What is Benny Binion's Net Worth?
Benny Binion, an impactful American businessman, entrepreneur, and mob boss, possessed a notable net worth of $75 million at the time of his death in 1989.
Early Life and Ventures
Benny Binion was born in Grayson County, Texas, in November 1904. At the age of 17, he relocated to El Paso, Texas, where he began his initial ventures into moonshining and gambling. His criminal activities included convictions for moonshining and in 1931, the murder of an African American rum-runner named Frank Bolding. Binion also killed Ben Frieden to take control over gambling operations in Dallas, Texas.
Reign in Dallas
During the early 1940s, Benny Binion emerged as the predominant mob boss in Dallas. His influence extended to Fort Worth, Texas, where he dominated the gambling scene. In 1946, facing pressure, Binion fled to Las Vegas, Nevada, posting a reward for the scalp of rival Herb Noble.
Life in Las Vegas
Benny Binion made significant business moves in Las Vegas. In 1951, he purchased the building that had housed the Las Vegas Club and transformed it into the Westerner Gambling House and Saloon. Additionally, he acquired the Eldorado Club and the Apache Hotel, converting them into Binion's Horseshoe casino.
Legal Troubles and the Horseshoe Casino
Benny lost his gambling license in 1951 and was sentenced to five years in prison for tax evasion in 1953. Despite these setbacks, his family regained control of the Horseshoe Casino after he was compelled to sell his share to cover $5 million in legal expenses. Benny was subsequently barred from obtaining a gambling license.
Personal Life and Legacy
Married to Teddy Jane, Benny and his wife had five children. He passed away on December 25, 1989, at the age of 85 due to heart failure. His legacy was cemented with his 1990 induction into the Poker Hall of Fame. The book, Blood Aces: The Wild Ride of Benny Binion, the Texas Gangster Who Created Vegas Poker, published in 2014, chronicles his complex life.
Benny Binion in 1952 (Getty)
