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Nearly £1 Million lost in Casino by Football Mogul

Posted on January 27th, 2011

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The famous Newcastle United Football Club, which was founded in 1982 after a merging of two local clubs, is today under the ownership of 47 year old multi-millionaire Mike Ashley. Ashley is known for his love of gambling—something that was sensationalized by worldwide media as he lost a staggering amount of nearly £1 million after only two hours of betting at Aspers Casino. The casino is located near the football club’s St. James Park grounds. According to reports, Ashley was on a night out with the football team’s manager, Alan Pardew, during this monumental gambling spree.

The Sun newspaper reports in detail the incidents that particular night which resulted to Ashley’s huge loss. Apparently, the duo arrived at the Aspers casino at around 11pm, and immediately hit a winning streak during their first attempts at betting. Ashley scooped up £130,000 shortly after their time of arrival, playing craps. After having secured the £100,000 from those winnings in his casino account, the remaining £30,000 was consumed in no time. Despite losing bets after another, Ashley carried on playing steadily, without signs of stopping. A couple of hours shortly, after having lost the £30,000 earlier winnings in a matter of minutes, Ashley’s total losses tallied up to a sum of £970,000. It was approximately 4am by the time the duo left the casino, surprisingly, Ashley still sported a smile on his face, according to spectators. An anonymous individual, who saw the whole event with his own eyes was quoted in saying “He bets thousands at a time, tens of thousands sometimes, covering the tables with bets.” The source further informed of Ashley’s relaxed disposition upon leaving as he said, “He had a smile on his face and tipped the dealer £700, which is astonishing really, because people usually only give a tip if they’ve won.”

On the other hand, Aspers Casino stays silent regarding this issue. The casino’s spokesperson rejected any queries on the subject saying, “The privacy of our members is of paramount importance and it is our policy never to comment on any individual.” Ashley’s unbothered and indifferent manner after having lost a significant amount of money from gambling certainly comes from the fact that the whopping losses would not leave a dent, let alone a tiny scratch, on his vast fortune. As a result of this, Ashley is often seen parading around countless casinos, his love for the game obvious to anyone watching him play. An account of his having settled a legal dispute worth over £200,000 through a game of “spoof” was also confirmed by a number of sources.

Mike Ashley is a former county squash coach and amassed his great wealth by starting a sporting goods store, Sports World. His money doubled, tripled, and quadrupled over the years the store begun its operations, which launched in the year 1982. Ashley’s store has gone on to become UK’s largest sporting retailer. In the year 2007, Ashley scored a winning goal as he pocketed a total sum of £929 million in only a single day when he floated a 43 percent stake in the firm on the stock market. Through this tremendous stroke of genius Ashley executed with his retailing of sporting goods, the company underwent a series of progressive changes, its name being the most noticeable one. It is today famously known as Sports Direct International, but remains under the brand of its original name, Sports World. Sports Direct International continued on with the prior brand’s excellence in the commercial industry, with a number of retail subsidiaries and sports equipment brands at hand.

At present, it is a publicly traded company but Ashley remains to be the owner of roughly seventy-one percent of Sports Direct International. Ashley did lose big in his gambling spree earlier this month at Aspers Casino but during the course of his gambling days, he had also won an enormous amount in a single roulette spin, totaling to £1.3 million. For Ashley, gambling is not about the money you win or lose. It’s about enjoying the game. Ashley believes that the enjoyment he gets from gambling cannot be paid by any amount he loses in a casino.