Benny Binion Horshoe Club 100pc box of $5 Poker Chips 3586-07_8
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Benny Binion Horshoe Club 100pc box of $5 Poker Chips 3586-07_8:
$214.50
Benny Binion Horshoe Club 100pc box of $5 Poker Chips 3586-07
Binion\'s Gambling Hall & Hotel, formerlyBinion\'s Horseshoe, is a casino in downtownLas Vegas, Nevada, owned by TLC Casino Enterprises. The casino is named for its founder,Benny Binion, whose family ran it from its founding in 1951 until 2004.
Benny Binion bought theEldorado ClubandApache Hotelin 1951, re-opening them asBinion\'s Horseshoe(also called theHorseshoe Casino). He styled it like an old-styleriverboat, with low ceilings and velvet wallpaper. It was the first casino to have carpeting, as well ascomps that were offered to all gamblers. Benny believed that small-time gamblers should get the same comps as those who bet big money. Binion also instituted hightable limits. When he first opened the Horseshoe, he set thecrapstable limit at $500—ten times higher than any other casino in Las Vegas at the time. Ultimately, Binion\'s raised the table limit to $10,000 and even eliminated table limits completely at times, which was an immediate hit.
Binion\'s entire family was involved in the casino. His wife Teddy Jane managed the casino cage until her death in 1994. His sons,JackandTed, supervised the games. His daughter, Becky (later Becky Binion Behnen), managed the kitchen.
Benny served time inLeavenworth Penitentiaryfrom 1953 to 1957 for tax evasion. He sold his share of the casino to fellow gambler Joe W. Brown to pay approximately $5 million in legal costs. It was generally understood, however, that Brown was only a caretaker, and Benny regained controlling interest in 1957. He did not regain full control, however, until 1964.
While Brown operated the casino, he installed the famous $1 million display on the casino floor. He sold the display in 1959 and it was later recreated using 100$10,000 billsby Benny in 1964. The display became one of the casino\'s attractions.
As a convicted felon, Benny was no longer allowed to hold a gaming license, so his sons took over day-to-day control when the family bought out Brown. Jack became president while Ted became casino manager. Benny remained on the payroll as a \"consultant\" until his death in 1989.
In 1970, Jack began hosting theWorld Series of Poker(WSOP) at the Horseshoe.Eventually, the WSOP became the largest set of poker tournaments in the world. In 1988, the Horseshoe expanded by acquiringThe Mint, a high-rise hotel on the west side of the casino. The expansion of the casino from this purchase provided room for Binion\'s firstpoker room.
Ted was under constant scrutiny from theNevada Gaming Commissionfrom 1986 onward for drug problems and associating with known mob figure\"Fat Herbie\" Blitzstein. He would ultimately be banned from even entering his family\'s casino. In 1998, he was stripped of his gaming license for his continued association with Blitzstein. He was forced to sell his 20 percent interest to his younger sister, Becky.
Behnen\'s undoing, however, was a dispute with the unions that represented some of the Horseshoe\'s employees. In November 2002, theCulinary Workers Unionand Bartenders Union filed a complaint with theNational Labor Relations Boardalleging that Behnen hadn\'t signed acollective bargaining agreementand had fallen behind on medical insurance and pension payments. The parties reached a settlement in March 2003 in which the Horseshoe signed the collective bargaining agreement and agreed to pay the owed money. However, the Horseshoe fell behind on its payments, leading a federal judge to issue two separate judgments ordering the Horseshoe to pay over $1.5 million. The judgments gave the union the right to seize the money if regular payments weren\'t being met.
However, the casino stopped making payments in June.After holding off numerous times, on December 5 the Culinary Union obtained a court order authorizing the seizure of up to $1.9 million from the Horseshoe casino cage. The seizure took place on January 9; ultimatelyfederal marshalsand IRSagents seized $1 million in order to satisfy debts owed to the Southern Nevada Culinary and Bartenders Pension Trust Fund and to the Hotel Employees and Restaurant Employees International Union Welfare Fund. The seizure effectively depleted the Horseshoe\'s bankroll, forcing it to close. A day later, the hotel was shut down as well, and Behnen reached an agreement with theNevada Gaming Commissionto keep the casino closed until its bankroll was replenished. A few days later, on January 23, Behnen reached a deal to sell the Horseshoe toHarrah\'s Entertainment.
Days after the purchase by Harrah\'s closed, while retaining the Horseshoe and World Series of Poker brands, they sold the physical property and the Binion\'s brand on March 11, 2004, to MTR Gaming Group.
