Binions Horseshoe Casino raided by US Marshalls and shut down

acehistr8

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I know a lot of folks out there, mainly poker players, have been keeping tabs on this dump since Becky began running it into the ground a couple of years ago. In my opinion, it does not look good for the World Series of Poker this year, which is a damn shame. This is by the way the 2nd time they have had to do this. I hope she rots in hell.

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Today: January 10, 2004 at 6:36:13 PST

Agents shut down gambling at Binion's Horseshoe in Las Vegas
By ADAM GOLDMAN
ASSOCIATED PRESS

LAS VEGAS (AP) - U.S. marshals and agents from the Internal Revenue Service shut down gambling at Binion's Horseshoe hotel-casino Friday, enforcing what authorities said was a federal court judgment for nonpayment of union benefits.

The hotel remained open and guests were being allowed inside the downtown property, known widely as the host of the World Series of Poker.

But roulette wheels stopped, blackjack games ended, slot machines were silenced and gamblers were told to cash in their chips about 7:30 p.m. Agents seized money from casino cashiers and sent at least some employees home.

Deputy U.S. Marshal Steven Carpenter told The Associated Press the agents were enforcing a federal court order stemming from unpaid employee union benefits. He said Nevada gambling regulators would determine when or if casino operations could resume.

"I've never seen anything like this before," said Phil Raymond, 48, of Santa Barbara, Calif., who was staying at the hotel with 23 friends from around the country. Raymond and Todd Sawyer, 39, of Los Angeles, said they were unsure what would happen to tens of thousands of dollars they said they and their friends bet on weekend sporting events.

Horseshoe owner Becky Binion Behnen and her husband, property boss Nick Behnen, did not immediately respond to a requests for comment.

Another deputy U.S. marshal, Fidencio Rivera, told KLAS-TV the agents were trying to recover $1.9 million in union benefits.

"They didn't say anything," Al Napolitano, 57, a cook at the casino. "They just shut it down."

Phil Cornell, a waiter at Binion's steakhouse, showed The Associated Press a letter he was given, dated Friday, from Culinary Union Local 226 in Las Vegas. It said the federal court judgment was for in contributions to union health and pension plans.

"The Horseshoe has not been paying these contributions since last June," the letter said. "It is sad that the Horseshoe has come to this."

Binion's Horseshoe has been a fixture in downtown's Glitter Gulch since 1952. It was founded by legendary cowboy Benny Binion, who used high-stakes gambling to raise the profile of his casino and Las Vegas. It has hosted the annual poker tournament since 1970.

The hotel-casino has been in financial trouble in recent years, and the Internal Revenue Service filed a second tax lien Dec. 19 claiming $2.5 million in back taxes. On Nov. 5, a first IRS lien claimed $5 million in unpaid payroll taxes dating to 2002. A Phoenix-based IRS spokesman said at the time that the liens didn't mean the tax agency would seize the casino.

The Culinary Union, Nevada Power Co. and the downtown Fremont Street Experience, a casino business district that operates a downtown pedestrian mall and canopy light show, have also claimed they were owed money.

Becky Behnen has been negotiating with Harrah's Entertainment Inc. over the rights to the Horseshoe brand in Nevada. Harrah's in September bought Horseshoe Gaming Holding Corp., a riverboat gambling company owned by Behnen's brother, Jack Binion, and said it was interested in acquiring from Behnen the exclusive rights to the Horseshoe name in Nevada.

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yyz

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There will be a poker championship some place. Binions has the right to the name, but if she doesn't sell those rights, I'm pretty certain that the poker players of the world will recognize whatever championship takes it's place as the "WSOP".
 

Terryray

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Saturday, January 24, 2004
Copyright ? Las Vegas Review-Journal

GAMBLING: Series still in cards at Horseshoe

Many think Harrah's can help make poker tournament even more popular

By JEFF SIMPSON
GAMING WIRE



Las Vegas poker players and fans as well as those out-of-towners conditioned to an annual springtime pilgrimage to the granddaddy of poker tournaments can rest easier about the future of the World Series of Poker.

Harrah's Entertainment executives on Thursday confirmed their intent to keep the event in Las Vegas this year, at its regular Binion's Horseshoe location, after they announced a definitive agreement to buy the troubled downtown hotel-casino for an estimated $50 million in assumed liabilities.

