Australian Gambler Sues Over Lost Millions

October 30, 2008

Listen to the Story

text sizeA A A

October 30, 2008

Harry Kakavas is suing a casino in Melbourne after losing nearly $1 billion during a 14-month gambling spree. Kakavas claims that at a time when he was already banned from every casino in Australia, managers at the Crown Casino deliberately lured him back to their baccarat tables, even offering a line of credit. He's alleging the casino breached gambling laws.

RENEE MONTAGNE, host:

As Jim Zarroli mentioned, it's been a wild ride for people betting on the Australian dollar. Our last word in business is about the wild ride of one Aussie gambler in particular. Harry Kakavas lost more than a billion Australian dollars in a 14-month gambling spree. That's about $950 million U.S. dollars. And his reaction? He sued the casino. And that's our last word in business, sue the house. Kakavas claims that after he was banned from every other casino in the country, managers at the Crown Casino in Melbourne deliberately lured him to their baccarat tables. He's charging them with breach of state gambling laws. And that's the business news on Morning Edition, I'm Renee Montagne.

STEVE INSKEEP, host:

And I'm Steve Inskeep.

Copyright ©2009 National Public Radio®. All rights reserved. No quotes from the materials contained herein may be used in any media without attribution to National Public Radio. This transcript is provided for personal, noncommercial use only, pursuant to our Terms of Use. Any other use requires NPR's prior permission. Visit our permissions page for further information.

NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.