Benny Binion, a man with a checkered past, played a significant role in the foundations of modern Las Vegas. Before the Hoover Dam construction began in 1930, Las Vegas was merely a small settlement. However, thousands of people flocked to the area looking for work, creating an ideal environment for what would become Sin City over the next few decades.
Born in 1904 as Lester Ben Binion, Benny’s life revolved around gambling. With no formal education, he spent his childhood accompanying his father, a horse trader, on trips. Before moving to Nevada, he ran an illegal gambling operation in Texas.
After World War II, the Chicago Mob made a move for Dallas, and Benny lost the support of local officials when a new county sheriff was elected. In 1946, he decided to move to Las Vegas, which was already shaping up to become the world’s largest gambling hub.
Binion’s Horseshoe Casino
Following a few failed attempts, Benny Binion finally purchased the Eldorado Club and the Apache Hotel. This was where he opened his now-legendary Binion’s Horseshoe Casino. He made his casino stand out from the rest by raising the maximum bet on table games. For example, his craps games had a maximum of $500, which was 10 times higher than what the competition offered. Binion also promised players that he would take bets of any size, as long as their bet wasn’t larger than the size of their very stake.
Unlike some of his competitors, Binion didn’t care much about “extracurricular” activities. There were no live shows or anything of the sort to distract players from the tables and entice them to spend money somewhere else. Benny was the one who introduced free drinks for players, which soon became a popular practice in Las Vegas casinos.
It wasn’t long before Binion’s Horseshoe gained the legendary reputation that it’s kept pretty much to this day. It was a real casino for real players – with no nonsense. Although Binion took some risks by allowing massive bets, he knew what he was doing. He had the house advantage on his side and knew that, as long as he could ride out the variance, he would come out a big winner.
Legal Troubles and Family Involvement
Having moved to Vegas, Benny Binion left a trail of crime behind him. Two Dallas district attorneys were determined to arrest and charge him, and they finally collected enough evidence in 1953. Binion faced charges for tax evasion and was consequently sentenced to 42 months in prison.
His son, Jack, took it upon himself to continue running the casino, while Benny took on the role of PR Director. In the years immediately following Benny’s release, the Binion family didn’t hold a controlling interest in the casino. It was only in 1964 that they were able to get back the majority share in the venue. Despite this, Jack Binion picked up right where his father left off. He got a gaming license from the Nevada Gaming Commission and took it upon himself to keep the business going.
Benny Binion, a prominent figure in the Las Vegas gambling scene, established the Horseshoe Casino with his son Jack Binion. The casino’s slogan “a fair game and fair odds” captured the spirit of the casino, and people kept flocking to the venue, leading to an increase in profits. Despite doubts from others, Jack proved himself to be a natural at the gambling business, inheriting his father’s talent and flair.
World Series of Poker
In 1970, Benny invited major players in town for a poker showdown to determine the best poker player. The first World Series of Poker tournament gathered just seven players, including Doyle Brunson, Amarillo Slim, Puggy Pearson, and Johnny Moss. After several days of high-stakes cash games action, Moss was voted the best player by his peers.
Thanks to the Binions’ vision and some lucky developments, the competition gradually gained nationwide popularity. In 1973, it even received TV coverage by CBS Sports, a huge breakthrough at the time. By the late 1980s, Binion’s Horseshoe could barely accommodate all the players coming through its doors. This was when Jack decided to expand, buying Mint Casino and Hotel and several other properties and set up a full-time poker room at the venue.
Benny Binion’s Legacy
Sadly, Benny Binion passed away in 1989, leaving it up to Jack to continue his father’s legacy. Jack continued to run the WSOP, and the tournament kept growing. However, a dispute inside the family resulted in Jack selling his interest in the Horseshoe Casino in 1998 to his sister, Becky, ending his involvement with the venue and the tournament.
In 2004, Harrah’s Entertainment purchased Binion’s Horseshoe and obtained all rights to the World Series. The tournament, which had grown significantly in size by this point, was moved to the Rio Hotel and Casino, while the Horseshoe was sold to MTR Gaming Group. Following the acquisition by MTR, the casino was renamed Binion’s Gambling Hall and Hotel, keeping the famous name above the door.
Jack Binion, who was born in 1937, is still around. He holds a consulting role with Wynn Resorts and has witnessed and been a part of some of the greatest moments in the history of Las Vegas. Without the Binions, the history of Sin City would likely be much different, and we probably wouldn’t have the World Series of Poker – or at least not as we know it today.
