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Recurring currency

Binion's hopes stack of cash can bring back the masses

Binion's newest owner is bringing back a renowned tradition at the downtown Las Vegas casino, and it isn't swift and thorough beatings for people dumb enough to get caught cheating at cards.

The casino floor is once again home to a stack of cash worth $1 million that is on display to lure tourists into the once-rollicking gambling joint.


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  • The appearance of a $1 million display similar to the one that entertained millions of Las Vegas tourists from the 1950s until 2000 is the latest gimmick by Binion's Gambling Hall & Hotel owner Terry Caudill to revive some of the spirit from the casino's heyday.

    The money is encased in an acrylic pyramid on top of a poker table in the middle of the casino. Casino workers brought it out last week to the surprise of tourists who happened to be there when they installed the display.

    "It was pretty wild," said Binion's general manager Tim Lager. "People were taking pictures with their phones."

    Unlike the version of the stack on display from 1964 to 2000, the new display isn't made of rare $10,000 bills. It is $270,000 in $100 bills, $688,000 in $20 bills and $42,000 in $1 bills.

    Assembling enough $10,000 bills, which are now out of circulation, would have cost $16 million or more, Lager said. Just one of the $10,000 bills from the old Binion's display was posted on the auction Web site eBay for $160,000, he said.

    Also, photos with the new cash stack don't come courtesy of the house like they did when the Binion family ran the casino and an estimated 5 million people trekked downtown for a snapshot.

    Under the new ownership, to get a photo with the money, a customer needs to sign up for the slot club and plunk down $20 for the souvenir and $25 in slot or table play.

    The setup around the display includes a camera mounted on the ceiling that snaps the photos and a workstation where employees process the photos.

    The display will be visible from 10 a.m. to 10 p.m. daily and during off hours will be locked under a stainless steel shell. The poker table on which it rests is also reinforced with steel plates and each level of the acrylic casing is sealed shut and secured.

    There are also cameras fixed on the money.

    "We took all the cautions our insurance people wanted," Lager said. "It is really overkill."

    According to Review-Journal archives, the million-dollar display first appeared in the 1950s at what was then the Horseshoe Casino under ownership by Joe W. Brown.

    Brown sold the original stack in 1959 and in 1964 then-owner Benny Binion assembled $1 million in $10,000 bills and re-created the attraction.

    For decades it was one of the most popular attractions in Las Vegas.

    In 2000, when coin collector Jay Parrino bought the display for an undisclosed price, longtime Binion's fans mourned the loss.

    "That's a part of Benny," Poker Hall of Fame member Pug Pearson told a reporter then.

    Stratosphere founder Bob Stupak said at the time, "It's almost like family history; I'm extremely disappointed."

    The original display was part and parcel with the down-home atmosphere at Binion's.

    When Benny Binion was alive, the casino was run in large part by his son, Jack Binion. At the time the place was known for generous food and booze comps for high and low rollers and a willingness to accept any bet.

    It was also a place that stayed true to Benny's outlaw, Texas roots. In the late 1980s two California gamblers who were accused of cheating claimed they were badly beaten by casino security guards.

    Eight Binion's employees were indicted but the charges were eventually tossed out, although the casino paid a $675,000 civil settlement, according to press clippings.

    A scene depicting casino workers beating card cheats was also part of the 1995 movie "Casino," a film that included nods to the glamour and dark side of a bygone era in Las Vegas.

    Contact reporter Benjamin Spillman at bspillman@reviewjournal.com or 702-477-3861.

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    Aaron Winslow wrote on March 31, 2009 04:45 PM: Come on people.... Do we really go to Binions to see the $1,000,000 display? NO! We go there because Binions is Vegas History, a good gamble, great food, cold beer and cocktails that come quickly. All single deck blackjack dealers shuffle like crazy, ever up at the Wynn where they only pay 6 to 5 on a blackjack. I have stayed all over town and always go the the Binion's Steakhouse for great steaks and lobster. I even met Mr. Caudill (Binion's Owner) in the Bar at the Steakhouse and he took his time to fill me in on his plans for upgrading the Hotel and Casino back in April of 2008. Now in 2009, they have the new Poker Room, Sports Bar, and Sports Book. Up on the strip, big Corporate Vegas does not care about their guests and players, and you will never see a Corporate CEO checking on his Restaurant or Casino on a Saturday Night. Mr. Caudill and his staff are turning around the Horsehsoe just like he did with the 4 Queens.
    If there is a problem with an elevator or whatever... Go tell Tim Lager(GM) about it. And if you don't want to pay for a picture of the money, then don't. Choice is yours.
    The Horseshoe is great and Downtown is the place to play in Vegas.


