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Football Boss Loses £1 million

24/1/2011
Multi-millionaire, gambling fan and owner of Newcastle United, Mike Ashley, has reportedly blown £1 million at a UK casino in just 2 hours. The bankroll crushing run took place at Newcastle’s Aspers Casino earlier this month. The action started when Ashley quickly spun his initial stake up to £130,000. However, the hot streak soon ended when the house began to gain the advantage and within hours his profits had vanished, leaving him to dip into his own funds in order to stay in the game.

By 4am the football tycoon had dropped a staggering £970,000. The loss, which would have caused most to contemplate diving into the Tyne, didn’t seem to faze Ashley as he left the casino with a smile on his face; not before tipping the dealer £700. The splurge isn’t the first time Ashley has used a slice of his massive fortune to indulge in some casino entertainment. Indeed, he once apparently decided to settle a legal bill by playing a game of “spoof” for £200,000.
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