GRADE: A

The examination of compulsions often makes for great storytelling because it magnifies the human thinking process, even if that process is tilted and self-destructive as in the case of Canadian banker Daniel Mahowny, whose exploits in Toronto, Atlantic City and Las Vegas became legend in gaming and finance circles.

In Owning Mahowny, director Richard Kwietniowski’s superb sophomore effort, Manhowny’s story is brilliantly brought to life through a stripped down screenplay (by Kwietniowski and Maurice Chauvet) and an authentic, effectively nuanced performance from the gifted actor Philip Seymour Hoffman.

Hoffman plays Mahowny as the person he was in real life—a hard working, low-key individual who’d risen to become the youngest loan portfolio officer in the history of one of Canada’s oldest banks. Quiet and well liked, he’s an extremely down to earth and unassuming guy who despite his vocational success still drives an old beater and dresses in out-of-date clothes

Some of that is simply due to Mahowny’s modest demeanor and otherwise frugal approach to things. But his unstylish appearance and disinterest in conventional trappings are also the byproduct of his obsession with betting. If ever there was a candidate for Gambler’s Anonymous, Mahowny is it.

Of course, like most persons plagued by a consuming compulsion, Mahowny is only partially aware of his affliction. When occasionally forced to confront his problem by his adoring girlfriend, who he is constantly disappointing with failed social plans and weekends where he seems to simply disappear from sight, he does little but try to sidestep the discussion, the next bet always foremost in his mind.

When Owning Mahowny begins, the odds-obsessed banker is holding it together in spite of currently owing his colorful bookie (Maury Chaykin) $10,000. When a large bet intended to wipe out that debt goes south, Mahowny finds himself down to the tune of nearly $50,000. And with that the die is cast.

The only thing Mahowny can do to keep it going is to devise a scheme by which he can appropriate bank funds to underwrite his gambling. That sets into motion a fascinating, frequently funny and fast-paced character study with a distinctly suspenseful flavor that also takes a wry look at the less-than-honest machinations of the banking and casino businesses.

A terrific cast of colorful characters and an assured filmmaking style combine to create the kind of story and viewing experience that all too often goes unnoticed in the deluge of superficial special-effects extravaganzas. But by any measure, Owning Mahowny is a winner.

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