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Part 7: Mikki Mase on Gilbert Arenas Arrested for Gambling: I Knew About Those Games
Part 1: Mikki Mase Doesn't Think Terry Rozier's Illegal Betting Charge Will Stick
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Terrance Watanabe, heir to the Oriental Trading Company fortune, famously lost his entire $350 million gambling fortune in Las Vegas—primarily on slot machines. In a recent interview, Mikki Mase expressed shock and sympathy over the staggering losses, emphasizing that slot machines, unlike skill-based games, are purely chance with the worst odds in the casino. Watanabe’s gambling escalated massively between 2005 and 2007, wagering over $825 million, but ultimately losing everything. Despite Steve Wynn banning him from Wynn casinos due to his addiction and drug use, Caesars Palace welcomed him, where he contributed up to 20% of the casino's revenue. Mase highlighted the severity of Watanabe’s mental health struggle, noting the relentless nature of his losses on games with fixed negative odds. The casino was later fined $225,000 after a gaming commission investigation for letting an intoxicated Watanabe continue playing. Watanabe now reportedly lives on Social Security, a stark fall from immense wealth.
