Binion's Gambling Hall and Hotel
Casino and hotel in Las Vegas
Last updated August 31, 2026
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Overview
Binion's Horseshoe is the historic casino brand established by Benny Binion in downtown Las Vegas in 1951. The property began when Binion acquired the Eldorado Club and Hotel Apache and reopened them as Binion's Horseshoe, also known simply as the Horseshoe. Its identity was built around gambling rather than entertainment spectacle. The casino used a deliberately frontier-inspired interior, introduced carpeting in place of the sawdust floors then common in downtown casinos, and became known for offering complimentary benefits to ordinary gamblers instead of reserving them exclusively for high rollers. Binion also promoted unusually high table limits, beginning with a $500 craps limit—far above prevailing Las Vegas levels—and later allowing limits of $10,000 or, at times, no formal limit at all. This created a distinctive reputation for direct, high-stakes play. The Binion family controlled the property for more than five decades. Benny Binion's sons Jack and Ted became central to casino operations, while his wife Teddy Jane handled the books for many years. Benny's criminal conviction for tax evasion temporarily complicated his licensing position and led to a period in which Joe W. Brown held a majority interest. Binion regained control in stages, with the family eventually directing daily operations through his sons. Jack Binion later became the property's president, while Ted served as casino manager. Regulatory scrutiny surrounding Ted intensified in the late 1980s and 1990s, and he ultimately lost his gaming license and sold his interest to his sister Becky Behnen. The property became particularly important to poker history. In 1970, Jack Binion began hosting the World Series of Poker at the Horseshoe. The event grew from a small gathering into the world's leading poker tournament series, while the casino developed a strong association with poker culture, championship displays and the Poker Hall of Fame. The 1988 acquisition of the neighboring Mint hotel and casino expanded the site and created space for the Horseshoe's first dedicated poker room. The property hosted the World Series of Poker main event for the final time in 2005, after the tournament had outgrown its facilities and its operator, Harrah's Entertainment, moved most of the event to the Rio. Becky Behnen took control in 1998 after a family and ownership dispute with Jack Binion. Her administration introduced cost reductions that alienated some customers and employees, including the removal of the famous million-dollar cash display and the closure of a popular restaurant. The casino also encountered disputes over gaming funds, union obligations and benefit payments. In January 2004, federal marshals and IRS agents seized approximately $1 million from the casino cage to satisfy union-related judgments. The resulting loss of working bankroll forced the casino to close temporarily and accelerated its sale. Harrah's acquired the operation in 2004 but sold the physical property and the Binion's brand shortly afterward to MTR Gaming Group, retaining the Horseshoe and World Series of Poker brands. The property reopened under a transitional operating arrangement before MTR assumed direct control and adopted the name Binion's Gambling Hall and Hotel. MTR later sold the property in 2008 to TLC Casino Enterprises, which also owned the nearby Four Queens. TLC continues to operate the casino. The full hotel closed in 2009 during the recession and amid expensive renovation and asbestos-removal issues. In 2019, 81 rooms reopened as Hotel Apache, a boutique lodging concept using vintage-style furnishings inspired by the original Hotel Apache. Today, Binion's remains a Fremont Street casino centered on table games, slots, poker heritage, food and beverage, and its distinctive downtown Las Vegas identity. The million-dollar display, rebuilt with modern denominations, returned in 2023 after a pandemic-related closure.
