High rolling Australian gambler takes casino to court after losing £1billion in just 14 months

Australian Harry Kakavas lost almost $1.5billion at Melbourne Crown Casino
The real-estate salesmen made a fortune selling houses on the Gold Coast
He is now attempting to recoup a fraction of his loses at high court
Claims casino knew he had a serious problem but lured him back anyway


Read more: http://www.dailymail.co.uk/news/arti...#ixzz2PdtjZ2iN

should have set a 500 million stop loss

Should Refund. Only fair.

THIS article from May 29, 2009 says he was suing "...Crown Casino for the $20.5 million that he lost in a 14-month binge at Baccarat between June 2005 and August 2006, also to include damages incurred...."

14 months.. but only 20.5 million? That can't be a coincidence. Something funny going on.. maybe like that San Diego mayor who gambled away "a billion dollars".

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Edit.. I see the OP link says "An earlier attempt by Mr Kakavas to recover losses of $20.5 million from the casino at Victoria's Supreme Court failed..

I still wonder why he sued for only that smaller amount the first time around.

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Edit #2 .. another article from 2009.. "..Mr Kakavas had previously excluded himself from the casino and, after being jailed for fraud, he was later banned for a dispute with another VIP.

they should give him a billion dollars in food vouchers.

A native of my hometown (and an acquaintance of my parents, in fact) sued Harvey's Wagon Wheel, a Reno casino, claiming that its owner Harrah's was negligent as a casino because it "took advantage of her incompetence at gambling." Do a quick Google search for the name Toshi Van Blitter if you want to know more*. Pretty comical.

To JoeSchoe, in the Van Blitter case, her suit was for substantially smaller than her supposed millions in losses. My guess is that she was trying to win one case, which could then begin an avalanche of other cases (against other casinos) in her attempt to recoup her losses. So it might be the same strategy.

*Never mind, here's the 1985 AP story to save yourself the digging:
http://www.apnewsarchive.com/1985/Wo...f8c450c31a23c9

Double or nothing on black.

why don't every private/high stakes room just make every high roller playing sign a contract or something saying they can't sue no matter how big their losses are. like make sure it clearly states you can only sue if instances of cheating are found

Interesting..
Then I'm wondering if anyone has ever been successful suing to recoup gambling losses.

Search. Find.

"Attempts periodically are made throughout the United States by an individual to recoup gaming losses. I'm not aware of any specific cases with success. Lots of very creative attempts have been made but generally this stuff is not successful," Stocker said.

Chainsaw would cream his tighty whities over this.

tidy*. how does tighty make sense?

Nice freeroll attempt

His ADT should be through the roof.

This thread should be retitled, "What would Eric Lindgren do with a billion dollars?"

What makes you think hes a degen?

He is trying to martingale his legal losses.

Because they're tight...

holy ****, i hope that was an attempt at a level

Not sure if serious?

looks like that article is way off and the 1.5 billion is his total bets all together.
i would think it would be pretty hard to lose 165 million in 5.5 hours at 300k per hand. that would be like losing over a hundred hands per hour and never winning. how fast do they deal baccarat?

qft

He should send Albert Brooks in to talk to the management and tell them what a great public relations move it would be to give the money back.

but how much did he win

the only thing more pathetic than losing your fortune at a casino is suing said casino for said fortune

lol how did you lose your fortune, and why was it less pathetic than the way this guy did

oh wait