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Houston billionaire will lose $1 million if Michigan State wins the Final Four: Greenlighted longshot bet

Bet we know who Tilman Fertitta will be betting against in the Final Four.

The Houston billionaire could be out $1 million if Michigan State wins the championship. That's the amount Fertitta's Golden Nugget Hotel & Casino will pay out to hotel owner Derek Stevens if the Spartans claim the title.

In early December, when Michigan State started the season with a miserable 5-3 record, Stevens put $20,000 down on 50-to-1 odds from the Golden Nugget that the Spartans would win the NCAA Championship, according to ESPN.com. Stevens placed the bet at the Golden Nugget rather than his two Las Vegas hotels because Nevada state gaming regulations forbid owners from placing bets at their own establishments.

ESPN reports that the Golden Nugget originally declined Stevens' bet, but Fertitta approved it after the hotel's sports book director consulted with him by phone.

Michigan State, which is the lowest-seeded team in the Final Four (it was only seventh seed in its region) is still only 8-to-1 to win the title and must upset a pair of No. 1 seeds — Duke on Saturday and Kentucky or Wisconsin next Monday — for Stevens to claim the winnings.

Ironically, Stevens is a graduate of Michigan State's archrival, the University of Michigan.

As CultureMap previously reported, Fertitta was flying high in a billionaire's charity bracket pool, but faltered when Kentucky squeaked by his favorite, Notre Dame.

If Michigan State continues its surprising run under Tom Izzo, Houston billionaire Tilman Fertitta will be the one giving the stink eye.

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Houston Astros ballpark gets cool new name for the next 15 years

Courtesy of the Houston Astros

The Astros' stadium will have a new name in 2025.

The Houston Astros are about to have the coolest ballpark in Major League Baseball. The team announced on Monday, November 18 that its has reached a naming rights agreement HVAC manufacturer Daikin Comfort Technologies North America, Inc.

Beginning on January 1, 2025, the stadium will be known as Daikin Park (die-kin). Scheduled to run through the 2039 season, the new name replaces Minute Maid Park, which has been the stadium’s name since 2002. It opened in 1999 as Enron Field.

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Astros fans online are already calling the new stadium “The Ice Box,” replacing its informal “The Juice Box” moniker. That name feels likely to stick.

Japan-based Daikin Industries is a leading manufacturer of HVAC systems. It sells air conditioning units and other products under brand names such as Daikin, Goodman, Amana® and Quietflex. Critically, it operates Daikin Texas Technology Park in nearby Waller, which is the largest HVAC manufacturing facility in North America. The company employs approximately 10,000 people in Greater Houston, according to a release.

“We are excited to be partnering with Daikin for our ballpark’s naming rights,” Astros owner Jim said. “Daikin is an international company that proudly calls the Greater Houston area its North American home. The Houston Astros and Daikin share the same values, a commitment to excellence and a desire to give back to our local community. As we celebrate the 25th anniversary of this ballpark in 2025, I am proud to have Daikin alongside us to create even more special memories for our fans now and in the future.”

The Astros will use the revenue for new stadium amenities and other upgrades. It will also continue the team’s various community initiatives. Terms of the deal were not disclosed. the Houston Chronicle notes that naming rights deals may be worth anywhere from $3.5 million per year (T-Mobile park in Seattle) to $11 million per year for the Texas Rangers’ Globe Life Field.

The team’s first game in Daikin Park will take place on Monday, March 24, which it plays an exhibition against its Triple-A affiliate, the Sugar Land Space Cowboys. It will open the regular season on Thursday, March 27 against the New York Mets.

“Daikin fit all of the criteria we set out to find in a naming rights partner,” Astros senior vice president Matt Brand added. “Their name and reputation fit our iconic downtown Houston home, and their values mesh perfectly with those of the Astros. We are grateful to partner with the entire Daikin team and to help them succeed in their business goals. Daikin Park will be a special place for our fans for many years to come.”

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