Son of an Arizona rancher, William Bennett was born on November 16, 1924. He was a Navy dive-bomber pilot during World War II.
In the early 1960s, William Gordon Bennett was a successful Arizona-based businessman. At that time he accumulated a personal fortune of some $40 million as the result of his success with a steadily growing chain of retail furniture stores.
He was provided with an opportunity to invest in a financial services firm which fell through. Bennett ended up seeing the protection of the bankruptcy court. He eventually paid everyone who was owed anything.
"I paid them all. It's one of the best things I ever did. Sort of a way to turn a lemon into lemonade." - Bill Bennett
L.C. Jacobson, a Del Webb Executive went to see Bennett asking if he was interested in going to Nevada and entering Webb's casino operations, bringing the instincts of a smart, well-educated businessman to a business that was not exactly brimming with sophisticated business people. Jacobson's point at the time was that knowing how to run a craps game did not necessarily instill a man with the instincts to hold his own in a business that was changing.
In 1965, Bennett moved to Lake Tahoe to work for the Webb Corporation. Bennett was surprised to discover how little so many people seemed to know about running a good casino operation. Years later, he would say there was one noticeable exception - Harrah's.
"Harrah's had a real good slot operation. Later, when I got into Circus, I applied some of what I learned from watching Harrah's." - Bill Bennett
During the next few years, Bennett had the chance to see what he could do with both the Mint and the Sahara in Vegas. In each case, Bennett's arrival on the scene produced a big improvement in the bottom line. Some of this was nothing more than an application of the retail business practices Bennett had learned before he arrived in Nevada - like quality and a good price.
"Funny isn't it? How easy it was for so many casinos to make so much money during the years before competition became such a factor in determining who would succeed and who would fail." - Bill Bennett
Other factors were a little head-spinning. When he arrived at the Mint in 1966, the casino was equipped with a lot of the old Mills machines. They were supposed to drop 20 coins, with the remainder of each jackpot being off in rolled coins.
"For some reason, I found out they were not dropping the 20 coins and I asked about it. Was there a problem? I was told it was a problem because some people were claiming they were not getting the 20 coins. Now you've gotta remember that what we're talking about here was mostly nickel machines." - Bill Bennett
Bennett shook his head and ordered that the machines be set to drop what they were supposed to drop. The first month, the slot win increased $200,000. Slot players had more time in front of their machines now that they were no longer forced to sit and twiddle their thumbs, waiting for their nickel jackpots to be hand paid. Better to occupy their time with the chance to keep playing. That's always been part of the Bennett formula. In every way possible, give a gambler all the time you can at the games.
The following picture is of Desert Inn/Stardust owner Moe Dalitz with Bennett in mid-1960s.
Months later, Bennett was asked if he would also mind taking a look at the Sahara. See if he could whip it into shape. By this time, the Mint under Bennett's direction was producing more than three times the Sahara's earnings. For awhile, Bennett was overseeing all three places, but the powers that be were reluctant to make improvements that Bennett thought were necessary on the Strip.
In 1974, Bennett and his business partner William Pennington bought Circus Circus after many unsuccessful attempts to buy the Landmark from Howard Hughes.
"When I got to Circus, it was losing about $400,000 a month. It might lose $800,000 one month and break even the following month, but the history of the place going back five years was almost exactly $400,000 a month. I figured I could find that much in money they were just blowing away." - Bill Bennett
Bennett also figured Circus could generate another $150,000 a month by putting the second floor midway games in the hands of people who knew what they were doing. So he did and the results were every bit as satisfying as he had hoped.
During the 1980s, the company moved into Laughlin in a big way. Its decision to break out its Laughlin earnings in quarterly statements provided the first real indicators about how important business there could be at the time. In 1988, William Pennington retired from Circus Circus in Reno which opened in 1978.
With the money that was flowing in, Bennett was able to create his own dreams, the Excalibur in 1990, and Luxor in 1993.
In 1994, Bennett retired from Circus Circus Enterprises with a net worth in excess of $700 million, leaving behind titles - official or otherwise - that included co-founder, chairman of the board, chief executive officer, and last but far from least, the simple fact that he had been the company's major shareholder. Bennett quickly decided retirement was not for him. He wanted to buy the Hacienda but that precipitated a sharp disagreement with the people who were then in charge at Circus. They also wanted the Hacienda.
