Terrance Watanabe Loses $200 Million In Vegas

05/21/2010 06:43 am ET | Updated May 25, 2011

Anyone who wants to claim the title of biggest loser will have to deal first with the legacy of businessman Terrance Watanabe.

In a lawsuit filed last year against Harrah's Entertainment, Watanabe's lawyers acknowledged that the Omaha, Neb., philanthropist had lost the astounding sum of $127 million. But now that his attorneys have examined casino records handed over in discovery, they say he lost far more: a staggering $204 million in a single year at two Harrah's casinos, the Rio and Caesars Palace.

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