Golden Nugget Accepts Possible $1 Million Payout from Bet Placed by the D Casino Hotel CEO Derek Stevens
The D Las Vegas owner and CEO Derek Stevens has taken a gamble of extravagant proportions at Tilman Fertitta’s neighboring Downtown Las Vegas property Golden Nugget Hotel & Casino – and it could result in a $1 million payout.
Stevens wagered $25,000 this week that his alma mater, the University of Michigan Wolverines, will win the 2018 NCAA men’s college basketball tournament at 40-1 odds. While most casinos would be hesitant to take on such a bet, Fertitta officially agreed to honor it at the property’s sports book. After the Wolverines secured their “Sweet 16” spot on Saturday against the Houston Cougars, Stevens is now four games away from a $1 million earning.
Stevens said, “As a University of Michigan alumnus, it is incredibly exciting to see them advance in the tournament. This bet is not only to celebrate my Wolverines, but it also is an example of the fun comradery we share between the Downtown Las Vegas casinos.”
Notable for his legendary sports bet in Las Vegas, Stevens placed a similar attention-grabbing wager at Golden Nugget in 2015 for in-state rival, the Michigan State Spartans, that would have also earned him $1 million.
University of Michigan fans from across the country are invited to wear their blue and maize and root for the Wolverines at the D Las Vegas and Golden Nugget against Texas A&M on Thursday, March 22 at 4:37 p.m. ET. The game will be played on all TVs and will be broadcasted on full audio throughout the casinos.