A $1m Win Yields a $300,000 Steak Dinner

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Everyone who plays the game of blackjack plays to win, and everyone who wins, dreams of winning big. Let’s face it, we all enjoy a story of winning largesse thus the story of a Las Vegas $1m win, followed by a $300,000 steak dinner will likely capture your attention.

The story goes, according to Bloomberg, that Shane Smith, CEO of Vice Media Inc enjoyed a run that culminated in the $1m range at Bellagio last month, then treated unidentified guests to a blow out dinner that produced a ludicrous check. Just in case you are wondering what cut of meat can push the bill in that direction, it was more (as it often is) about the wine. In this instance, bottles valued at up to $20,000 are credited.

Where the romanticism of the tale (if dropping such change can be regarded as such) loses a little of its luster is when you look at the reported net wealth of the protagonist. Smith is valued somewhere in the region of $400 million and thus could have paid for dinner before gambling without great concern. But let’s not let that get in the way of a good Blackjack winning story shall we?

What may be regarded as significant however is that MGM resorts are pointing to the event as a wider indicator of the gambling Mecca’s overall health. CEO Jim Murren hadn’t seen a check like that since 2007, reported the Las Vegas Review-Journal. He added: “It tells you there is a release valve that has opened. That isn’t a trend, but it’s a sign people are ready to spend money again.”

Smith was in Las Vegas to attend the vast Consumer Electronics show. Such conventions are seen as the way to attract the type of gamblers that will have the punch that he carries. Therefore, more convention space is the direction Sin City is heading in. The Iconic Rivera Casino will be that latest casualty in the drive to create more lucrative space for the Las Vegas Convention and Visitors Authority, when it is torn down later this year. Those of us with affection for such wonderful old casinos will shed a tear.

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