Terrance Watanabe was well-known for making huge bets in Las Vegas gambling establishments.

Harry Watanabe started Oriental Trading Company, a direct retailer of low-cost party products, arts and crafts materials, toys and novelty items, and school supplies, which Terrance Watanabe, an American businessman and high roller, inherited.

When Terrance Watanabe took over as president and a co-owner of Oriental Trading Company in 1977, the company’s primary focus shifted from carnivals to providing party supplies to merchants, individuals, churches, and schools.

Watanabe gave up his positions as CEO and President in 2000 and sold the whole company to the Los Angeles-based private equity firm Brentwood Associates.

He turned become a philanthropist but ultimately squandered the most of his wealth while gambling in Las Vegas.

Watanabe gained notoriety for his extravagant gambling habits after selling his business.

He reportedly spent $825 million on wagers in 2007, but lost $127 million at Caesar’s Palace and The Rio in Las Vegas.

Due to his problem gambling, he was expelled from Wynn Las Vegas. According to estimates, Watanabe lost almost $204 million.

Where does Terrance Watanabe live now after selling his $4.5m Omaha mansion?

Watanabe has since stayed out of the media radar.

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