Friday, 22 January 2021
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Harry Kakavas

from renowned australian broker to being broke

Australian Gambling Addict Claims his Money Back at Casino

An Australian gambler who lost $1.5 billion in the casino in just 14 months is trying to get some of his lost money back through the courts.

From Portrayed Broker to Gambling Addict

Harry Kakavas, a real estate agent who made a fortune selling houses on Australia’s popular Gold Coast, is suing the Crown Casino in Melbourne for allegedly abusing his gambling addiction. That’s what the Daily Mail writes.

According to the Canberra Times, the man would have wagered large sums of money at the baccarat table. In May 2006, for example, he would have lost 164 million dollars within five hours. The bet could be as much as $300,000 at a time. He also made frequent trips to Las Vegas or gambling mecca Macau, where he could chase as much as $4 million through one day. It’s funny that someone who is such a great real estate agent is such a bad gambler.

The Opposing from His Lawyer

According to his lawyer, the casino knew about his addiction, but did everything in its power to bring the notorious gambler to the table again and again. “This is a man who can’t control his urge, and Crown knew it.

The 42-year-old pathological gambler, Harry Kakavas, is struggling with heavy debts. He still received a loan of one million dollars from Crown. Kakavas lost no less than 18.5 million over 15 months in 2005-2006. With baccarat he lost more than 1.2 million in 45 minutes. He claimed damages from the Crown Casino of more than 12 million through the courts. According to Kakavas, the gambling temple had abused his addiction.

No Abuse

The judge did not follow the real estate king and ruled that he had to pay back the one million dollars he owed the casino. “Crown was not in a position to abuse him,” Judge David Harper ruled. “He was not a person who was hopelessly in love with the cards and who could not resist the temptations of the casino.


Kakavas hadn’t bothered to convince Crown that he wasn’t that rich, heavy player at all. However, the judge also tapped Crown on the fingers in his verdict. The casino didn’t seem to him to be a world leader in responsible gambling, given their relationship with someone like Kakavas. Crown, for example, had Kakavas send a serious starting capital in a gift box and had him fly over from the Philippines to come and gamble with them. The man also has a lot of debts in gambling paradise Las Vegas. He also has to pay interest on his debt of one million with Crown.

The pronunciation was closely followed by the gambling world, which reacts relieved. The door to millions of claims by ‘addicts’ was not opened with a precedent.