Terry Watanabe

Terry Watanabe has filed a law suit against Harrah’s Entertainment Inc.

Millionaire Terrance Terry Watanabe has filed a law suit against Harrah’s Entertainment Inc. on Thursday November, 19. The complaint filed against Harrah’s state that the company and its employees had a secret intentions to ’siphon off his fortunes’. And why did he file such a complaint? The story is long and has a complex history.

Terry Watanabe believes that Harrah’s and its employees exploited his gambling addiction to drain off his wealth from him. The series of incidents, based upon which Watanabe filed the law suit, dates back to 2007. Before that he owned Oriental Trading Co. from his father. Terry sold the company at $300 million in 2000. Terry, who was gambling addict, used to gamble at Wynn Casinos in Las Vegas. He lost $21 million in gambling at Wynn casino tables. The Wynn owners, Steve Wynn, called him and asked him to leave the Wynn Casinos. The news of Terry Watanabe spread in the Sin City like fire. That’s when Terry’s connection with Harrah’s developed.

Harrah’s marketing executive met with Terry Watanabe and made an agreement with him. According to the agreement, Harrah’s would give him three bedroom palazzo, $3 million of credit line, tickets to Rolling Stones concerts, and 15% cash back on monthly gambling losses of $500,000 or above. Watanabe agreed with the terms and started gambling at the gambling tables of Rio and Caesar Palace, properties of Harrah’s Entertainment.

Terry Watanabe was addicted to gambling and his alcohol consumption was also increasing every day. He was mentally and physically becoming incapable of playing the games but the executives at the Casinos tailored the table rules for him to make him continue playing. Watanabe accuses Harrah’s that it had a ’secret intention’ to draw my fortune and made me played the game even when he was physically and mentally incapable. Watanabe says that some of the employees were responsible only for making me play the game even when he was falling asleep at the table. Terry Watanabe lost $112 million at the Harrah’s casinos.