Palms Casino Cuts Gambling Limits For UFC's Dana White After Huge Winnings

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hacheman@therx.com
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Dana White too successful of a gambler for the Palms, ordered to cut back his play

By Kevin Iole
Yahoo Sports


Apparently, the Palms Resort & Casino will welcome gamblers with open arms if they lose regularly. The more they lose, the more enthusiastic the welcome.
But when a gambler is as successful as UFC president Dana White has apparently been recently, things aren't so welcoming. White told Norm Clarke, the Las Vegas NormClarke Las Vegas Review gossip columnist, that he won nearly $2 million gambling at the Palms since March. And, as a result he said, the Palms has dramatically cut the amount of White's action it will take.

According to Clarke, the Palms didn't give White the boot fully, but they cut his playing privileges from $25,000 per hand to $5,000. As a result, White has opted not to gamble at the Palms any more.

This is the second time in two years that White's success at the tables has led the Palms to boot him. The first time, it not only cost the resort the opportunity to host UFC fight cards, but many of its employees turned against it.

White is a legendarily generous tipper, and Clarke reported about rumors that White tipped dealers $200,000 during his management-ended three-month winning streak. Clarke reported that White will continue to dine at the Palms' trendy N9ne Steakhouse, where he has been known to tip staff $10,000 on a $10,000 tab.
He said Mandalay Bay has reached out to him and wants him as a customer, but White said there are few places in Las Vegas willing to take serious action any more.
Casinos don't want to gamble anymore. They're all owned by hedge funds and corporations. They want to stack the odds so much against you that you won't play. Realistically, there's only one place to play left in town. That's Caesars. They will let you play what you want to play. No messing around with limits.
White denied he has a gambling problem and told Clarke his gambling hasn't had an impact upon either his personal or professional life.
 

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I'm always amazed when I put a grand on a game in Vegas that the teller flinches a little when I place that wager. I can't believe in Vegas that is considered abnormally large.

Last time I was there I put $500 on a college basketball game on a team that was +3 and also another $500 on the money line. When I cashed the ticket the guy said "nice hit, did you have inside information?"

Yeah, I knew a team was going to win 100% so I only put $1,000 on it.
 

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Caesars will let you play what you want? Not a chance in hell.



Amen! Didn't I read somewhere that Caesar's Entertainment was circling the drain?


I'm always amazed when I put a grand on a game in Vegas that the teller flinches a little when I place that wager. I can't believe in Vegas that is considered abnormally large.

Last time I was there I put $500 on a college basketball game on a team that was +3 and also another $500 on the money line. When I cashed the ticket the guy said "nice hit, did you have inside information?"

Yeah, I knew a team was going to win 100% so I only put $1,000 on it.


Must have been just talking with low level turd.
 

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I was just sure I read they were in trouble. I was amazed in that a company with so many different markets should be just a no-brainer cash cow.

One of the new places in City Center was also mentioned. That one did not surprise me. Cart may have got in front of the horse on that area.
 

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Vegas hasn't been the same since 2006 or '07. They used to let you fire on games, now 2 dimes and they want a letter from the NCAA and signed affidavits stating nobody is shaving points on said game.
 

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Accent 6"/> <w:LsdException Locked="false" Priority="68" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 2 Accent 6"/> <w:LsdException Locked="false" Priority="69" SemiHidden="false" UnhideWhenUsed="false" Name="Medium Grid 3 Accent 6"/> <w:LsdException Locked="false" Priority="70" SemiHidden="false" UnhideWhenUsed="false" Name="Dark List Accent 6"/> <w:LsdException Locked="false" Priority="71" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Shading Accent 6"/> <w:LsdException Locked="false" Priority="72" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful List Accent 6"/> <w:LsdException Locked="false" Priority="73" SemiHidden="false" UnhideWhenUsed="false" Name="Colorful Grid Accent 6"/> <w:LsdException Locked="false" Priority="19" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Emphasis"/> <w:LsdException Locked="false" Priority="21" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Emphasis"/> <w:LsdException Locked="false" Priority="31" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Subtle Reference"/> <w:LsdException Locked="false" Priority="32" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Intense Reference"/> <w:LsdException Locked="false" Priority="33" SemiHidden="false" UnhideWhenUsed="false" QFormat="true" Name="Book Title"/> <w:LsdException Locked="false" Priority="37" Name="Bibliography"/> <w:LsdException Locked="false" Priority="39" QFormat="true" Name="TOC Heading"/> </w:LatentStyles> </xml><![endif][if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman","serif";} </style> <![endif]--> I’d say a lot of debt is a massive understatement at a figure of $24.0 billion. Caesars Entertainment is certainly walking a tightrope at this point and their inability to expand outside the US has been disastrous. The Macau fiasco has really put them behind the eight ball considering Sands, Wynn and MGM are thriving there and have been able to offset the declining US gaming market.

