Binion’s Horseshoe Hotel and Casino, located in Las Vegas, is best known for its casino and its rich history. It attracted over 1,000 customers to its reopening in April 2004. The remodeled hotel, now owned by MTR Gaming Group, opened to a lot of excitement. The opening included showgirls from Harrah’s and the Rio, and the “Keystone Boys Choir” from Philadelphia. After the ribbon-cutting ceremonies, people in attendance couldn’t wait to get to the tables and slots.

Binion’s, named for its founder Benny Binion, opened its doors in 1951. Designed to look like a riverboat, the hotel had velvet wallpaper, low ceilings, and soft lights. Benny, his wife Teddy Jane, sons Jack and Ted, and daughter Becky were all involved in running the hotel. Binion’s Horseshoe offered comps to all gamblers, no matter what the stakes were. It also offered higher table limits than you could find at other casinos in Las Vegas. Gambling was the key attraction – not entertainment.

Benny’s life was threatened because of raising the stakes for gambling to ten times higher than at other casinos. Instead of backing down, he doubled the odds on the craps tables. In his casino, there were no private pits for the wealthy. Everyone was given an equal chance to win.

After Benny was sent to Leavenworth for four years for not paying taxes, his sons were in charge of running the hotel. While in prison, Benny sold his share of the casino to Joe W. Brown, a gambler, so that he could pay his legal costs. Although Benny could no longer hold a gaming license after his release, he was kept on the payroll as a “consultant” until his death in 1989. Teddy Jane died in 1994, and the estate was divided between their sons and daughters. Jack was given 43 percent, Ted 20 percent, and Becky and her sister Brenda each got 19 percent.

The Binion family had a lot of internal problems. The Nevada Gaming Commission was keeping watch on Ted Binion, because of his problems with drugs. He was also friendly with “Fat Herbie” Blitzstein, a gangster. Ted was eventually kept from even entering the casino. In 1998, his gaming license was taken away, and he had to sell his interest of twenty per cent to his sister, Becky. After a long legal battle with her brother Jack, Becky and her husband Nick took over the hotel. Jack kept a very small interest in the hotel, so that he could keep his gaming license. He was no longer involved with Binion’s.

Unfortunately, Becky and her husband Nick lacked experience in the day-to-day operations of the hotel. She tried cutting costs, but gamblers were unhappy with her decision. She decided to do away with an exhibit that Binion’s was known for, which held $1 million in $10,000 bills, and to close one of the most popular restaurants in the casino. The Horseshoe, which had been extremely profitable when her father and brothers ran it, was now in debt. After the hotel was forced to close in January 2004, Becky and Rick sold it to Harrah’s Entertainment, who then sold the hotel to MTR Gaming Group.

The World Series of Poker Tournaments has been held at the Horseshoe Hotel since 1970. Many of us are familiar with WSOP Tournaments on television, especially the Texas Hold`Em Tournaments. These tournaments are still taking place at Binion’s, and are attracting many customers who only want to gamble. There are so many other hotels in Las Vegas to go to for entertainment, but Binion’s is the place to be for gaming.