Former NBA Star Antoine Walker Gambles His Way To BankruptcyMay 31, 2010 10:21 am
Last year, former American professional basketball player Antoine Walker (33) looked liked he was determined to get his life back in order after agreeing to pay back around $1 million to three Las Vegas casinos he owed money.
Back then, Antoine Walker narrowly avoided a court trial on fraud charges when he agreed to repay $12,835 a month to the casinos until his debt were cleared. Six months later, Antoine Walker has filed for bankruptcy after his liabilities had risen to $12.7 million compared to his $4.2 million worth of assets.
Out of his total liabilities, $770,000 is owed to Harrah’s and $500,000 to Ameristar Casino in East Chicago, Indiana. Sports agent Mark Bartelstein is also owed a further $458,000. Commenting on the gamblers waning fortunes, Gaming Analyst Brad Dawkins said:
“Antonie Walker may go down as one of the saddest sports stories of our generation just because of the amount of money that he had made during his career. It seems unfathomable that someone could lose over $100 million in the course of less than a decade.”
At the peak of his career, Antoine Walker would spend around $78,000 per month on general living expenses and looking after his extended family, but his flamboyant lifestyle saw him occasionally playing cards with Michael Jordan at around $15,000 per hands, or gambling on high-stakes blackjack at the Mohegan Sun.
The beleagured NBA star must now face the prospect of an uncertain future after admitting in court that he no longer has a source of income. Walker is now pinning his hopes on being offered one more shot to make it back into the NBA.
The 6 foot 8″ basketball star played for the Boston Celtics between 1996 and 2003, and the Miami Heat between 2005 and 2007, after which his career peaked and he has played only sporadically since, for the Memphis Grizzlies (2008) and Guaynabo Mets (2010).