If the US economy doesn’t show improvement and US gaming improve the long-term debt held by Caesars is virtually unsustainable, according to most firms. This type of financial strategy is typically only successful if equity increases, but economic factors have led to equity decreasing. I’m not sure what they could have done following the PEO in 2007-2008?


Caesars pointed to Massachusetts following the Macau incident, but couldn’t even make it to the table after the gaming commissions report. I initially figured the commission’s report was ultra conservative, but was surprised when Caesars did not take the opportunity to present its case and simply walked away. I believe the report was released in late 2013 and I was curious to see if this had any effect on Caesars expansion efforts in Maryland and Ohio, but I haven’t heard anything on those fronts.

To Caesars credit, most financial experts have been claiming disaster for the company for the better part of four years, but it hasn’t come to fruition, yet. They have made the only moves available to them at this point, selling equity and refinancing debt. Recently, they were able to extend long-term debt maturities for a few years and increase cash on hand. The value of the company is just a fraction of what it was eight or nine years ago. I will be very curious to see how this all plays out, but Loveman and company have been defying analysts for the last few years, so who knows.
 

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What was he playing? That is absurd.

I know casino's nit it up more than ever before because they are run by bean counters now but I can't imagine they wouldn't let him play table games big.
 

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looks like me and the Palms will never have to worry about my limits getting decreased
 
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IMHO, The Palms decision is really stupid. It's always in the casino's best interest to let the players keep playing a game with a house edge. If they don't have the funds to handle the variance then that is even more stupid...
 

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IMHO, The Palms decision is really stupid. It's always in the casino's best interest to let the players keep playing a game with a house edge. If they don't have the funds to handle the variance then that is even more stupid...

I agree, I don't know why they would limit him. You now have publicly stated you won't take action. Thus limiting the numbers of high rollers likely to place with them.
 

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Companies don't even want to understand gambling. They just want to get rich skinning suckers. The RISK of having any one player with more money on the table than a thousand others..... that completely violates their comfort zone.CHICKENSHIT! They want all of us to gamble.... but heaven forbid.... they would NEVER gamble.
 
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Dana White too successful of a gambler for the Palms, ordered to cut back his play

By Kevin Iole
Yahoo Sports


Apparently, the Palms Resort & Casino will welcome gamblers with open arms if they lose regularly. The more they lose, the more enthusiastic the welcome.
But when a gambler is as successful as UFC president Dana White has apparently been recently, things aren't so welcoming. White told Norm Clarke, the Las Vegas NormClarke Las Vegas Review gossip columnist, that he won nearly $2 million gambling at the Palms since March. And, as a result he said, the Palms has dramatically cut the amount of White's action it will take.

According to Clarke, the Palms didn't give White the boot fully, but they cut his playing privileges from $25,000 per hand to $5,000. As a result, White has opted not to gamble at the Palms any more.

This is the second time in two years that White's success at the tables has led the Palms to boot him. The first time, it not only cost the resort the opportunity to host UFC fight cards, but many of its employees turned against it.

White is a legendarily generous tipper, and Clarke reported about rumors that White tipped dealers $200,000 during his management-ended three-month winning streak. Clarke reported that White will continue to dine at the Palms' trendy N9ne Steakhouse, where he has been known to tip staff $10,000 on a $10,000 tab.
He said Mandalay Bay has reached out to him and wants him as a customer, but White said there are few places in Las Vegas willing to take serious action any more.
Casinos don't want to gamble anymore. They're all owned by hedge funds and corporations. They want to stack the odds so much against you that you won't play. Realistically, there's only one place to play left in town. That's Caesars. They will let you play what you want to play. No messing around with limits.
White denied he has a gambling problem and told Clarke his gambling hasn't had an impact upon either his personal or professional life.

So Agree with this Statement .. Should be written in Stone !
 

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