Gambling giant, MGM Resort, is known for taking bets-  but on May 19, they made perhaps their biggest one yet The casino laid down a cool $86.9 million, wagering that they could procure better and cheaper energy through means outside of Nevada Power. The move is the latest chapter in what has been a tumultuous year for the Nevada energy landscape, and may set a precedent that could mean the end of utilities as we know them.

In December 2015, the Nevada PUC granted three giants of the Vegas strip — MGM Resorts International, Wynn Resorts Ltd., and Las Vegas Sands Corp — permission to leave the utility, provided they paid exit fees. The fees were designed to offset rate increases to remaining customers, as required by the 2001 legislation that allows the Nevada casino-hotels to opt out of the utility. Both MGM and The Wynn filed applications to pull the plug before the May 19 deadline.

John McMannus, MGM’s Executive Vice President, made mention of “increasing customer demand for environmentally sustainable destinations” and the intention to “aggressively pursue renewable resources” in his letter to the the commission. MGM clearly believes that it can acquire clean energy quicker and cheaper without Nevada Power. With abundant Nevada solar and the prospect of 20 year fixed rates, they are likely correct.

Nevada Power was an ardent supporter of the net metering rate changes that have hamstrung the rooftop solar industry in Nevada. While this is seemingly unrelated to MGM’s decision, there are many who see the development as a fitting comeuppance. Cory Honeyman, the associate director of GTM’s U.S. solar research practice, spoke of this irony in a recent podcast. Honeyman points out that MGM represents 5 percent of Nevada Power’s sales, while rooftop solar customers are only half of that. This means that the losses associated with MGM’s departure are significantly greater than the gains from the net metering decision.

Whether or not you feel that Nevada Power has received its dose of karma, the bigger question is what this move means for utilities elsewhere. Honeyman mentions that there are 13 states that allow companies to leave the utility, including some, like Texas and Georgia, where there is no fee. While this certainly opens the door for a utility death spiral, the circumstances with MGM were unique — casinos are cash rich and Nevada has lots of sun and space to facilitate clean competition.

Whether making this gamble will make as much sense for companies in other industries and states is yet to be seen. As with many aspects of the renewable energy industry, there are many complex factors that go into making such decisions. Which is why going forward, good data management and visibility is paramount to moving in the right direction.