Jack Binion's Net Worth and Career Achievements
Jack Binion, known as a prominent casino owner, has a substantial net worth of $500 million. Born into a legacy of gambling, he is the son of the renowned casino magnate Benny Binion. Jack's immersion in the casino world started at an incredibly young age.
The Rise of Binion's Horseshoe
At just 26, after gaining invaluable experience working alongside his father, Jack Binion ascended to the position of president at Binion's Horseshoe, the iconic Las Vegas casino. This establishment is celebrated for its unprecedented high table limits, and in some instances, the complete absence of table limits on games such as blackjack, roulette, and craps.
Pioneering the World Series of Poker
In 1970, Jack Binion made a historic move by establishing Binion's Horseshoe as the host of the inaugural World Series of Poker (WSOP). This groundbreaking event has since evolved into the premier poker tournament, drawing immense global interest and becoming a pivotal part of poker history.
Transition and New Ventures
In 1998, following a lengthy legal dispute with Benny Binion's other heirs, Jack sold nearly all his interest in the Horseshoe, retaining only 1%. Undeterred, he founded the Horseshoe Gaming Holding Corporation, which operated a series of riverboat casinos under the Horseshoe brand. His business acumen extended beyond this venture, involving collaborations with Harrah's Entertainment, promoting Jack Binion's Steakhouse, and endorsing slot machines titled "Who Wants to be a Billionaire" featuring his likeness.