History
Benny Binion opened Binion's Horseshoe in 1951 after acquiring the Eldorado Club and Hotel Apache in downtown Las Vegas. The property developed a frontier-themed atmosphere and a gaming-first operating model. It was among the first downtown casinos to replace sawdust floors with carpeting and to offer complimentary benefits broadly to gamblers rather than limiting them to major bettors. Its most defining commercial innovation was the use of exceptionally high table limits. The opening craps limit of $500 was reportedly ten times the prevailing limit elsewhere in Las Vegas, and the casino later raised limits to $10,000 or removed them altogether on some occasions. Binion's own legal history affected the ownership structure. After being convicted of tax evasion, he served time in federal prison from 1953 to 1957 and sold a majority stake to Joe W. Brown to meet tax and legal obligations. Brown operated as a temporary holder in the family's view. Benny regained a controlling position in 1957 and completed the recovery of family control in 1964. Because his felony conviction prevented him from holding a gaming license, his sons assumed operational responsibilities. Jack became president and Ted became casino manager, while Benny worked in a public-relations role. The family maintained a highly personal style of management, with the casino's identity closely connected to its founder. Jack Binion made the property a central institution in modern poker. Beginning in 1970, the Horseshoe hosted the World Series of Poker. The tournament eventually became the largest and most prominent poker tournament series in the world. In 1988, the Horseshoe acquired the neighboring Mint high-rise hotel, adding physical capacity and room for the property's first poker room. Poker became inseparable from the brand's reputation, even after the event moved elsewhere. Ted Binion's management role came under sustained regulatory scrutiny from 1986 onward because of drug-related concerns and his association with organized-crime figure Anthony “Fat Herbie” Blitzstein. He was eventually barred from entering the casino and lost his gaming license in 1998. He sold his 20 percent interest to his younger sister Becky. In the same year, Becky Behnen obtained control after a prolonged dispute with Jack. Jack was bought out but retained a one-percent interest connected to his Nevada gaming license, and he subsequently concentrated on Horseshoe Gaming Holding Corporation and other Horseshoe-branded casinos. Behnen's management pursued cost reductions that proved unpopular with customers and employees. The million-dollar cash display was removed and sold, a restaurant was closed, and changes were made to the treatment of World Series of Poker entry-fee proceeds. The property also faced allegations and findings involving insufficient cash available to pay winners and disputes over the redemption of casino tokens. At the same time, labor relations deteriorated. In 2002, the Culinary Workers Union and Bartenders Union brought a complaint concerning a collective bargaining agreement and unpaid medical and pension obligations. A 2003 settlement required the casino to sign the agreement and pay arrears, but the casino subsequently fell behind again. Court judgments authorized seizure of funds, and on January 9, 2004, federal marshals and IRS agents seized about $1 million from the casino cage for union-related benefit debts. The depleted bankroll forced the casino and hotel to close. The property was sold to Harrah's Entertainment in 2004. Harrah's then sold the physical property and Binion's brand to MTR Gaming Group, retaining the Horseshoe and World Series of Poker trademarks. Binion's reopened in April 2004, initially with Harrah's operating the casino under a temporary arrangement while MTR completed its licensing process. MTR took over direct operation in March 2005 and used the name Binion's Gambling Hall and Hotel. It remodeled the property, including replacing worn carpeting with surplus carpet stored by Benny Binion decades earlier. The 2005 World Series of Poker was the final edition hosted at Binion's. Most events had already moved to the Rio because of the tournament's growth, with only the final three tables of the main event remaining at Binion's that year. The casino retained a substantial poker area and displays devoted to the Poker Hall of Fame and previous champions. In 2008, MTR sold the property to TLC Casino Enterprises, owner of the nearby Four Queens. TLC had planned a hotel expansion, but the hotel and coffee shop closed in 2009 during the recession. Renovation plans were later shelved because asbestos removal was too costly. TLC eventually reopened 81 rooms as Hotel Apache on July 29, 2019, using vintage-style furnishings that referenced the earlier Hotel Apache. The casino's million-dollar display also returned in 2008 in a redesigned form using smaller denominations, closed during pandemic health restrictions in 2020, and reopened in 2023. Binion's continues to operate on Fremont Street as a historic casino and hospitality venue.
- 2023
Million-dollar display returns
[1]The reconstructed cash display returned after being closed during the COVID-19 pandemic.
- 2019
Hotel Apache opens
[1]Eighty-one rooms reopened as a boutique hotel inspired by the original Hotel Apache.
- 2009
Full hotel closes
[1]The hotel and coffee shop closed during the recession, and planned renovation work was later abandoned.
- 2008
TLC Casino Enterprises acquires Binion's
[1]TLC purchased the hotel-casino from MTR Gaming Group.
- 2005
MTR assumes direct operation
[1]MTR completed its licensing process and renamed the property Binion's Gambling Hall and Hotel.
- 2005
Final World Series of Poker main event at Binion's
[1]The tournament outgrew the property and moved primarily to the Rio.
- 2004
Harrah's acquires and then sells the property
[1]Financial and labor problems led to a sale to Harrah's, which then sold the physical property and Binion's brand to MTR Gaming Group.
- 1998
Becky Behnen takes control
[1]Following a family ownership dispute, Becky Behnen acquired control and became president.
