350k BTC seems to be an insanely huge number. 
Fuck it, even 120k is an insanely huge number for a simple website like satoshi dice. That's 1% of all current bitcoins for a concept that anybody can copy
Still makes no sense.
120k btc = 12 million dollars for a simple website that can be developed for a tiny fraction of the cost, generates little to no revenue and currently stale, with lots of competition popping up.
If big casino owners know one thing, it's not to give money away. Something's fishy here.