Benny Binion, Notable Gambler, Reshaped Modern Las Vegas
Benny Binion's Horseshoe Casino: A Pioneer in Shaping Modern Las Vegas
Benny Binion's Horseshoe Casino, opened in 1951 on Fremont Street, played a significant role in the development of modern Las Vegas. The casino, which initially focused on gambling over entertainment acts, introduced several key innovations that reshaped the gambling industry and casino culture.
Upon opening, Binion replaced the sawdust-covered floors with carpeting, improving the gaming environment. He also instituted very high table limits, starting the craps table limit at $500—ten times the prevailing standard—and eventually raising or even eliminating limits altogether. This attracted high-stakes gamblers, setting a new standard for excitement and risk in Las Vegas.
Another major innovation was the introduction of comps, or complimentary perks, offered to all gamblers, not just high rollers. This made gambling more inclusive and egalitarian. Binion eschewed exclusive private pits for high rollers, further reinforcing a more equal playing field within his casino.
These practices helped shift the image of Las Vegas casinos toward high-stakes, customer-friendly gambling destinations centered on chance and risk rather than just glitzy entertainment or exclusivity. This contributed to Las Vegas evolving into a major global gaming hub, particularly downtown before the rise of the Strip.
Binion's family-run business model, with close involvement of his sons and wife, kept the casino authentic to his vision until 2004. In 1946, Binion moved to Las Vegas to escape turf wars and focus on his business. He obtained a gaming license from the Nevada Gaming Commission to continue running the casino.
One of Binion's most notable innovations was the establishment of the World Series of Poker (WSOP) in 1970. The first WSOP tournament gathered seven players, including Doyle Brunson, Amarillo Slim, Puggy Pearson, and Johnny Moss. Over time, the WSOP received nationwide popularity, with TV coverage by CBS Sports in 1973 and a significant increase in player numbers by the late 1980s.
In 1988, Jack Binion, one of Binion's sons, expanded the hotel by buying the next-door Mint Casino and Hotel for $27 million. Jack Binion also came up with the slogan "a fair game and fair odds" for the Horseshoe Casino.
However, Binion's history was not without controversy. Before coming to Nevada, he ran an illegal gambling operation in Texas. Despite this, his contributions to the gambling industry and the development of modern Las Vegas are undeniable.
In 2004, Harrah's Entertainment (later renamed Caesars Entertainment) purchased Binion's Horseshoe and obtained all rights to the World Series. Jack Binion sold his interest in the Horseshoe Casino to his sister, Becky, in 1998, ending his involvement with the venue and the tournament.
In summary, Benny Binion's Horseshoe Casino impacted modern Las Vegas by:
- Pioneering high table limits and sometimes no limits, attracting serious gamblers
- Offering comps to all gamblers, democratizing perks in casinos
- Elevating gambling over entertainment acts as the casino's primary focus
- Creating a more egalitarian environment without exclusive high-roller areas
- Improving the physical gaming environment with innovations like carpeting
These innovations influenced how casinos operate across Las Vegas and helped shape its identity as a premier gambling city.
- The Horseshoe Casino in Las Vegas, under the leadership of Benny Binion, started a blog about responsible gambling to inform visitors about the importance of playing within their means and understanding the odds.
- In the 21st century, as online gambling gained traction, the Horseshoe Casino expanded its offerings to include casino-games and lotteries on its digital platform, allowing visitors from around the world to experience the casino's excitement.
- Inspired by Binion's success, other casinos in Las Vegas began hosting major poker tournaments similar to the World Series of Poker, turning Las Vegas into a casino-and-gambling hub for poker enthusiasts from around the globe.
- To pay tribute to its pioneering founder, the Casino noted Binion's struggle against turf wars in Texas and his eventual move to Las Vegas, encouraging visitors to embody the spirit of gambling risk and responsible gameplay, echoing Binion's slogan: "a fair game and fair odds."
