Horseshoe Club – Las Vegas – $100 Vintage Casino Chip – Rare, Collectible
Arodie Mold.
In 1951, that larger than life Texan, Benny Binion-having got a good taste of gaming in Las Vegas as a partner of Kell Houssels, Sr. bought the Eldorado Club and renamed it the Horseshoe Club.
Breaking with traditional “sawdust joint” interior, Binion installed carpet. The Binion family went to work to make the Horseshoe Club the go-to casino on Fremont Street. Wife Teddy Jane handled the books while sons Jack and Ted worked the floor. Benny and Doby “Doc” Cahill were good buddies and could often be found eating the Shoe’s famous chili in the coffee shop at lunchtime.
Benny had left Texas, some say under rather hurried circumstances, and there is ample evidence that Benny had been involved in illegal bootlegging, gaming, and the mob back in Texas. These connections made it difficult for Binion to get licensed but he finally pulled it off. He offered southern hospitality and high-limit gaming and the Horseshoe was doing a land office business when in 1953, the Feds got him for tax problems. Before “he went to college” (the locals speak for him doing jail time), Benny sold the Horseshoe to Joe W. Brown. While Binion was in prison, Joe W Brown had his own name put on the facade though everyone knew that when he got released Benny would buy back the Horseshoe.
Benny was away at “college” for four years, and when he returned he bought back the Horseshoe. It wouldn’t be until 1964, though, that he owned 100% of it. He removed Joe W. Brown’s name from the facade and hired Yesco to design a neon facade for the building. Because of his stint in prison, Benny was never issued a new gaming license but he was understood to be the man in charge of the Horseshoe.
Benny was known to be a hard man and did not tolerate cheats. Stories abound of his largesse and of his temper. Just as many stories abound of punishment of those he felt had cheated while playing at the Horseshoe. He was widely known for accepting all bets. He conducted business out of his office, the booth in the Horseshoe restaurant. His recipe for success: “If you wanna get rich, make little people feel like big people… good food cheap, good whiskey cheap, and a good gamble. That’s all there is to it, son.”
In 1970, Benny made news by hosting the first World Series of Poker. Unlike today’s tournament, this was a small, but very elite group of poker players who made their living at playing the game professionally. Benny also had a million dollars encased in an oversized horseshoe shape and put it on display. People came from around the world to have their pictures taken standing next to the display.
In 1988, the Binion family bought the Mint and expanded the Horseshoe so that it took up the entire block. Benny passed away on Christmas Day, 1989. Despite all the stories and whispers about him, he was honored, along with Moe Dalitz, as one of the most philanthropic men of his era.
Jack Binion continued to run the Horseshoe until 1998 when in a dispute with his sister, Becky, he surrendered control of the casino. Jack went to the South and opened Horseshoe Clubs in Shreveport and Tunica as well as in Hammond, Indiana. Becky, unlike her brother, seemed to have little skill at running the Horseshoe. She sold off the Million Dollar Display and finally in 2004, the Horseshoe in bankruptcy, she sold the family business to Harrah’s Entertainment. Harrah’s had bought Jack Binion’s Horseshoe Clubs as well. Harrah’s sold the Horseshoe building to MTR Gaming but kept the rights to the Horseshoe Club name. MTR hired Federal Heath Sign Company to redesign the neon facade. Neon designer Brian “Buzz” Leming was the designer and the Horseshoe was rechristened Binion’s. While the bullnose on the corner was off, you could see the Hotel Apache facade still there behind it.
Teddy Jane Binion passed away several years back. Son Ted was the victim of a sensational murder and the subsequent trial made headlines for months. A statue of Benny Binion on horseback stands near the hotel today. The Binion family ranch and house on Bonanza and Rancho are still standing though vacant and boarded up.
