How to lose $127 million

This Wall Street Journal article is a fascinating glimpse into the world of casinos and their whales.

I was surprised to read that state gaming regulations prohibit casinos from allowing visibly intoxicated patrons from gambling. If true, this must be the single most widely disregarded rule on the books. At least half of the time that I play poker there is somebody at the table that I can tell within 60 seconds is drunk. I have never--literally not once--seen or heard any casino employee advise such people to leave or stop playing, or cut them off from further alcohol, unless the player is intolerably unruly or falling asleep at the table.

Hat tip: Prof's poker blog.