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There’s good news for Vegas casino owner Derek Stevens

From LVRJ:

Derek Stevens didn’t cash his $1 million ticket on Michigan, but the Las Vegas casino owner still came out on top on his wagers Monday night and for the NCAA Tournament.

Stevens, who owns the D Las Vegas and the Golden Gate, lost his $25,000 futures bet on the Wolverines placed at the Golden Nugget when Michigan was defeated 79-62 by Villanova in the NCAA title game. But he won $100,000 on a $330,000 hedge bet he placed on the Wildcats on the money line Monday afternoon at William Hill sports book.

After all was said and done — including all those first round bets — Stevens ended up winning $39,000 over the tournament. And got a ton of free media for his Vegas casino, The D.

Numbers from :

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Recap of the National Championship

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BUSTEDCOVERAGE Writer

I started Busted in 2007, sold it in 2011 and Coed kept me around to run this operation. Based in Ohio. Contact me: @bustedcoverage