Binion's Casino Sale Approved to Terry Caudill

Now that Caudill has bought the legendary casino, perhaps a whiff of the old days may return.

Once upon a time, Las Vegas was a city of cheesy charm; strange characters roamed the casinos and the streets, slot machine trays rang with the sound of spilling coins, and the very air seemed filled with unlimited possibilities. As years passed, the city evolved, and soulless, corporate excess and glitz took over; the Strip is now largely the playground of the privileged class, and average folk are looked down upon even as their wallets are sucked dry. 

But perhaps a faint spark of light from the good old days still burns, and may even be spreading. The storied Binion's Gambling Hall and Hotel, or Binion's Horseshoe to those who loved the joint before Harrah's swallowed it and renamed it, has been approved for sale to Terry Caudill.

Caudill is the owner of the Four Queens Casino, located downtown across Fremont Street from Binion's. He was given the ok this week by the Nevada Gaming Commission to take over Binion's, and hopes to turn the business around the way he has with the Four Queens, which has gone from $5 million to $12 million in profit annually since Caudill took over in 2003. 

Caudill plans to spend about $10 million renovating Binion's. He also emphasizes the importance of local ownership, someone who is actually among the players and hotel guests, walking the floor, seeing what they see. Caudill is old Vegas, having worked his way up from a position as a craps dealer, and running several Vegas restaurants before the Queens. He understands the historical importance of Binion's.

Benny Binion was one of the true Vegas characters. His casino was famed for accepting bets on anything imaginable; no plays were turned away. Benny would wander the lobby and casino areas in his famous floor-length coat and cowboy hat, personally greeting customers, treating everyone like life-long friends.

Benny had opened his own joint after leaving a partnership in the Las Vegas Club over a dispute on betting limits. At the Horseshoe, Binion covered any bet, no matter how high. He was the first to give free drinks and generous comps to all players, not just high-rollers, the first to pick up airport arrivals in limos, and the creator of the World Series of Poker.

After Benny's death in 1989, first his sons Ted and Jack, and later his daughter Becky ran Binion's. Becky's stewardship was so poor, in 2004 the IRS raided and closed the casino for non-payment of taxes. The casino was sold to Harrah's, which stripped the property of the World Series and then sold it to MTR Gaming Group of West Virginia. 

Now that Caudill has bought the legendary casino, perhaps a whiff of the old days may return. It will never be the same, but happy gamblers who feel appreciated would be a touch missed the last few years. What does that sign say? Two-dollar New York Strip?? Somewhere Benny's ghost is smiling.