Las Vegas player loses $127 million in year-long gambling binge.
It has been reported that a punter in Las Vegas has lost nearly US$127 million over the course of a year at the Caesars Palace and Rio casinos. The unlucky player, Terrance Watanabe, has lost most of his personal net wealth as a result of what is believed to be the longest losing streak in the history of Las Vegas.
Watanabe, 52 years old, built his fortune from the family party-favour import business which he inherited from his father.
Watanabe is now alleging in a civil suit against the casino company involved that it shares some responsibility for his loses on the basis that casino staff intentionally served him alcohol and pain medication so that he would continue gambling.
As a result of these accusations, a separate investigation has been launched by the Nevada's Gaming Control Board to determine whether the casino companies breached gambling regulations. The casinos' rules and state law provide guests who are clearly intoxicated are not permitted to gamble.
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