Michael Gaughan (businessman)
| Michael Gaughan | |
|---|---|
| Born |
Michael John Gaughan March 24, 1943 Omaha, Nebraska |
| Occupation | Businessman |
| Known for | Owner of South Point Racing and Coast Casinos |
| Children | Brendan Gaughan |
| Parent(s) | Jackie Gaughan |
Michael John Gaughan (March 24, 1943 in Omaha, Nebraska) is a casino owner and operator in Las Vegas, Nevada. Michael is the son of Jackie Gaughan and was the owner of a NASCAR race team, South Point Racing, for which his son, Brendan Gaughan, used to drive. The team was dissolved at the end of the 2007 season. He is also the father of John Gaughan, owner of Las Vegas Dissemination Company and film producer.
Early on Michael showed his interest in racing when he won the 1966 Mint 400 race. He went on to win other races. His continued interest continues to today with South Point Racing which he founded in 1999 and dissolved in 2007.
After many roles in casinos, including various ownership roles, Michael opened the Barbary Coast Hotel and Casino in March 1979 at a cost of $11.5 million. That casino, on only 4.3 acres (17,000 m2) of land, became the foundation for Coast Casinos.
Michael Gaughan Airport Slots is the name of the slot operations at McCarran International Airport, which is owned by Gaughan.
In 2004, Michael sold Coast Casinos for $1.3 billion to Boyd Gaming. In July 2006, Boyd gaming announced that it was selling the South Coast to Michael for an estimated $576 million. The casino was built at a cost of $600 million.
The South Coast was required to be renamed as a part of the purchase and was renamed to the South Point.
Gaughan was elected to the Gaming Hall of Fame in 2009.
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