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Part 1: Terry Watanabe on Becoming CEO of His Dad's Company at 20, Selling the Business for $400M
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Terry Watanabe, once a high-profile gambler in Las Vegas, opened up about his battle with compulsive gambling and alcoholism that led to a staggering $127 million loss in just one year. Watanabe revealed that his gambling journey began modestly at Iowa’s Harris Casino before escalating at the Wynn casino around 2006. During this period, his gambling was fueled by heavy drinking, a struggle he acknowledged had roots dating back to his early 20s.
His addiction caught the attention of Steve Wynn himself, who confronted Watanabe about his lack of control and ultimately banned him from the Wynn casino. Following this, Watanabe continued his gambling spree at Caesars Palace, focusing mainly on slot machines, which contributed to one of the biggest losing streaks in Las Vegas history. Reflecting on his experience, Watanabe described his betting as a way to have fun, despite the heavy personal and financial toll.
