Jack Binion Biography
Jack Binion is a businessman from the United States. His Steak honors the Binion legacy with an acclaimed menu of steaks cooked to perfection in an 1800-degree double broiler.
How old is Jack Binion? – Age
He is 85 years old as of 21 February 2022. He was born in 1937 in Dallas, Texas, United States. His real name is Jack Benny Binion.
Jack Binion Family
He is the brother to Ted Binion, Becky Binion, Brenda Binion, and Barbara Binion, who are also into the family business. His parents are Benny Binion, and Teddy Jane. His father was a well-known casino magnate who died of heart failure on December 5, 1989, in Las Vegas, at the age of 85. “He was either the gentlest bad guy or the baddest good guy you’d ever seen,” poker legend “Amarillo Slim” Preston suggested as an epitaph. In 1990, he was inducted into the Poker Hall of Fame posthumously.
Jack Binion Steakhouse
His name appears on the “Jack Binion’s Steakhouse” at Horseshoe Tunica and Horseshoe Hammond as of 2008, and several Horseshoe-branded casinos still carry slot machines bearing Binion’s likeness called “Who Wants To Be A Binionaire?” that originated prior to the Harrah’s acquisition.
Jack Binion Net Worth
He has an estimated net worth of $500 Million.
What casinos does Jack Binion own?
Today, Jack’s Horseshoe Gaming LLC announced the acquisition of Empress Entertainment, the largest casino operator in the Chicago area. Binion’s $600 million purchase, which includes the assumption of Empress debt, places it in the country’s fourth-largest gambling market after Las Vegas, Atlantic City, and Mississippi.
firmly held Empress, based in Joliet, owns riverboat casinos in both Joliet and Hammond, Indiana. It and Harrah’s Entertainment are the only casino operators in the Chicago area that have two casinos rather than one. Overcapacity and high gaming taxes in Illinois have harmed the market.
Binion’s company, Horseshoe, is based in Las Vegas and owns casinos in Bossier City, Louisiana, and Tunica, Mississippi. The gaming space in Hammond is 44,000 square feet, while the casino in Joliet is 36,000 square feet. Horseshoe claims that the acquisition of the Empress properties will increase its annual net revenue to more than $800 million. Horseshoe’s annual revenue is now around $450 million.
Jack Binion Business
Binion took over as president of the Horseshoe in 1963, when he was 26 years old. Following the Horseshoe Casino’s 1970 hosting of the first World Series of Poker, which would become the world’s largest poker tournament, his standing within the organization grew. Binion’s Horseshoe, which was privately held, was one of Nevada’s most successful casino operations.
Following a protracted legal battle among Benny Binion’s heirs for control of the Horseshoe, Binion sold his interest in Binion’s Horseshoe to his sister, Becky Behnen, while retaining a token 1% interest in the operation to lawfully retain his Nevada Gaming License. He also acquired the Horseshoe brand’s rights outside of Nevada. Binion later founded Horseshoe Gaming Holding Corporation, which built and operated several riverboat casinos under the Horseshoe brand. Binion continued to promote the casinos for Harrah’s Entertainment after selling the company to Harrah’s in 2004. Binion founded the World Poker Open while running Horseshoe Gaming, which was once a major feeder tournament for the World Series of Poker.
On June 11, 2004, Binion was inducted into the American Gaming Association’s Gaming Hall of Fame. The World Series of Poker inducted him into the Poker Hall of Fame the following year, on July 6, 2005. Binion was appointed chairman of Wynn Resorts in July 2006. His duties included the opening of the Wynn Macau. He has since resigned from his position but continues to consult for Wynn Resorts.
