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Part 2: Terry Watanabe on Ban From Wynn for Compulsive Gambling, Losing $127M in 1 Year
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, a legendary high-stakes gambler, once accounted for an astonishing 20% of Caesars Palace's gambling revenue. During his peak, Harrah’s Entertainment (Caesars’ parent company) revealed that nearly 6% of its total gambling revenue came from Watanabe alone. Known for both his massive bets and generosity, he frequently handed out huge tips—sometimes up to $50,000 at once—to casino staff and slot machine attendants.
Watanabe’s gambling sessions were jaw-dropping. On one notable day, he reportedly spent $5 million, split between slots and blackjack, with average daily betting reaching around $2.25 million. His biggest win on the slots was a staggering $2 million on the Cleopatra machine, which he hit twice in just two days. Despite the randomness of slot machines, Watanabe consistently maxed bets, creating a legendary presence on the casino floor and leaving a lasting impact on Las Vegas gambling history.
