Michael Gaughan wields as much influence in the Las Vegas gaming community as the chief executives who oversee some of the Strip’s largest publicly traded resorts.
And the 81-year-old Gaughan carries that respect with just a single 2,100-room hotel-casino that sits on 56 acres along Las Vegas Boulevard, 6 miles south of what is considered the Strip’s southern border.
He said his contemporaries on the Strip and elsewhere are always discussing “debt service per day.” Growney, whose father was general manager when Gaughan owned the Gold Coast Casino and Hotel in the 1990s, said Gaughan’s operating methods haven’t changed in decades, even through the recession and pandemic-era operating restrictions.
Gaughan began his career in 1965 as the casino manager working with his father, Jackie Gaughan, at the El Cortez downtown. “I started out pitching cards and learning how the casino works,” Growney said. “That’s how Michael started and that’s how we learned — through experience.” The facility has grown beyond its original 4,600-seat arena, adding two smaller event spaces, a practice facility and 1,200 climate-controlled horse stalls. The venue is booked annually for 46 weeks of equestrian events.
Even with the traffic influx, Gaughan refuses to charge for parking at any of the property’s 5,000 spaces, which are commonly filled, especially on weekends and holidays. South Point, he said, is a “hybrid property” because its hotel towers are adjacent to the 2,000-unit Grandview at Las Vegas timeshare development.
“I don’t have a food and beverage manager. I have a restaurant manager and a bar manager,” Gaughan said. “They’re both good and have been with me for a long time.”
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