Benny Binion Net Worth

February 2, 2023
2 mins read
ORG XMIT: *S0405932520* 12-2-1953 -- Gambler L.B. (Benny) Binion, who shifted his operations from Dallas to Nevada in 1949, poses for a picture on the steps of the Federal Court in Waco, TX. U.S. Judge Ben Rice, Jr., postponed until Dec. 14 in San Antonio the sentencing of Binion for income tax evasion. Binion pleaded guilty to charges of income tax evasion in the period 1945-1949. He could be fined $40,000 and sentenced to 20 years in prison 05112003xNews 08102014xARTSLIFE

Born Lester Ben Binion on the 20th November 1904 in Pilot Grove, Texas USA, Benny was a mob boss, casino owner and poker player, who came to prominence in the mid- ’30s, organizing a network of private dice games in Dallas hotels, and from then until his death continued to enlarge his casino kingdom. He passed away in 1989.

Have you ever wondered how rich Benny Binion was, at the time of his death? According to authoritative sources, it has been estimated that Binion’s net worth was as high as $75 million, an amount earned through his successful career.

Benny Binion Net worth $75 Million

Growing up north of Dallas, Benny was troubled by bad health in his early years, therefore he didn’t go to school, as his parents feared that his health would become even worse. His father, a horse trader, would often take him along on his trips, and as the time went by, Benny’s health improved. During these travels, Benny used free time to learn to gamble, and when his father was in meetings with traders, he would perfect his gambling skills.

In the early ‘20s, Benny settled in El Paso, where he started producing moonshine, and then relocated to Dallas. There, he took his moonshine production to a next level, however, he was soon caught in his illegal operations and convicted. However, he soon continued with moonshining, but also launched a numbers game and began incorporating himself into alcohol and gambling operations in Dallas. By the mid-’30s, he had become a respected member of the gambling community, but to earn such status he had to eliminate the competition. Benny and his henchmen murdered rum-runner, Frank Bolding, then Ben Frieden, a mob boss, among others, and after conquering Dallas he then set his mind on Fort Worth, and in no time he became the ruler of that city too, following the death of mob boss Lewis Tindell.

However, after the end of World War II, Benny’s dominance began to decline in Dallas after the rise of the Chicago Outfit, and following the fall of the government with which Benny had a deal, he was forced to flee to Las Vegas. His troubles didn’t end there, as he was sentenced in 1953 to a five-year prison term in Leavenworth federal penitentiary for tax evasion, and lost his gambling license.

Before his reign fell apart, he managed to establish operations in Las Vegas; he became a partner of the Las Vegas Club casino, and bought one of the buildings owned by the Las Vegas Club and rebranded it as the Westerner Gambling House and Saloon. Furthermore, he bought the Eldorado Club and the Apache Hotel, which he then renamed to Binion’s Horseshoe casino. However, he was forced to sell a large part of stake in Horseshoe to Joe W. Brown, who was a notable businessman from New Orleans.

Following his release from jail, Benny did all to regain his business, but that had to wait until 1964, and though he never again held a gambling license, he continued organizing high stake poker games, and in 1970 started what would become World Series of Poker, one of the most prominent gambling events in the world.

Thanks to his prolific career and success, Benny was inducted into the Poker Hall of Fame in 1990, a year after his death.

Regarding his personal life, Benny was married to Teddy Jane, with whom he had five children, including sons Ted and Jack, who followed in his footsteps. He passed away on the 5th December 1989 in Las Vegas, Nevada USA from heart failure.

Daniel Wanburg

As the Managing Editor at Net Worth Post, I lead a talented team in delivering compelling content on the lives and achievements of influential figures. With a keen eye for detail and a passion for storytelling, I oversee the production of insightful biographies that resonate with our audience. My role involves not only managing the editorial process but also conducting research, crafting engaging narratives, and ensuring the accuracy and quality of our publications.

At NetWorthPost, we strive to provide our readers with in-depth profiles that offer valuable insights into the worlds of business, entertainment, and beyond. Through meticulous research and captivating storytelling, we bring to light the remarkable journeys and successes of individuals who inspire and captivate us.

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