Bennett then looked at the resort that years before he was not allowed to do what he wanted to do with, the sixth lady on the Strip, Sahara. The resort, which turned 40 in 1992, was not doing well. It was at the north end of the Strip by herself with only Wet 'N Wild as a neighbor. The closest casinos were Circus Circus/Riviera with El Rancho being closed and Stratosphere not exactly bringing droves of people down her way. The resort itself had no improvements and lost the luster she once had. Bennett, at the age of 72, not only bought the resort, but the property which the original El Rancho Vegas once stood owned by Howard Hughes' Summa Corporation.
Bennett has since spent his time and money turning the resort into a stiff competitor with her Strip sisters. Not into imploding unless totally necessary as was the case with the bungalows at the Sahara, he is saving the Sahara from the fate that her sisters Sands, Dunes, Hacienda, and Landmark experienced. (The Aladdin was also a "necessary" implosion. Her structure was too weak to handle additions). As of 2002, he has spent almost $100 million renovating the resort.
In May of 2000, Hilton Hotels Corporation placed a 10 acre land parcel under contract from the 39 acre tract of the old El Rancho Vegas property. With Hilton building a timeshare across the street, and Turnberry building at first a London themed resort, then a timeshare, where the Thunderbird/Silverbird/El Rancho once stood, Sahara can return to her place on the Strip - the north side of the Strip could be quite an attraction.
Benentt reduced his workload over the past few years as his health deteriorated.
In September, 2002, Bennett, tied with 10 others on the Forbes Wealthiest list at No. 368 with $600 million in net worth.
Point of interest - Sahara celebrated her 50th birthday on October 7, 2002.
Bill Bennett, died at the age of 78 on December 22, 2002, at Desert Springs Hospital following a lengthy illness.
I can't quite get used to the idea that he is gone. H e was an icon in the Casino business. When he and Willy P. took over Circus Circus, they surrounded themselves with a lot of talent. The idea to cater to "Middle America" and it's kids was a winning idea.Bill gave back to the community like no other owner ever has. His donations to UNLV were huge. He gave to many causes and individuals in need enormously. He wasn't in it for the glory or the allocades.
I remember when a German tourist was seriously injured in another state by a landslide. Mr. B. heard about it and had his personal jet fly up and get the tourist. He paid for all the hospitalization and surgeries necessary to get the fellow well. No one ever knew about it. Another time a contractor built a 200 unit seniors home. There were no stoves, refrigerators, or dishwashers included in the units. Mr. Bennett saw to it that every senior got these items at no cost to them.
Another time a rancher was abusing and starving about 70 head of horses. Bennett rescued them and put the majority of them on his own residential ranch. (He put a bunch of them on Mel Larson's place too) He saw to it that they were cared for by a veterinarian and brought back to health.
These are just a couple of things he did during his long tenure at Circus Circus Enterprises. He went out of his way to avoid any media attention. He spent a million dollars or more feeding the Culinary Union workers who were striking the Frontier Hotel for years. He saw to it that there were three hot meals delivered every day to the picket line. He always was the first to sign Union Contracts.
He was really good to me. He paid me more than I thought I was worth. Apparently he thought differently. In addition to his friendship, he gifted me with a lot of camera equipment over the years. Once, he even gave me a twin engined hovercraft. We enjoyed many conversations about our mutual interests. Flying, photography,and new ideas.
There will never be another like him. Las Vegas lost one of the great people that made it grow and prosper. May he rest in peace running that big casino in the sky. - Mike Christ, friend and former employee
"Bill Bennett was one of the Strip's top profit-producers, for almost a 20-year stretch. He cut costs everywhere, but he understood his market: middle-class Americans. The regular guy can afford Las Vegas because of guys like Bill Bennett." - Bill Thompson, casino industry expert and University of Nevada, Vegas professor"Bennett was one of the greatest casino executives ever. He was one of the smartest operators and greatest gamers ever," Paulos said. "He believed gaming was no different than retail, and he wanted to attract the masses. And he did, in spectacular fashion." - Bill Paulos, former Circus Circus executive and Bennett employee
His death came less than one month after the death of Imperial Palace owner Ralph Engelstad. The twosome were the original developers of the $200 million Las Vegas Motor Speedway, which they sold in 1998.
Culinary union officials still remember Bennett's generosity. Circus Circus, Excalibur, Luxor and Sahara all had Culinary contracts, and Bennett spent about $1 million providing picketing Frontier strikers with meals during their extended mid-'90s work stoppage.
Bennett is survived by his wife, Lynn; daughter Diana; son William A.; step-daughter Laura Lynn; four grandchildren and two great grandchildren.
Sahara, in a statement, asked that, in lieu of flowers, donations be made to the Bennett Foundation.




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