clearly they kept him in a stupper. Where was this guys family? Isn't a 189 million enouph for harrahs, I hope every whale on the strip never sets foot inside a harrahs run casino.

I call BS. What happened to taking responsibilty for ones actions? I am sure they tied him down and forced booze and prescription drugs down his throat. GMAFB. Yea the booze, women, and drugs flow freely in Las Vegas, but its up to the individual if they partake. Just another stiff job who doesn't honor his gambling debts.

I think the point of the post was the filing of criminal FELONY charges which could subject him to 28 years in jail (of course that is the maximum and the reality is likely FAR less). I agree with Teach that he should be responisble for his debts and actions but at some point they should cut someone a bit of a break. I clearly dont know the facts such as whether a discount was given etc but for someone to lose THAT amount of money and then be subjected to IMPRISONMENT over the small remainder seems unduly harsh. Seems like the civil remedy is MUCH fairer. Seize assets etc.

the prescription drugs accusation will be interesting, were they in his name or did harrahs provide them to him.

[QUOTE=EdTeach;23004]I call BS. What happened to taking responsibilty for ones actions? I am sure they tied him down and forced booze and prescription drugs down his throat. GMAFB. Yea the booze, women, and drugs flow freely in Las Vegas, but its up to the individual if they partake. Just another stiff job who doesn't honor his gambling debts.[/QUOTE] So the casino has no responsibility to stop serving impaired people? In Illinois, bartenders can and do get ticketed and can be sued for over serving patrons. I'd think if any lawsuit landed in federal court over this issue the casino's would lose and lose ugly.

You can not enter into a contract when inebriated. Federal debt laws do not allow for jail time. It's about time someone takes NV's market laws up to federal court and gets them thrown out. There is no way extended credit is a check.

[QUOTE=bkeiller;23006]I think the point of the post was the filing of criminal FELONY charges which could subject him to 28 years in jail (of course that is the maximum and the reality is likely FAR less). I agree with Teach that he should be responisble for his debts and actions but at some point they should cut someone a bit of a break. I clearly dont know the facts such as whether a discount was given etc but for someone to lose THAT amount of money and then be subjected to IMPRISONMENT over the small remainder seems unduly harsh. Seems like the civil remedy is MUCH fairer. Seize assets etc.[/QUOTE] I just thought the whole situation was hilarious. It's not my money. Two assholes at war with each other. IMO, there's blame to go around in this one. Like I side at the top, they deserve each other. I hope they make each other permanently miserable. Hahahaha.

Solution- don't get inebriated. Like I said, its not like they tied him down and force booze and drugs down his throat.

Extended credit the way they structure it in NV casinos via a credit line is the same as writing a check. You actually write a check at the table before you get the chips. We are talking about approx 10% of his total losses that is in question. If the guy had any kind of brain he'd have at least that much in a rebate deal worked out in advance. All the whales get that if they have any experience pitting one casino vs another.