Gaming Loyalty Programs - 'Whale' Loses $112M, Sues Harrah's

Story (http://www.onlinepoker.net/poker-news/casino-news/mega-gambler-terry-watanabe-loses-112-million-casino-sues-caesars-palace-negligence/2926) Gaming Complaint (PDF) (http://media.lasvegassun.com/media/pdfs/2009/11/19/civil_complaint.pdf)

Watanabe says he moved into a Harrah’s owned property after the company offered him some incredible complimentary incentives to encourage him to gamble including a three bedroom palazzo, 15% rakeback on monthly table losses in excess of $500,000, and $3 million in credit with a generous 60 day wait before being called in.

By 2007, Watanabe said he spent “nearly all of his time either on the casino floor or in his hotel room at Caesars Palace,” but his “losses escalated astronomically in the fall of 2007, just as his level of intoxication was reaching its most extreme.”

The lawsuit claims, “Harrah’s responded not only by increasing his credit limit and providing him with a non-stop supply of alcohol and prescription pain killers, but also by increasing his table limits beyond those available to other patrons.”

Wirelessly posted (goingaway's phone: BlackBerry8900/4.6.1.231 Profile/MIDP-2.0 Configuration/CLDC-1.1 VendorID/100)

If this goes anywhere, then there is no personal accountability left in this world :rolleyes:

I'm not one for these types of lawsuits and ignoring personal responsibility, but the biggest problem I see for Harrah's in the claims are about the prescription pain killers. On the flipside, I have a difficult time understanding how a company as large as Harrah's could procure the copious amounts of prescription pain killers that are claimed without raising flags along the line somewhere (it seems like the bigger the company, the harder it is to get away with things like procuring thousands of dollars in narcotics).

I'm not one for these types of lawsuits and ignoring personal responsibility, but the biggest problem I see for Harrah's in the claims are about the prescription pain killers. On the flipside, I have a difficult time understanding how a company as large as Harrah's could procure the copious amounts of prescription pain killers that are claimed without raising flags along the line somewhere (it seems like the bigger the company, the harder it is to get away with things like procuring thousands of dollars in narcotics).

All you would need is an employee or a friend that is a doctor that doesn't mind writing the scripts. Then you can have however many people needed fill the scripts.

I must have seen him before he got so wasted... :-)

Why would you gamble at Rio? there are much nicer places to gamble in Las Vegas.

Why would you gamble at Rio? there are much nicer places to gamble in Las Vegas.

Rio hosts the World Series of Poker.

Mostly I saw Watanabe at Caesar's. He used to gamble $90,000-180,000/hand at roulette. He would hold these notepad-like-pads of $100 bills, and pull off $100s throwing them in the air for tips.

I do not understand how someone smart enough to become incredibly wealthy would be dumb enough to gamble.

When the house has even a slim percentage advantage, and you are making hundreds or thousands of repeated wagers, the probability that you will lose money is nearly 100%, and the more wagers you make, the closer to 100% that probability becomes.

I do not understand how someone smart enough to become incredibly wealthy would be dumb enough to gamble.

Watanabe's money was from his Dad. Many 2nd generation wealthy are living on other people's money, and don't know how to generate it on their own.

Why would you gamble at Rio? there are much nicer places to gamble in Las Vegas.

The Palazzo Suites/Villas @ RIO are quite nice (some are close to 9,000 sq/ft). And, the high limit area isn't horrible. In the day (i.e. late 90's) the RIO was a high stakes house. That changed quite a bit when Harrah's took over.

The Rio cocktail waitresses always have me doing a http://rolleye.com/closerlook.jpg

The Rio cocktail waitresses always have me doing a http://rolleye.com/closerlook.jpg

the female or male bevertainers? :eek::D ;) I think RIO is one of two (or three) properties that have male cocktail servers.

The Palazzo Suites/Villas @ RIO are quite nice (some are close to 9,000 sq/ft). And, the high limit area isn't horrible. In the day (i.e. late 90's) the RIO was a high stakes house. That changed quite a bit when Harrah's took over.

From comments I've seen on the internet, a lot of things changed (:td:) when Harrahs took over (not just at the Rio:p).

And to think he could have made 112 of us millionaires had he given it away to 112 FlyerTalkers......:o

More seriously, both Harrah's and the Watanabe should be ordered to donate a good chunk to some charities...

Why the "whale" Is he fat?

Why the "whale" Is he fat?it's the term casinos use for the ultra ultra ultra high rollers (i.e the amount he/she gambles is as big as a whale) and is generally in the range of $250,000-$1,000,000 and up per trip

More seriously, both Harrah's and the Watanabe should be ordered to donate a good chunk to some charities...

Why? :confused:

Why? :confused:

Yeah don't think Harrahs shareholders would like that idea. I also agree with 2nd post on accountability.

I've had some bad trips at the casino and they've offered extravagance to get me back out there, but by that time the bad taste is already there and lessons have been learned. I guess until the next year :)