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Another Super Wealthy Gambling Addict Blows Through Fortune: Report

Businessman Said To Have Lost Nearly $1.5 Billion At Crown Casino


The Sydney Morning Herald reported that an obscenely wealthy gambling addict lost nearly $1.5 billion over 14 months at the Crown Casino in Melbourne and is now trying to recoup some of his staggering losses via the legal system.

Via The Sydney Morning Herald:

Harry Kakavas, described in the High Court on Thursday as Australia’s “highest of high rollers”, claims Crown knew he was a pathological gambler but lured him back anyway to take advantage of his “special disability”. The court heard that between June 2005 and August 2006, Mr Kakavas spent $1.479 billion at Crown, winning and losing vast sums, often on hands of baccarat that took just seconds to play. During one “frenetic” stint in May 2006, Mr Kakavas spent a staggering $164 million in just five and a half hours.

Think gambling binges like this are unheard of? They actually are not.

A wealthy former San Diego mayor not long ago fell into hot water for her multimillion-dollar gambling problem, and then there’s the story of Terrance Watanabe, widely consider the biggest whale Las Vegas has ever seen. His drama had a development just recently.

Image via Sydney Morning Herald/Erin Jonasson.

Tags: Gambling,   Casinos


over 8 years ago

lol not the first time he's tried to say a casino has taken adavantage of him -

This guy has a problem.


over 8 years ago

I would say this guy "had" a problem. Now he is broke..... problem solved.