There’s good news for Vegas casino owner Derek Stevens
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.