Charles Barkley lost $1M in a day 10 to 20 times and still nearly went to prison over $400,000.
His friends had a diagnosis: "You don't have a gambling problem. You're just an idiot."
May 2006. An ESPN interview.
Barkley puts the total out loud: about $10 million.
His worst run: $2.5 million gone in 6 hours at a blackjack table.
He laughs about it.
He keeps playing.
October 2007. Wynn Las Vegas.
He signs 4 casino markers. $100,000 each.
A marker looks like credit. It isn't.
In Nevada, an unpaid marker is a bad check. And a bad check is a crime.
Barkley walks out. The $400,000 never comes back.
7 months pass.
May 2008. Wynn sues.
Then the Clark County District Attorney steps in.
Not a debt case anymore. Felony theft.
1 to 10 years in a Nevada prison.
The most famous laugh on TNT goes quiet.
Within days, a $400,000 check is in the mail.
Plus $40,000 more to the DA's office.
His statement: "I screwed up."
Gambling cost him $10 million. Not paying almost cost him 10 years.
@NitePov The $474M came out of her bankruptcy. A housekeeper’s harassment suit pushed her into Chapter 11, Pierce filed a claim there, and she countersued.
@versivald Mike Bezos came over from Cuba alone at 15, Operation Pedro Pan. Then in 1995 he and Jackie put about $245k into Amazon. Hard to argue with “my Dad.”
@softarox Never saw a ban. Steve Wynn called him a “wonderful, talented guy” right after the lawsuit. Barkley banned himself instead: quit gambling for a year because “I was losing.” Then said he’d start again “whenever I get ready.”
@softarox George Shultz’s grandson Tyler worked there and brought him the problems. George sided with Holmes. Tyler ended up as one of the WSJ’s sources.