Mike’s Big Flop

Just when you thought you had heard it all, something quite extraordinary comes your way. This time it’s from the multi-millionaire owner of Newcastle United football club. Mike Ashley is no stranger to the world of big business, lavish lifestyles and a penchant for gambling. But as a casino whale, few people would be able to comprehend just how much money he can lose in a single session. It has been reported that Mike blew a cool £1 million at Aspen Casino and he didn’t even bat an eyelid. Such is his love of gambling that these figures barely resonate with his burgeoning bank balance.

Mike Ashley’s story uncut –

For those who don’t know, Mike Ashley is the famed multi-millionaire owner of Newcastle United football Club. Even before he ascended the ranks, he was worth an unmitigated fortune. That is perhaps how he was able to coolly lose £1million in just a few hours playing craps at a casino. He was out one night with his team manager Mr. Alan Pardew and the two of them were rolling dice and playing craps. The Sun newspaper reported that Ashley had actually hit a winning streak and pocketed some £130,000 after a few hours of play. The duo arrived at around 23:00.

The first session was plenty lucrative, but it was the second session that had him digging into his cash reserves. By the time the second session rolled over, he’d lost the remaining £30,000. It was probably at this point that he should have called it quits. But Mike’s no pushover and he’d rather sit and punt than bail. By 2 am the next morning Mike had lost thirty grand in less than ten minutes. So prolific were his bets that thousands of pounds were laid out across the craps table. Within 2 hours he had already lost £970,000. And the weird part is that he actually tipped the dealer £700. If there is any truth to expression, ‘lose graciously’ then Mike was the picture of poise and humility. In truth that’s not so hard to do when you’ve been listed as the 25^th wealthiest person in the UK at an estimated net worth of £1.9 billion.

Mike is no stranger to casinos. It has been reported that he resolved a massive legal expense with a game of spoof. But few things compare to his mega-flop at Aspers Casino near the St James Park ground. As the proud owner of the incredibly popular Sports World Stores, he knows how to turn a buck. Back in 2007 he made almost £1 billion in a single day when he floated a 43% stake in the firm on the LSE (London Stock Exchange).

But wait there’s a lot more about Mike Ashley’s losses

Earlier last year Mike Ashley lost a staggering £300 million on a BET on the debt-ridden bank HBOS. Mike was flabbergasted as HBOS shares plummeted to record lows as speculators tore into the share price. Ashley placed the colossal bet when the share price was under £6. We’ll be following his antics in time to come.