Binion\'s reopened in April 2004, with MTR Gaming operating the hotel and Harrah\'s Entertainment operating the casino, while MTR Gaming completed the process of acquiring the required gaming license. Harrah\'s continued to operate the casino under a temporary contract until March 11, 2005, when MTR officially took control of the operation of the casino and renamed it Binion\'s Gambling Hall and Hotel.
MTR remodeled both the casino and hotel after the purchase. A notable feature of the remodeling was to replace the casino\'s worn carpet with surplus carpeting that Benny Binion had stored since initially carpeting the casino.
In July 2005, Binion\'s hosted the WSOP main event for the last time. The tournament had outgrown the space at Binion\'s, and Harrah\'s wanted to host it at one of its properties. In 2005, all events, except the final three tables of the main event, were played at theRio All Suite Hotel and Casino. The casino still retains a large poker area and features displays on the Poker Hall of Fame as well as previous WSOP Champions.
On March 7, 2008, MTR sold the hotel-casino to TLC Casino Enterprises, owner of theFour Queens, for $32 million.
The $1 million casino floor display, once a free tourist photo attraction, returned in August 2008. With $10,000 bills no longer widely available, the new display contains 2,700 $100 bills, 34,400 $20 bills and 42,000 $1 bills.
On purchasing Binion\'s, TLC had announced a plan to expand the hotel with a new tower, but on December 14, 2009, they closed the hotel and coffee shop due to thelate-2000s recession. TLC continues to operate the hotel at the Four Queens casino across the street, which has almost twice as many rooms. Previously, Binion\'s advertised the hotel as closed for renovations. However, due to costly removal ofasbestosin the hotel preventing its renovation,there are no current plans to renovate and re-open the hotel. Indeed, currently the check-in counter only houses discount T-shirt sales.
In 2005, the outside of the hotel (along with its famous former \"Horseshoe\" logo) is featured prominently in the videoSnoop Dogg\'s 2005 single, \"Signs\" featuringJustin Timberlake.
The hotel was seen in the 2007 filmLucky You. Its history was also mentioned in \"Chum Goes AWOL\", a second season episode of theHistory Channel reality televisionseriesPawn Stars, which aired in 2010.
A reality series,Casino Confidentialwhich airs onDTour, gives a behind the scenes look at the Binion casino.
Binion\'s Gambling Hall & Hotel, formerlyBinion\'s Horseshoe, is a casino in downtownLas Vegas, Nevada, owned by TLC Casino Enterprises. The casino is named for its founder,Benny Binion, whose family ran it from its founding in 1951 until 2004.
Benny Binion bought theEldorado ClubandApache Hotelin 1951, re-opening them asBinion\'s Horseshoe(also called theHorseshoe Casino). He styled it like an old-styleriverboat, with low ceilings and velvet wallpaper. It was the first casino to have carpeting, as well ascomps that were offered to all gamblers. Benny believed that small-time gamblers should get the same comps as those who bet big money. Binion also instituted hightable limits. When he first opened the Horseshoe, he set thecrapstable limit at $500—ten times higher than any other casino in Las Vegas at the time. Ultimately, Binion\'s raised the table limit to $10,000 and even eliminated table limits completely at times, which was an immediate hit.
Binion\'s entire family was involved in the casino. His wife Teddy Jane managed the casino cage until her death in 1994. His sons,JackandTed, supervised the games. His daughter, Becky (later Becky Binion Behnen), managed the kitchen.
Benny served time inLeavenworth Penitentiaryfrom 1953 to 1957 for tax evasion. He sold his share of the casino to fellow gambler Joe W. Brown to pay approximately $5 million in legal costs. It was generally understood, however, that Brown was only a caretaker, and Benny regained controlling interest in 1957. He did not regain full control, however, until 1964.
While Brown operated the casino, he installed the famous $1 million display on the casino floor. He sold the display in 1959 and it was later recreated using 100$10,000 billsby Benny in 1964. The display became one of the casino\'s attractions.
As a convicted felon, Benny was no longer allowed to hold a gaming license, so his sons took over day-to-day control when the family bought out Brown. Jack became president while Ted became casino manager. Benny remained on the payroll as a \"consultant\" until his death in 1989.
In 1970, Jack began hosting theWorld Series of Poker(WSOP) at the Horseshoe.Eventually, the WSOP became the largest set of poker tournaments in the world. In 1988, the Horseshoe expanded by acquiringThe Mint, a high-rise hotel on the west side of the casino. The expansion of the casino from this purchase provided room for Binion\'s firstpoker room.
