These celebs lost heavy money gambling

These celebs lost heavy money gambling

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Celebrity gambling is no longer breaking news, but, from time to time, we are reminded about the dangers of allowing things to get way out of hand. This piece takes a look at some popular celebrities that lost a fortune on gambling.

David Gest

He died in April at the age of 62 after spending his last days spending thousands of dollars into slot machines all around the UK. The ex-husband of Liza Minnelli played with as much as $14,000 daily and lost nearly $150,000 to just one casino in one year.   To fuel his habit of playing on fruit machines, his production company chalked up around $700,000 in debt and by the time he passed on, his personal fortune was down to $80,000. David Gest case is perhaps why more fruit machine players and bingo players now playing bingo with PayPal. With the restrictions applied by some of these sites, as listed on newpaypalbingo.com in conjunction with PayPal, it is easier to keep spending in check.

Terrance Watanabe

The Omaha Nebraska native lost a massive $127 million at the Rio and Caesars Palace Casinos in Las Vegas. As at 2007, it was reported that funds squandered by him accounted for nearly 6% of the parent company’s gambling revenue in Las Vegas.

Omar Siddiqui

Omar Siddiqui was the former VP of Fry’s the consumer electronic group. He lost $167 million to gambling but that wasn’t his only problem. Casinos loved him for his spending but it was soon established that he had embezzled $65 million from his employer. He received a 6-year sentence in 2011.

Charles Barkley and Joe Francis

According to Charles Barkley himself, he won a million dollars in Las Vegas nearly 3 times but he equally lost around 3 times that amount. Joe Francis on his part went $2.8 million in debt at Wynn Las Vegas and racked up a $20 million lawsuit as a result of the debt.

David Milch

David Milch brought interesting shows like NYPD Blue, Luck and Deadwood to us but he makes this list. He gambled mostly on high stakes horse racing. Milch’s HBO series Luck centres around the dangers of gambling but ironically, he got caught up in it. Milch earned more than $100 million in his TV writing career but he now finds himself $17 million in debt. The IRS is also chasing him for taxes. He currently operates on a cash allowance of $40 per week.

Naomi Isted
Editor in Chief, Naomi Isted is known as The Ultimate Lifestylist to her readers and viewers. She is a TV Presenter and Columnist. Ranked in the Top 100 LFW Social Media Influencers AW14 & SS15, Brand Ambassador for Pears Soap UK. Her Celebrity beauty TV Series currently airs to 27million homes on Physique TV in UAE, previously on Wedding TV in the UK. She brings fashion and beauty advice to her readers and viewers on a daily basis. She is Fashion and Beauty Columnist for Herald Scotland and has a Fashion and Beauty Bridal Blog for HELLO. She can usually be found attending celebrity fashion and beauty events in and around London and sharing the latest fashion and beauty trends with her readers.

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