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Creator of Deadwood Wasted $100 Million Fortune on Gambling Habit

Tags: David Milch, Deadwood.
Posted on Wednesday, March 02, 2016 by "T".

David Milch, the creator of TV classics like Deadwood and NYPD Blue has accrued around $100 million fortune during his four-decade career in TV. However, there have been reports that he blew it all away on gambling. Mr. Milch's wife, Rita, filed a lawsuit late last year in Los Angeles against their business managers for failing to tell her sooner about her husband's gambling losses.

Between 2000 to 2011, Mr. Milch lost around $25 million betting on horses. Currently, he is in $17 million debt and under repayment plan for back taxes he owes to the US Internal Revenue Service. According to The Hollywood Reporter, Mrs. Milch is currently giving her husband allowance to prevent him from wasting any more money and is seeking $25 million in damages.

Mrs. Milch works as an artist. According to her, she has been forced to sell art and jewelry in an effort to raise money. The result of Mr. Milch's gambling have made to resort to living in a modest rented apartment in Santa Monica when previously they have been living million dollar homes.

Business firm Nigro Karlin Segal Feldstein & Bolno LLP (NKSFB) has described the lawsuit as "unusual and outrageous." Patricia Glaser, a lawyer representing the business firm has filed motion to dismiss the lawsuit. She told The Hollywood Reporter: "We do not believe this case has any merit legally or factually, and we are extremely disappointed that they would attempt to sully our client's reputation, in our view with no basis whatsoever."

David Milch, aged 70, began as a write for TV back in the 80s. His TV career started with Hill Street Blues, a police drama, before he created the NYPD Blue, which was a big TV hit, and later, his highly acclaimed Deadwood. The most recent show he created was Luck, a horseracing drama contracted by HBO back in 2011. However, the show cancelled when three horses died during the show's production.

"My dad used to call me a degenerate gambler. You hear that, and you spend time trying to live up to those ideas," said Mr. Milch. "I would say gambling became a problem for me. It distorts relationships, the way you want to live. If you don't realize when it has you in its grip, shame on you."

Mr. Milch is currently working on a movie version of Deadwood along with a TV adaptation of Shadow Country by Peter Matthiessen. Both projects are produced by HBO wherein Mr. Milch have exclusive contract.

source:  http://www.cardplayer.com/poker-news/20020-tv-producer-blew-100m-fortune-gambling-report


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4 comments for "Creator of Deadwood Wasted $100 Million Fortune on Gambling Habit"

 pochui3/2/2016 9:52:25 PM GMT
cool news... well i guess it's not that hard to spend 100 million dollaros (hear that dan bilzerian)... form riches to rags i guess... well at least some bookies made a living from this fella... no money goes to waste! i too have a gambling addiction and i too blew my fortune (whole bankroll of $1.69 @stars).
 bowie19843/3/2016 1:33:24 AM GMT
The full story is a nice investigation/report (with hollywood standards of course) - the 100 mill fortune was never really that big since they never really had this much money or real estate and business interests in the first place - it's just an estimate of over twenty years how much money slipped away from David Milch's hands in exchange for the love of horse racing.
Who by the way was quite a sharp handicapper in his better days according to his own wife, but those days are gone forever.
It's not like they have money problems in a sense you or I have, they just had to relocate to a lesser expensive house and get rid of all heir pricy belongings because at the end the husband got money from the business firm they've comissioned to handle their money, and after that money gone they've just continue to loan $hitton of dollaridos to Milch's habit.
 damosk3/3/2016 9:40:46 AM GMT
I love how the assumption that a fortune is 'wasted' is made out.

Was it truly wasted? Would it have been wasted if he had spent it on women and drink? Would it have been wasted if he had given it to charity? Would it have been wasted if he showered friends with expensive gifts?

Surely if he had a great time, and someone else has benefited, then it is not wasted.
 Serpang3/3/2016 12:44:13 PM GMT
So easy to make money for him ( maybe ) so he easy to waste it, lol. Maybe he confuse to find good entertainment. just know gambling , never think use the money to help other people get work or create some job for people is entertainment ,too. Even better for his feeling.

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