Most successful entrepreneurs are known risk takers and many like to gamble at both work and play. When it comes to betting on the horses, gaming tables, sports, etc., having a large disposable income sometimes means the amounts wagered are huge. Two such wealthy men have been in the news lately – the billionaires Dermot Desmond and Mike Ashley.

Sporting Index have filed a claim at the High Court in London against Irish financier Dermot Desmond, claiming he owes £722,000 (US$1.43 million) after heavy losses from golf wagers. UK businessman Mike Ashley is reported to have lost around £129 million (US$254.97 million) last year on spread betting.

Newcastle United Football Club owner Ashley recently recouped some of his losses when he won on roulette at London’s 50 Casino. The combination bet on his lucky number 17 paid out £1.3 million (US$2.57 million) after around fifteen minutes play. In February last year Mike Ashley floated his Sports Direct chain of sports and ski shops and banked over £920 million (US$1.8 billion).

Dermot Desmond, the largest shareholder in Celtic Football Club, has acknowledged the lawsuit and is expected to file a full defence against the Sporting Index claim, which may have arisen following a dispute over a bet. He is credited with being Ireland’s fourth richest man. In October 2006 Desmond sold London City Airport for a reported £750 million (US$1.48 billion). (E-05.06.08)

© Copyright 2008 CasinoCompendium



>>> return to archives
>>> return to frontpage