I noticed in the Wizards BJ survey a table at Caesars listed as having s $5k min bet ($50kmax). Has anyone observed the play on this table? Does it get many players or does it sit largely empty?
So Wantanabe lost around $127M in 2007. Assuming he played BJ and other low HA games, wonder how much he actually wagered over those 12 months. One would think it would have to have been well over $1B.
You may be right. According to the WSJ article he played high HA games likes Slots and Roulette heavily, and when he did play BJ he played so poorly that he made it a high HA game.
The last I had read was he was supposed to go to trial this summer. That was back in December. There was a long article in the WSJ.
When a casino as large as Harrahs/Caesars for example, begins to act in a predatory way towards gamblers, the gaming commission can no longer seriously threaten to suspend or revoke their gaming licence. Gaming then has to protect the casino's interests or too many people lose their jobs. Consequently we see patrons like the blackjack players having their civil rights violated.
Players like Terrance Watanabe also fall prey to management. In the past, the casino would not have tried to collect the remaining ten percent or less that he owes by trying to throw the guy in jail, and it certainly wouldn't have allowed the story to make it into the news. Gaming would also have acted to suspend their gaming license over the documented stories of drug and alcohol abuse. Even Steve Wynn saw a problem with the guy and banned him before he could self destruct, but not Harrahs. Caesars Palace welcomed him with open arms.
When a casino's bonds become junk bonds, then the entire gaming enviroment in such a casino becomes a program to fleece players out of more money. Not intentionally at first, but as the direct result of upper management putting pressure on individual casinos and their managers to meet unrealistic goals. When this begins to happen, players should just stay away.
Over the next couple of years, I'm sure casinos owned by Harrahs will see a large part of their "Seven Star Players" jump ship to the Wynn and elsewhere because of the casino's junk bond status. Afterall, if we don't want to buy their bonds, then why on earth should we to trust them with our money while we gamble with markers in their casinos. (I don't think the free cruises are going to help much.) Besides, we all get skiddish when we hear of the patron abuse stories in the casino in the LV Sun, from other players, and now from the dealers that work there - since they've become unionized.
Just my ten cents,