Harrah's intends to reopen the property as soon as it can evaluate operating requirements and get the necessary regulatory approvals.

On Friday, Harrah's spokesman Gary Thompson said company Chief Executive Officer Gary Loveman has no plans to take the poker tournament out of Las Vegas in future years.

"Gary Loveman indicated yesterday that the World Series of Poker will always be in Las Vegas," said Thompson.

The first tournament of this year's World Series of Poker is slated to begin April 22, the $500 buy-in, casino employees no-limit Texas hold'em tournament.

Thirty more events with buy-ins ranging between $1,000 and $5,000 are scheduled to follow before the $10,000 buy-in, no-limit Texas hold'em championship event starts May 22.

Former World Series of Poker tournament director Bob Thompson, who ran the event for a couple of years after Becky Binion Behnen took over the property from brother Jack Binion in 1998, said Friday that Harrah's apparent plan to keep the poker tournament in Las Vegas is a sound one.

"I can't see any reason for them to move it anywhere else," said Bob Thompson, known for his Western wear and his dry sense of humor as he announces the tournament's final tables. "I think the World Series belongs in Las Vegas."

Bob Thompson said he believes Harrah's has the resources to allow the tournament to grow to accommodate the current boom in poker.

"Poker's going absolutely crazy, with record fields shattering past numbers at almost every event," he said. "The World Series will get over 1,000 entrants this year (in its championship event), no question about it."

Last year's event drew 839, shattering past marks, and paid the winner a whopping $2.5 million.

Harrah's Thompson said his company is eager to capitalize on the popularity of poker beyond Las Vegas and is studying expansion of existing poker rooms it runs at properties around the nation as well as introducing the game to some of its other casinos.

Poker industry insiders suggest that Harrah's could use its World Series of Poker event as a way to build cross-property visitation, offering contests at its far-flung casinos with World Series of Poker entries and vacation packages offered as prizes.

Distant Harrah's properties could run satellite tournaments year-round, feeding even more entrants to its yearly Las Vegas event, experts suggest.

Harrah's Thompson said it's too early to say what the company will do with the tournament next year and after.

"We want to talk to the people in the poker community at this year's World Series, the players and the past champions and others, and see what they want," he said. "The people in the poker community will be our customers, and Harrah's prides itself on knowing what its customers want, and providing it."

Along with the rights to the Horseshoe brand name in Nevada, the rights to the World Series of Poker was key to Harrah's decision to buy the 52-year-old downtown landmark.

Former Binion's Horseshoe owner Becky Binion Behnen had agreed to allow ESPN to tape the World Series for broadcast, and Harrah's Thompson said the casino operator has talked with the cable sports network about plans to film this year's event.

"We know that ESPN wants to do it," he said.

The Harrah's spokesman said no decision has been made about who will run the tournament, suggesting that a new property general manager or Harrah's Western Division President Tom Jenkin may name a tournament director after the property reopens.

Gary Thompson also said the reopened Horseshoe will retain its Binion's Horseshoe name, but he didn't know whether the tournament would be renamed the "Harrah's World Series of Poker."

New Golden Nugget co-owners Tim Poster and Tom Breitling said Friday that they're encouraged by Harrah's purchase of the Horseshoe and its plans to keep the poker tournament downtown, at least for this year.

The duo told Nevada gaming regulators that poker has a big role in their plans to restake a premier market position for their Golden Nugget brand.
 

kneifl

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Jan 12, 2001
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If Harrah's was smart....

If Harrah's was smart....

They would just keep the name on the Binions Horshoe Casino, they own it - so whats wrong with keeping the old name. They might have to pay a little bit of cash -but who cares the name will go a long way in preserving the casino.

Do you think Donald Trump owns any of the casinos in Atlantic City? Well, if you do I have a nice bridge I can sell you. Old Donald was bankrupt about 8 years back. They (The board of directors and stockholders of the casinos) pay him about 300K to 500K per year (for each casino with his name - Trump Plaza, Trump Taj Mahal, etc...) for being able to keep his name on them.

kneifl
 

Keyser Soze

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As I mentioned before, I work for Harrah's in Tunica.........They are not going to change the name of the one in Vegas, nor are they changing the name of any of the three they are in the process of buying from Jack.

The Horseshoe name will remain, and there just may even be more of them in the future.:tongue
 
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