Foundation Media Partners Secures Book, Film & Doc Rights To Story Of Las Vegas’ Biggest High Roller Terry Watanabe

deadline.com:

EXCLUSIVE: Foundation Media Partners has secured exclusive book, film and documentary rights to the life story of Terry Watanabe, the notorious gambling addict who made history as Las Vegas’ biggest ever whale, losing over $200 million in a single year after gambling an unprecedented $825 million.While it’s as yet unclear what exactly will come from the deal, Foundation Media plans to adapt the cautionary tale into a feature film, documentary and/or book, while collaborating with Watanabe himself.

It will be the first time the legendary whale speaks out on his experience since settling a lawsuit with an undisclosed casino group in 2010, with no official adaptation of his story having previously been announced.Watanabe’s downfall is perhaps the most epic and pitiful in Las Vegas gambling history.

The Omaha native with a keen eye for marketing and selecting merchandise built his massive fortune after acquiring his father’s humble trade business, Oriental Trading Co., and growing it into an empire raking in $300 million in revenue.

He sold the company and retired as CEO in 2000 to focus on philanthropy, notably giving millions to AIDs research and services, according to his foundation’s records.With considerable downtime, Watanabe started gambling at Harrah’s casino in Iowa in 2003, beginning to embark on regular trips to Vegas two years later, where his consumption and prodigality intensified.