American businessman Benny Binion has an estimated net worth of $75 million in 2012. Lester Ben "Benny" Binion was born on November 20, 1904 in Grayson County, Texas. Due to his health, Binion had never had any formal education. According to his FBI records, Binion already had his criminal records since 1924. He had incurred several offenses which include two murder convictions, carrying of concealed weapons and theft. He also committed moonshining which convicted him twice.

He had been involved in the murder of Frank Bolding, Ben Frieden, and Lewis Tindell. Later on, he became a partner at the Las Vegas Club casino which he left a year later. Eventually, he bought the building which housed the Las Vegas Club and launched his  Westerner Gambling House and Saloon. In the same year, he also acquired Apache Hotel and Eldorado Club which he later re-opened as Binion's Horseshoe casino. The casino was known for its high limits on bets.

Teddy Jane, Binion's wife served as the casino's manager until her death in 1994. In 1964, his sons Ted and Jack, started working for the casino as manager and president respectively. In 1998, his dauhgter Becky became the president and under her leadership, the casino sunk into debt.