Gaming Loyalty Programs - 'Whale' Sues Casino For $35M, Loses, Must Pay $1M

Story (http://www.theage.com.au/national/highrolling-gambler-harry-kakavas-loses-35-million-case-against-crown-20091208-kfwr.html)

High-rolling gambler Harry Kakavas has lost a $35 million case against Crown and - to add insult to injury - must repay the casinoat least $1 million, a judge ruled today.

Mr Kakavas gambled almost $1.5 billion on baccarat tables at Crown between June 2005 and August 2006. At times, he would bet up to $300,000 a hand and, on one weekend, gambled with $243 million.

Supreme Court Justice David Harper today said he accepted that Mr Kakavas was once a pathological gambler, but he had presented himself to the casino as in control of his addiction.

1.5 Billion.....WOW.

He lost $1.5 billion and they wouldn't comp him the $1 million...makes me think he was out of money and they knew he wouldn't be back!!

I doubt that he lost $1.5B. Rather, that was how much he bet, but of course he would have won a fair amount of the time. His losses were probably about 1-2% of his total wagers. Still, not an insignificant amount.

Good, I'm glad. He deserved what he got.

Wonder if he is still gambling? Where?

Makes my $50 bets look like a peso. O to be rich!