E. Cobham Brewer 18101897. Dictionary of Phrase and Fable. 1898.
He has levantedi.e. made off, decamped. A levanter is one who makes a bet, and runs away without paying his bet if he loses. (Spanish levantar el campo, la casa, to break up the camp or house; our leave.
In the Slang Dictionary, p. 214, we are told that it was formerly the custom, when a person was in pecuniary difficulties, to give out that he was gone to the Levant. Hence, when one lost a bet and could not or would not pay, he was said to have levantedi.e. gone to the Levant. Of no historic value.