    LV Bear wrote on August 25, 2008 03:05 PM: It'll take a lot more than what the new owner has done to get many suckers back to this dump.

    The new 3:2 single decks suffer from shuffling disease and the pit personnel suffer from severe paranoia syndrome. It feels like being in the Four Queens sweatshop. Maybe the new owner moved some of the Four Queens crew to Binion’s.

    At least the place is offering games that appear good on the surface, and are good games for low-rolling tourists — that’s less bad than many other operators have done. But with the constant shuffling, the hands per hour will be pathetically low, and the intolerance of any play other than red-chippers will not allow the tables to make much money. That’ll be the excuse to get rid of them in a few months.

    Two things new ownership should take a look at — one cheap to fix, the other expensive but is a disaster and lawsuit waiting to happen:

    (1) The carpet in the elevator to the self-park garage is filthy and smells of urine. I don’t think the carpet has been changed, or even cleaned, in this century. Strange how the entire casino was re-carpeted not that long ago, but not the little patch of carpet in the tiny elevator.

    (2) The outside retaining “walls” of the garage wouldn’t hold anything back if hit; they are incredibly unsafe. One could probably kick them down. If a car hit the “wall”, the rusted metal probably wouldn’t even slow the car on its way through. In view of the garage accidents in the past couple of years at Golden Nugget and I think the Stratosphere, this is a liability the new owner doesn’t need. It should be fixed, and quickly.

    ----------------

    Opinions and Commentary on the Gaming Industry: www.TheBearGrowls.com


    MJ wrote on August 22, 2008 10:33 PM: "It was pretty wild," said Binion's general manager Tim Lager. "People were taking pictures with their phones."

    Poor Tim, I guess he was surprised to see people there. These guys ran loose caboose, magoos, and chicago brewing into the ground and will do the same at binioins. $25 in pay won't last more than ONE MINUTE. They have the worst machines in the city. Good luck getting the old folks to fork over twenty bucks for a stupid picture.


    007 wrote on August 22, 2008 10:12 PM: I hate to burst everyone's bubble, but this is a scam. Ever hear of a "Texas Bankroll?" The display is just that, real $100,s, $20,s, $1,s on the outside of stacks of paper counterfeit money to make you think they are all the same denomination! The corporate bigwigs would not let $1million bucks sit idle in some plastic cage when they can get a return on the real money in the financial markets. Just a guilable public to lap this up and the chutzpath to charge the yokels $20 bucks for a picture to boot!


    Sally wrote on August 22, 2008 01:18 PM: I have at least 4 pictures taken with the old Million Dollar Display, that cost $2.00 a picture. At first it was free then once they got a photo agency to take the pictures it cost $2.00 a photo. Now Binion's brought back a great concept, the poker table display looks like fun. For $20.00 I get $25.00 in chips to gamble plus an updated Binion's Million dollar picture. I will be there this weekend. This is history repeating itself. Good Job Binion's. Thanks


    3 corner hat wrote on August 22, 2008 09:49 AM: Oh! They still have the beatings, only they hit you in the wallet, car, home, savings, children's college fund; etc. OH! Don't forget the INFERNAL REVENUE SERV, depending on your WINS & losses. YOU HAVE A CONTRACT WITH THEM! What's that old adage? "They get you, coming or going."


    hilobamacaine wrote on August 22, 2008 07:16 AM: i see they still don't get it, benney knew that if you could get people in the place with a gimmick like this most would leave some money behind before they left,now they want to charge $20.00 for a picture?


    DT wrote on August 22, 2008 07:10 AM: Gambling is for losers!


    Peter wrote on August 22, 2008 07:05 AM: I think they should bring back the beatings as well.... just for fun....