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Terrance Watanabe Owes 15 Million in Gambling Debts

Nebraska high roller Terrance Watanabe (52) will experience tension and anxiety of a different kind this week when he appears in court on four criminal counts arising from his failure to honour 38 casino markers worth $14.75 million written between October 22 and December 11 in 2007. The markers were issued for amounts ranging from $200 000 to $875 000 at two Harrah's Entertainment Inc. properties in Las Vegas.
 
Watanabe is alleged to have signed the markers at Caesars Palace and the Rio All-Suites Hotel & Casino, and his lawyers will claim that he had intended to pay the markers, and is a man of character admired in his home state for his philanthropy and kindness.
 
In Nevada state law, casino markers carry the same obligations as bank cheques, and the authorities are additionally permitted to impose 10 percent recovery or collection costs from those who fail to meet their obligations.
 
Deputy Clark County District Attorney Bernie Zadrowski told media that Watanabe agreed before an arrest warrant was issued to appear before Las Vegas Justice of the Peace Bill Jansen this week. Watanabe will get a chance to post $1.5 million cash bail to remain out of jail pending a trial, Zadrowski said. No plea will be taken at his initial appearance.
 
Legal representatives for Watanabe said he will "absolutely" plead not guilty when his full trial commences. He could face probation or up to 16 years in prison if convicted of all charges.
 
Watanabe is the heir to the fortune of Harry Watanabe, founder of Oriental Trading Co. in Omaha, Nebraska who grew a small gift shop in 1932 to a large import wholesaler and direct marketer of toys, novelties and party supplies. Watanabe jnr sold the company in 2 000, subsequently developing a reputation as a generous benefactor to political campaigns and nonprofit organisations.
 
The case is one of the largest of its kind in Nevada, and will include a $1 475 050 claim by Clark County, representing a bad cheque processing and prosecution fee and a $50 surcharge.

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Gambling News :

Malta Gaming Authority's half-year 2016 report - There are 490 gaming license in issue and 257 gaming companies in operation....in the first six months of 2014, those figures were 414 and 271 respectively;

Macau ATM Transaction Limit Lowered - The Monetary Authority of Macau moved quickly Friday to quell market concern caused by a newspaper report late Thursday that it was about to slash ATM limits in half .

Vegas Mobile Casino Gets Live Dealer Games - Vegas Mobile Casino has partnered with Swedish online gambling game developer NetEnt, which has supplied a new live dealer offering that includes desktop Blackjack and desktop and mobile Roulette.

Cosmic Crystals SLot Launches - 1X2 Gaming's latest online slot titled Cosmic Crystals is a 5 reel, 50 pay-line game with a futuristic outer space feel, gems galore, and features that include a sticky Wild reel, re-triggering Free Spins, Scatters and a claimed 95 percent RTP.

Playtech Live launches dedicated live roulette room - Playtech's live dealer arm, Playtech Live has launched a dedicated live roulette room operating from a fully custom-built studio bursting with colorful Christmas decorations.

Australian Open To Dunp Gambling Ads - Court-side advertisements, which have been criticized as promoting gambling and thereby contributing indirectly to the specter of match-fixing, are to be discontinued in 2017 from the Australian Open tennis championships, Tennis Australia has confirmed.

Olympique Lyonnais In Sponsorship Deal With FDJ - The agreement allows FDJ to introduce its ParionsSport betting terminals in the Parc OL stadium, and the promotion by the club of its website of the same name

BaFin CrackDown on Spread Betting - The UK Financial Conduct Authority's crackdown on financial and stocks spread betting via contracts for difference has been followed by similar moves in Germany, where the financial regulator BaFin announced similar new restrictions Thursday.

How is the CDC Group Spending its Money - Questions are being asked about how the UK government's private equity arm, the CDC Group plc (formerly the Commonwealth Development Corporation) spends the billions it is allocated to alleviate international poverty, The Guardian newspaper reported Friday.

Voodoo Slot Released - The Prague-based online gambling games developer Endorphina is going against the trend of Christmassy-themed offerings at this time of the year, instead going for the popular horror genre in its new slot Voodoo, released to operators today (Friday).

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