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Binions Sale is Done Deal

By Chuckmonster on Tuesday, 11th March 2008 3:43pm
  » filed under Mergers & Acquisitions  comments: 1


TLC Casino Enterprises, owners of the Four Queens, winner of the 2007 Trippies Editors Choice for Best Grind Joint, has closed its purchase of the legendary Binions Hotel and Gambling Hall in downtown Las Vegas.

The purchase hopefully caps 5 years of confusion at the legendary property, and puts Binions back into the hands of an owner who truly has a vested interest in the success of downtown Las Vegas. TLC has done a great job at the Four Queens and we trust that the magic touch will be applied to the house that Benny built as well.

New boss Terry Caudill had this to say to the Review Journal:

As we begin to re-establish the brand, the legacy aspect will come into play, and we also want to reaffirm that Binion's is current and relevant in today's Las Vegas. There are some things we can do quickly, like changing the configuration and location of table game pits that will raise the energy level and make Binion's more inviting to the foot traffic on Fremont Street.

Caudill says that new ticket-in/ticket-out slots, refurbishing hotel rooms, reconfiguring the casino and other improvements will be commenced immediately.

This is awesome news. Binions has been floundering since Becky Binion Behnen ran the place into the ground and was forced to sell in 2004. The buyer, Harrah's Entertainment, stipped the hotel of its lucky Horseshoe name as well as it iconic World Series of Poker Brand then flipped it to MTR Gaming, who, despite numerous attempts at improving the property, never figured out how to run the joint properly. Here's to hoping that Binions will grab some of that mojo that made O'Shea's so great before Harrah's turned it into a college bar. Our suggestion: put the craps tables right out on the edge of Fremont street.



Comments & Discussion:

Great! Downtown is getting better all the time. I had a friend who stayed at the Four Queens last year for the world series of poker, and his fully renovated suite was surprisingly well done, with a great flat screen TV and nice furniture. Here's hoping they give some of that treatment to Binions.

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