Binion's Horseshoe |
128 Fremont Street |
est. 1951 |
![]() Photos from the Mark Englebretson Collection |
![]() "Poker Buddies in the 60's" left to right, Johnny Moss, Chill Wills, Amarillo Slim, Jack Binion and "Puggy" Pearson |
BINION'S HORSESHOE And the man that built an empire By H. Richard Greeno There are many stories that can be told about Benny Binion. He was a man that changed the way Las Vegas did gambling. Binion was a man of many firsts for Las Vegas, such as, putting carpet in a casino, first to offer free drinks to slot players, and the first to have limousines to pick up customers at the airport. Benny was, also, the first to set the craps limit at $500.00 (10 times the maximum at other casinos). Over Binion's career in Las Vegas, he pushed the limits upwards. Benny didn't care what you bet as long as it was on the first bet. William L. Bergstrom asked if he could bet one million, and he was told yes. A few months later, he showed up with $777,000, stating he was sorry that he couldn't raise the whole million. The money was never converted to chips, but the suitcase was laid on the "Don't Pass" line. The woman, holding the dice, sevened out in three rolls. Bergstrom was counted $777,000, then Benny's son, Ted, escorted Bill to his car. Bill was so nervous, he drove out the wrong way. Over the next few years, he would come back to make a $590,000 bet, a $190,000 bet, and a $90,000 bet, which he won all three times. Then, in November of 1984, he came back with a million dollars. He bet it on the "Don't Pass" line. It was a come out roll and the shooter wanted a seven. The dice came out "ace six" and it was over in one roll for Bergstrom. A few months later, William Bergstrom committed suicide. By this time, Binion's Horseshoe was becoming a household name, not only for gambling and the home of the World Series of Poker, but also for its fantastic steaks and chili, and where else could you go and have your picture taken with a million dollars. Where did this man come from, that created Binion's Horsseshoe and promoted so many changes in Las Vegas? He was born November 20, 1904 Lester, Ben, (Benny) Binion, in Grayson County, Texas. He was very ill as a child and accompanied his father on horse trading journeys. The outdoor life set well with him and restored his health. Benny never attended school, but grew up in the school of hard knocks, becoming a skilled gambler and horse trader. He moved to El Paso, when he was 17, and began to moonshine and opened up numbers games. By 1922, he finally made Dallas his home, running crap games in the hotels and policy games. Benny's power and wealth grew until Dallas became too hot of a town to stay in, so in the early days of 1947, Benny and his family headed to Las Vegas, with well over two million dollars. In Las Vegas, Benny became a partner in the Las Vegas Club, but left after disagreements about the limits on bets. In 1951, he purchased the building, which had previously housed the Las Vegas Club, and opened the Westerner Gambling House and Saloon. Then, Shortly afterwards, he purchased the Eldorado Club and Apache Hotel, and this became the start of Binion's Horseshoe. He had a simple philosophy, "Good Food, Good Whiskey, Good Gamble", which made the Horseshoe the most profitable casino in town at the time. From 1953 to 1957, Joe Brown took over the operation, while Benny served time in Leavenworth Penitentiary for tax evasion. In 1957, his family regained controlling interest and complete control in 1964. Although Benny Died on December 25, 1989, the casino remained in the family until 2004, when the IRS raided it for non-payment of taxes. The casino was sold shortly afterwards to Harrah's and now operates as Binion's. It was just purchased, in 2008, by the TLC Casino Enterprises, which also owns the Four Queens Hotel and Casino. Benny was a man that created tourist attractions and personally became one - a legend that people still talk and write about. His family donated a life-size statue of Benny on a horse. It stands at the corner of 2nd Street and Ogden Avenue in downtown Las Vegas. Even if there were no statue, how could you forget such a colorful person like Benny Binion. He will always be remembered as the man who helped mold and shape the future of Las Vegas. At his funeral, Steve Wynn said "He was either the toughest gentleman I ever knew or the gentlest tough person I ever met." U.S. Senator Harry Reid said, "He's my hero. Nevada is a better place because of him." |
Horseshoe Club, 1951-2006: (Binion’s Horseshoe Club) In 1951 Lester “Benny” Binion opened the Horseshoe Club. Benny’s philosophy was “If ya wanta get rich, make little people feel like big people.” Putting that thought into practice, the Horseshoe was the first casino to offer free drinks to slot players. Under Benny’s leadership, the Horseshoe prospered. While the other casinos preferred to keep betting limits low, the Horseshoe would accept any size bet—as long as it was the first bet made. In 1949 Benny hosted a poker game between Johnny Moss and “Nick the Greek” Dondolos. After five months, Johnny Moss finally won the game and an estimated $2 million. Benny trained his sons, Jack and Ted, to follow in his footsteps. Due to his unfortunate choice of friends, Ted lost his gaming license and was later murdered. Jack successfully ran the Horseshoe for many years, and opened more Horseshoes in other gaming jurisdictions. In 1998 Jack sold most of his interest in the Las Vegas Horseshoe to his sister Becky Behnen. After years of apparent financial problems, in 2004 the IRS closed the Horseshoe. A few months later the Horseshoe was sold to a group that included MTR Gaming and Harrah’s. Harrah’s managed the Horseshoe for a year, then sold their shares to MTR Gaming, but Harrah’s retained the right to the Horseshoe name and to the World Series of Poker. Joe W. Brown’s Horseshoe Club, 1953-1957: When Benny Binion was serving time in Leavenworth, for income tax evasion (while still in Texas), he turned his Horseshoe Club over to his friend Joe W. Brown. Brown put his name on nearly everything…matches, dice, ashtrays, casino signage, and even the million-dollar display. Chips were the one thing that his name wasn’t on. There was a series of hot stamped chips that were ordered from the HC Edwards Company with Binion’s name on them. These chips had “inion” scratched off, leaving “B----‘s”, and these were the chips used during the Joe W. Brown era of the Horseshoe. Binion’s, 2005-present: When Harrah’s left the downtown market, they took The Horseshoe name with them. After 55 years The Horseshoe is now known as Binion’s. |
First published in the Casino Chip and Token News Magazine, Volume 19, Fall 2006 issue. Casino Chip and Tokens News is the official publication of The Casino Chip and Gaming Token Collectors Club, Inc. Special Permission was granted to reprint this information. All rights are reserved by the CCGTCC. If interested in joining this fascinating collecting field and receiving the clubs award winning magazine, go to www.ccgtcc.com and select membership. |