El Cortez honors Las Vegas history in a way no other casino does
By Roger Gros
Jackie Gaughan is an almost mythic figure in the casino world . Along with Benny Binion , Gaughan dominated the casino market in Las Vegas for decades . At one time , Gaughan owned more than 25 percent of all the real estate in Downtown Las Vegas . He mentored his partner in the Golden Nugget , a young Steve Wynn .
Some of the properties Gaughan once owned include the Plaza , the Western , the Gold Spike and many more . But the one that was closest to his heart — and where he lived until his death at 93 in 2014 — was the El Cortez .
Once owned by the mob led by Bugsy Siegel , Gaughan purchased the El Cortez in 1963 . The El Cortez opened in 1941 , built by another legendary Las Vegan , Kell Housells , who sold it a few years later to Siegel , only to get it back in 1946 when Siegel was raising money to build the Flamingo .
When Gaughan took it over , it became one of the most successful casinos Downtown , and today is the longest continuing gaming license in Nevada . Originally it was what they called a “ sawdust joint ,” referencing the sawdust owners would spread to soak up spilled drinks and other things . Today , the El Cortez has a classy elegance .
But it wasn ’ t just the large ( for Downtown ) facility , it was the personal service delivered by Gaughan and his team . Kenny Epstein , who bought the El Cortez from Gaughan in 2008 and worked for him since 1976 , says reproducing the personality of Gaughan is difficult .
“ Jackie was a special guy ,” says Epstein . “ He always put the customer first and was on a first-name basis with hundreds of them who would come to see him .” Epstein says he met Gaughan when he was 15 in 1956 . “ We lived in Chicago and drove to Nevada to stay at the Cal Neva in Lake Tahoe ,” he explains . “ My father introduced me to Jackie , who owned the Tahoe Biltmore at the time , just across the street . Jackie showed me around the casino , the 100 slot machines and 10 games . He made me feel very special , and that ’ s what was so great about him .”
Since taking over the El Cortez , Epstein and his partners have sunk over $ 60 million in the property , renovating rooms , adding amenities and trying to maintain the charm of the El Cortez while connecting it with history . For a city that discards its history when it becomes inconvenient , the El Cortez celebrates it .
“ We renovated our only restaurant a few years ago and renamed it ‘ Siegel ’ s 1941 ,’” he says . “ We ’ ve got pictures of Bugsy and his compatriots all around the restaurant , and I love showing them off to people and explaining who and what they were .”
Left : Jackie Gaughan a few years after purchasing the El Cortez Below : Today ’ s El Cortez
Vintage slots at El Cortez ; Popular table games at El Cortez
Another big draw for the El Cortez are the vintage slot machines , usually high-paying video poker games that actually still accept coins . People come from all over to play them , and the word has spread . Epstein says his market has transitioned over the past five years from 80 percent locals to a 50-50 balance now between locals and tourists .
“ I ’ d like to claim that our team helped that happen , and I ’ m sure they did , but Downtown Las Vegas is going gangbusters now , and we ’ re benefiting from it .”
Of Derek Stevens ’ new Circa casino ( see page 28 ), he thinks it will be a huge success and will benefit all Downtown properties , including the El Cortez .
“ I look at it this way ,” he explains . “ Your neighborhood is already nice , but when someone comes in and knocks down two houses and builds a magnificent new house , that ’ s got to make your house more valuable .”
54 CASINO STYLE 2020