UFC Kingpin, Dana White, Allegedly Owes over $25 Million to Red Rock Casino

UFC shot-caller Dana White has reportedly rung up a sizeable debt to Red Rock Casino in Las Vegas, Nevada, eclipsing the $25 million mark, and the figure could be closer to $50 million, according to some estimates.

It’s Only Money

UFC magnate Dana White is a big gambler, and like anyone who bets vast sums of money, it comes and it goes. According to recent reports, White lost big at the Red Rock Casino Resort in Summerlin, Nevada, after playing high-stakes baccarat.

An anonymous source stated, “Though not confirmed, the UFC boss owes the Las Vegas-based casino operator as much as $50 million for credit extended to him so that he could play high-limit baccarat and blackjack at the Red Rock Casino Resort in Summerlin, Nevada.”

White has been unabashed regarding his love of gambling and has crowed about his million-dollar winnings on several occasions. He was on video betting high-limit baccarat at the Fontainebleau and winning $1.2 million during his session in June. White also went public about taking Caesars Palace for $26-$27 million between January and March of this year.

Some casinos have reportedly barred White from playing, and many believe it is because he is a casino shark. However, some industry insiders have stated that his reputation as a “shortstop”—gambling parlance for a bettor who bets big stakes on a few hands and leaves after he wins—has labeled him persona non grata at many area casinos.

Friendly Markers

Although $50 million in debt is an astronomical sum to most of us, in the world of billionaires, it is just a bump in the road. Especially when the man holding the marker happens to be wealthy beyond his wildest dreams thanks to the customer who lost the bag.

That is the relationship between Dana White and Red Rock Chairman and CEO Frank Fertitta, who entrusted White to take the UFC, a company the Fertitta brothers bought for $2 million in 2001, and sold a significant portion of their shares for over $4 billion 15 years later to what became Endeavor Group Holdings. Just two years later, the Fertitta brothers divested their remaining shares in the UFC at a valuation of $5 billion.

Needless to say, White has made Frank Fertitta and his brother rich beyond their wildest dreams, and White has been handsomely compensated along the way. He has a penchant for high-stakes gambling, and his friend, Frank Fertitta, owns a casino. How convenient.

White’s Reputation and Financial Strength

But White’s generosity throughout Sin City is well known, and if his reputation is true, he will pay back the marker and begin again. White certainly has enough money, and it is doubtful he would lose a friendship and his reputation over money, regardless of the figure.

Moreover, Red Rock is thriving financially, and White’s debt represents less than 1% of the company’s $6.29 billion market capitalization. This means shareholders will not be losing any sleep over White’s debt and his friendship with the CEO.