[gambling] The Man Who Broke Atlantic City … a great longread for the weekend – the true story of a man who took on the casinos and won by playing their games/systems better than they do …

Largely as a result of Johnson’s streak, the Trop’s table-game revenues for April 2011 were the second-lowest among the 11 casinos in Atlantic City. Mark Giannantonio, the president and CEO of the Trop, who had authorized the $100,000-a-hand limit for Johnson, was given the boot weeks later. Johnson’s winnings had administered a similar jolt to the Borgata and to Caesars. All of these gambling houses were already hurting, what with the spread of legalized gambling in surrounding states. By April, combined monthly gaming revenue had been declining on a year-over-year basis for 32 months.

For most people, though, the newspaper headline told a happy story. An ordinary guy in a red cap and black hoodie had struck it rich, had beaten the casinos black-and-blue. It seemed a fantasy come true, the very dream that draws suckers to the gaming tables.

But that’s not the whole story either…

The Man Who Took On The Casinos… And Won.

This entry was posted on Friday, April 6th, 2012 at 5:16 pm and is filed under Life.

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