- 1988
The Mint is acquired
[1]The Horseshoe expanded by acquiring the neighboring Mint, creating additional casino space and the first dedicated poker room.
- 1970
World Series of Poker begins at the Horseshoe
[1]Jack Binion began hosting the event that later became the world's leading poker tournament series.
Products and positioning
A historic, gambling-led downtown Las Vegas casino emphasizing its Binion family heritage, high-limit gaming tradition and foundational role in poker history.
Gaming · 1951
Casino gaming
The core offering consists of casino table games and slot machines in the Fremont Street property. Binion's historic gaming proposition emphasizes the floor rather than headline entertainment, drawing on Benny Binion's tradition of high limits, broad player comps and a direct, gambling-centered atmosphere.
Poker · 1970
Poker room and poker heritage attractions
Binion's poker identity derives from the World Series of Poker, which Jack Binion began hosting at the property in 1970. Although the tournament later moved to larger venues, the casino retains poker facilities and displays connected with the Poker Hall of Fame and past champions.
Boutique hotel · 2019
Hotel Apache
Hotel Apache is the boutique lodging operation created from 81 rooms in the former Binion's hotel. Opened in 2019, it uses vintage-style furnishings and design references associated with the original Hotel Apache, while operating as a smaller alternative to the property's former full hotel.
Casino attraction · 1959
Million-dollar display
The display is a prominent visitor attraction associated with Binion's history. The original exhibit used large-denomination bills; the later reconstruction used a combination of $100, $20 and $1 bills. It was closed during pandemic health restrictions and returned in 2023.
Controversies
2004
Casino-cage seizure and closure
After the casino failed to meet union-related payment obligations, a court authorized seizure of funds. Federal marshals and IRS agents seized approximately $1 million from the casino cage, depleting the bankroll and forcing the casino and hotel to close.
2002
Labor and benefit-payment dispute
The Culinary Workers Union and Bartenders Union filed a complaint alleging that the casino had not signed a collective bargaining agreement and had fallen behind on medical and pension payments. A settlement was reached in 2003, but payment arrears continued.
1998
Ted Binion licensing and association controversy
Ted Binion faced prolonged scrutiny from Nevada gaming regulators over drug problems and his association with organized-crime figure Anthony “Fat Herbie” Blitzstein. He was barred from entering the casino and lost his gaming license in 1998.
Brand decisions
2019
Reopen selected rooms as Hotel ApacheProduct launchBackground
The full hotel had been closed since 2009, and large-scale renovation was complicated by recession-era conditions and asbestos-removal costs.
Action taken
TLC reopened 81 rooms as a vintage-themed boutique hotel called Hotel Apache.
Aftermath
The property regained a limited lodging component without restoring the former 366-room hotel.
2005
Move the World Series of Poker to larger facilitiesStrategyBackground
The tournament had outgrown Binion's available space, and Harrah's sought to host it at one of its larger resorts.
Action taken
Most World Series of Poker events moved to the Rio, with the final three tables of the 2005 main event remaining at Binion's.
Aftermath
Binion's ceased to host the main event after 2005 but retained poker facilities and historical displays.
2004
Sell Binion's after financial distressM&ABackground
Labor judgments, unpaid benefit obligations and the resulting casino-cage seizure depleted the property's bankroll and made continued family operation untenable.
Action taken
The Binion family reached an agreement to sell the Horseshoe to Harrah's Entertainment.
Aftermath
Harrah's soon sold the physical property and Binion's brand to MTR Gaming Group, while retaining the Horseshoe and World Series of Poker brands.
1988
Acquire the Mint to expand the propertyStrategyBackground
The original casino required more space as the operation and its poker activities developed.
Action taken
The Horseshoe acquired the neighboring Mint high-rise hotel and casino.
Aftermath
The acquisition expanded the casino footprint and provided room for Binion's first poker room.
1970
Launch the World Series of Poker at the HorseshoeProduct launchBackground
Jack Binion used the casino's gambling-led identity and poker facilities to establish a tournament that initially operated on a much smaller scale than its later international form.
Action taken
The Horseshoe began hosting the World Series of Poker, making the property a lasting center of poker culture.
Aftermath
The event grew into the world's leading poker tournament series and permanently linked the Binion's name with competitive poker.
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