Las Vegas Binion’s Casino to close down hotel
One of Las Vegas’ most iconic casinos and the spiritual home for many poker players across the world, Binion’s (formerly Binion’s Horseshoe), is set to close down its hotel on December the 14th. Founded and opened in 1951 by Benny Binion the casino quickly became a haven for high stakes gamblers and the establishment soon became of the preeminent spots on the Vegas strip.
With a strong emphasis on gambling, rather than glitzy shows, it wasn’t long before the biggest gamblers across the world were flocking to Binion's, making it a multi-billion dollar business. The casino’s strong reputation made it a natural choice for world’s most prestigious poker tournament, the World Series of Poker. Since its inception in 1970 the series has become the biggest in the world and due to the sheer weight of numbers has had to be relocated to the nearby Rio casino.
Initial financial reports show that hotel staff at Binion’s will likely lose their jobs and the total redundancy rate is set to be around 12.5% of the 800 person workforce. The poor economic climate has caused much of the establishments financial troubles and although the casino branch of the complex still makes a healthy profit the hotel side has slipped.
The decision to close the hotel will no doubt come as a blow to the owners, Harrah’s, but it will ultimately be seen as a necessity to keep the casino at Binion’s a landmark feature on the Vegas strip.