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Part 3: Terry Watanabe on His Gambling Being 20% of Caesars Palace's Revenue, Spent $5M in 1 Day
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, infamous for spending nearly $800 million at Harrah’s casinos between 2005 and 2007, recently revealed intriguing details in an exclusive interview. Despite his massive gambling losses, Harrah’s didn’t cut him off; instead, they created a unique “chairman” status just for him, offering lavish perks like front-row Rolling Stones tickets, $500,000 in gift store credit, and personal bartenders. Remarkably, Watanabe admits he wasn’t skilled at games like blackjack and mainly played for fun, often gambling for up to 24 hours straight. He also disclosed struggles with substance abuse during this period and came out as gay, sharing that his lifestyle included gay parties and generous gestures towards partners.
