Terry Watanabe, a big wheel in the Asian party favor import business, lost nearly $127 million gambling in Vegas casinos in 2007. But he gave fantastic tips. Call it even?
The WSJ wins "What The Hey! Story of the Day" today for its rundown of Watanabe's gambling odyssey: He ran his dad's import business for decades till he was good and bored and rich, then went on an incredible degenerate gambling run that culminated in him (a clear gambling addict and probably alcoholic) blowing up to $5 million a day at Caesar's and bankrolling a good part of Harrah's Vegas revenue for the year. But oh, the tips!
According to court documents, Mr. Watanabe says he regularly handed out to Caesars employees bundles of $100 bills that could total as much as $20,000.
Al Deleon and Kristian Kunder, two of Mr. Watanabe's personal handlers at Caesars, say he had thousands of Tiffany gift boxes filled with $50 gift cards or $100 gift coins that he would hand out to bartenders, nightclub operators, security guards and others. They say he once told a security guard to go to a supermarket and buy every cut of steak, and then proceeded to hand them out to employees.
[Read it all at the WSJ. Pic: AP]