When I first read about Terrance Watanabe I thought I was going to read about a guy who holds the world record for the most money ever lost to casinos. The guy has lost about $200M to the casinos. Specifically he lost all the money to the Rio and Caesars Palace in Las Vegas.
I am trying to get a grip around those numbers. Oh, and in case you think this was over several years, then guess again. The guy lost it all in one year. Yep. Almost a million dollars a day he was losing to casinos. God, they must have a good buffet at those places to be worth a million bucks a day.
The reason all of this has come to light is because Terrance paid the casinos everything he owed, except for about $14M. The casinos say he bounced some checks for that amount so they filed criminal charges against the guy.
Watanabe says the casino offered to offset his losses by 30% so he figures they owe him money since 30% of 200M is about $60M.
He also said they kept him in virtual lockdown, drunk and hooked on painkillers during the year. He doesn't want his money back. He just wants them to stop pressing charges for the remaining $14M.
Here is what I think. I think the guy lost a pile of money. The casinos just look like a-holes for wanting more. It isn't like the guy got $200M worth of services from them. Walk away. Give the guy a free shrimp cocktail. Thank him for giving you $186M and then walk away.