Most people would consider the honor of being included in one Hall of Fame to be a significant accomplishment. South Point Casino‘s Michael Gaghan, however, defines his career by how many Halls of Fames he has been inducted into. Here is the list.
Pro Rodeo Hall of Fame
National Gambling Hall of Fame
Nevada Sports Hall of Fame
Off-Road Racing Hall of Fame
Billiard and Bowling Hall of Fame
West Coast Motorsports Hall of Fame
is now adding Sports Betting Hall of Fame . He joins the ranks of HOFers at South Point Casino, including Vinny Mgliulo Chris Andrews and Jimmy Vacarro. He also hired the recently retired Hall of Famer Art Manteris. South Strip Casino is home to some of the most accomplished sports betting professionals in history. The South Strip casino will host the induction ceremony for SBC Summit North America.
According to Nick Bogdanovich , another 2023 Sports Betting Hall of Fame Inductee, Gaughan did not work for him, but he was instrumental in getting Bogdanovich’s first sports betting job. Bogdanovich thought Gaughan wouldn’t remember. He did.
Gaughan remembered, “He was very intelligent.”
Gaughan literally had gambling in his blood. He is a third generation gambler and moved to Las Vegas at the age of nine. His involvement in casinos and sports betting dates back to long before South Point opened.
In 1972, Gaughan and his father opened the Royal Inn Casino after Gaughan had worked at El Cortez. There, his involvement in sports betting started. Gaughan, who was among the first few operators to install a sportsbook when tax rates dropped from 10% to 2%, had been avoiding installing one because of a prohibitive tax rate of 10%.
Gaughan recalled this to SBC Americas. Gaughan, who is now in the Hall of Fame, said that his qualifications were simple and straightforward.
“He was my only friend who had any knowledge of sports.” “He was either a 21 or craps dealer,” said he. He added, laughing: “When he became sportsbook manager, it was like he had two jobs.”
The Royal Inn Sportsbook was a huge success. This is also the case at South Point Casino, which has a huge race and sportsbook as well as Vegas Stats & Information Network. Some casinos still view sportsbooks as a way to make a profit or to break even. Gaughan, however, is a different story.
“I have a completely different philosophy.” I’m a casino operator primarily. A sportsbook should do three things. It’s meant to attract new players who play other games besides sports. It is supposed to cater to the people that you already have. Three, you’re supposed to be able to earn a bit of cash. I messed up number three. “I started to make a lot more money.”
Gaughan expanded the Coast Casinos empire after the Royal Inn with properties such as the Barbary Coast, Gold Coast and The Orleans. In 2004, he merged the company with Boyd Gaming, creating the third largest casino company in America.
Gaughan was the sports betting manager at Boyd because no one else wanted to do it. He left Boyd in two years. Now Gaughan owns not only the South Point but also the slot route at the Las Vegas Airport.
Gaughan’s career is diverse, but one common theme could be his willingness to add something other than a slot machine or a table to enhance his casino.
You want people to come and work for you. He explained that in order to make money, one must have people.
Gaughan is the first casino owner to install a movie theatre. South Point now has an equestrian centre. He also helped bring the Rodeo to Vegas. Gaughan claims that his role in the project was minimal.
“Benny Binion introduced the rodeo in Las Vegas. My only involvement was in the use of my plane for three trips to Colorado Springs. When the rodeo came to town, Benny Binion placed me on Las Vegas Events, and they put my on the National Rodeo committee.”
Las Vegas was practically in hibernation in December for those who are unaware of its pre-rodeo history.
Gaughan stated that December was the worst month in the entire year. “They closed down the showrooms, and you changed the carpet. You painted the walls. You furloughed workers. “December was a maintenance period and the rodeo changed this in 1985.”
Gaughan rallied the other rodeo operators and, after they saw the financial impact, they became more involved.
Even though Gaughan recognized the attraction years ago, the events in Vegas have become the hottest thing. Gaughan, a racer who has always enjoyed racing as a hobby is excited about the upcoming F1 event in Vegas. The Caesars Palace Grand Prix was held in 1981 and 1992.
Gaughan, a lifelong innovator and innovator of Las Vegas, would be able to tell when Las Vegas had tried something. Gaughan’s illustrious accomplishments make it likely that he was one of those who first tried something. His track record is impressive, as he was inducted into the Hall of Fame for his innovations so many times.