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Harrah's Settling Suits Over Gambling Debt
LAS VEGAS, NEVADA --
Harrah's Entertainment has agreed to enter into binding arbitration with a disgruntled gambler who lost over a hundred million dollars to the casino operating company. Terrence Watanabe says the casino illegally lured him into drinking and then gambling once intoxicated, while casino authorities say Watanabe still owes almost $15 million in unpaid gambling markers.
Watanabe, whose family fortune derived from the Oriental Trading Company of Omaha, Nebraska, spent almost all of 2007 living and gambling at Caesar's Palace, A Harrah's property. During his stay, Watanabe lost over $127 million, almost ten percent of Harrah's entire profit for the year.
But once he left Las Vegas, Watanabe refused to settle his remaining vouchers, asserting that casino employees encouraged him to drink and take prescription drugs, then allowed him to gambnle for hours while under the influence. He also alleges Harrah's had promised him special gaming deals that they revoked without notice while he was playing.
The case has resulted in an investigation by the Nevada Gaming Control Board into the alcohol practices at Harrah's casinos. Gaming rules say players who are obviously intoxicated must be removed from the gambling areas.
As a part of the arbitration process, the Clark County District Attorney agreed to drop criminal charges against Watanabe. Unpaid gambling markers are considered fraudulent checks in Nevada, and bettors are often pushed into paying back sums plus a ten percent collection fee to avoid prosecution.
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| Posted by jasmine on 07/16/2011 01:12:21 PM EST |
| wht is this ?? |
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