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Terry Watanabe Cuts Deal With Harrah's, Prosecutors

Jul 8, 2010 – 4:55 PM
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David Knowles

David Knowles Writer

(July 8) -- Apparently, he knows when to fold 'em.

Retired former businessman Terry Watanabe has reached a deal with prosecutors that will keep the 53-year-old gambler from serving jail time.

According to The Associated Press, Watanabe has agreed to drop his $190 million lawsuit against Harrah's Entertainment, and Harrah's will put off its own legal claim and await the verdict of an arbitrator.

As reported by AOL News, Harrah's had filed charges against Watanabe, accusing him of running up a $15 million gambling debt at two of its Las Vegas casinos.

Watanabe countered with a civil lawsuit of his own that alleged that the staff at the Caesars and Rio casinos plied him with alcohol and painkillers, essentially holding him hostage at the gambling tables.

The confidential deal with Clark County, Nev., prosecutors came Thursday, just days before Watanabe's trial was to begin.
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