Ted was under constant scrutiny from theNevada Gaming Commissionfrom 1986 onward for drug problems and associating with known mob figure\"Fat Herbie\" Blitzstein. He would ultimately be banned from even entering his family\'s casino. In 1998, he was stripped of his gaming license for his continued association with Blitzstein. He was forced to sell his 20 percent interest to his younger sister, Becky.
Behnen\'s undoing, however, was a dispute with the unions that represented some of the Horseshoe\'s employees. In November 2002, theCulinary Workers Unionand Bartenders Union filed a complaint with theNational Labor Relations Boardalleging that Behnen hadn\'t signed acollective bargaining agreementand had fallen behind on medical insurance and pension payments. The parties reached a settlement in March 2003 in which the Horseshoe signed the collective bargaining agreement and agreed to pay the owed money. However, the Horseshoe fell behind on its payments, leading a federal judge to issue two separate judgments ordering the Horseshoe to pay over $1.5 million. The judgments gave the union the right to seize the money if regular payments weren\'t being met.
However, the casino stopped making payments in June.After holding off numerous times, on December 5 the Culinary Union obtained a court order authorizing the seizure of up to $1.9 million from the Horseshoe casino cage. The seizure took place on January 9; ultimatelyfederal marshalsand IRSagents seized $1 million in order to satisfy debts owed to the Southern Nevada Culinary and Bartenders Pension Trust Fund and to the Hotel Employees and Restaurant Employees International Union Welfare Fund. The seizure effectively depleted the Horseshoe\'s bankroll, forcing it to close. A day later, the hotel was shut down as well, and Behnen reached an agreement with theNevada Gaming Commissionto keep the casino closed until its bankroll was replenished. A few days later, on January 23, Behnen reached a deal to sell the Horseshoe toHarrah\'s Entertainment.
Days after the purchase by Harrah\'s closed, while retaining the Horseshoe and World Series of Poker brands, they sold the physical property and the Binion\'s brand on March 11, 2004, to MTR Gaming Group.
Binion\'s reopened in April 2004, with MTR Gaming operating the hotel and Harrah\'s Entertainment operating the casino, while MTR Gaming completed the process of acquiring the required gaming license. Harrah\'s continued to operate the casino under a temporary contract until March 11, 2005, when MTR officially took control of the operation of the casino and renamed it Binion\'s Gambling Hall and Hotel.
MTR remodeled both the casino and hotel after the purchase. A notable feature of the remodeling was to replace the casino\'s worn carpet with surplus carpeting that Benny Binion had stored since initially carpeting the casino.
In July 2005, Binion\'s hosted the WSOP main event for the last time. The tournament had outgrown the space at Binion\'s, and Harrah\'s wanted to host it at one of its properties. In 2005, all events, except the final three tables of the main event, were played at theRio All Suite Hotel and Casino. The casino still retains a large poker area and features displays on the Poker Hall of Fame as well as previous WSOP Champions.
On March 7, 2008, MTR sold the hotel-casino to TLC Casino Enterprises, owner of theFour Queens, for $32 million.
The $1 million casino floor display, once a free tourist photo attraction, returned in August 2008. With $10,000 bills no longer widely available, the new display contains 2,700 $100 bills, 34,400 $20 bills and 42,000 $1 bills.
On purchasing Binion\'s, TLC had announced a plan to expand the hotel with a new tower, but on December 14, 2009, they closed the hotel and coffee shop due to thelate-2000s recession. TLC continues to operate the hotel at the Four Queens casino across the street, which has almost twice as many rooms. Previously, Binion\'s advertised the hotel as closed for renovations. However, due to costly removal ofasbestosin the hotel preventing its renovation,there are no current plans to renovate and re-open the hotel. Indeed, currently the check-in counter only houses discount T-shirt sales.
In 2005, the outside of the hotel (along with its famous former \"Horseshoe\" logo) is featured prominently in the videoSnoop Dogg\'s 2005 single, \"Signs\" featuringJustin Timberlake.
The hotel was seen in the 2007 filmLucky You. Its history was also mentioned in \"Chum Goes AWOL\", a second season episode of theHistory Channel reality televisionseriesPawn Stars, which aired in 2010.
A reality series,Casino Confidentialwhich airs onDTour, gives a behind the scenes look at the Binion casino.
Poker Chips are $5 in denomination.
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Benny Binion Horshoe Club 100pc box of $5 Poker Chips 3586-07_8:
$214.50