Who Owns El Cortez Casino?
El Cortez Casino in Downtown Las Vegas is more than just another gaming spot—it’s a piece of history. When you step inside, you’re walking into one of the oldest continuously operating casinos in the city. Many visitors often ask who owns it today, especially since ownership in Las Vegas casinos tends to change hands over time.
Unlike the big corporate-owned casinos on the Strip, El Cortez has always stood out for being locally owned and operated. Understanding its ownership not only gives you insight into the casino itself but also into how it’s managed differently compared to the larger resort-style casinos.
The Original Ownership of El Cortez Casino
When El Cortez first opened in 1941, it was built by John Kell Houssels, Sr., who later became a major figure in Las Vegas gaming. The location was chosen on Fremont Street, which was the heart of the city before the Strip became popular. At the time, it was one of the first full casinos downtown and attracted both locals and tourists.
A few years later, in 1945, the casino was purchased by some of the most well-known organized crime figures of the era, including Bugsy Siegel, Meyer Lansky, Gus Greenbaum, and Moe Sedway. These men saw potential in the property and used it as a stepping stone to bigger projects like the Flamingo Hotel. Even though mobsters were involved for a while, El Cortez remained a more community-focused casino rather than a flashy resort.
Jackie Gaughan and His Influence
The real turning point in El Cortez’s history came in 1963 when Jackie Gaughan, a legendary casino owner and operator, purchased the property. Gaughan became a well-loved figure in Las Vegas, especially downtown, because he preferred to cater to locals instead of chasing tourists.
Jackie Gaughan wasn’t just a businessman; he was known for walking the casino floor, greeting players personally, and keeping the El Cortez affordable and friendly. Under his ownership, the casino built its reputation as a locals’ spot where people felt comfortable. Gaughan lived at El Cortez for decades until his passing in 2014, showing his strong connection to the property.
Current Ownership of El Cortez Casino
Today, El Cortez Casino is owned by the Epstein family. They purchased the majority stake in the property from Jackie Gaughan years before his death. Kenny Epstein, a close associate of Gaughan, has been the public face of the ownership group and continues to operate the casino in the same spirit.
The Epstein family has kept the “classic Las Vegas” feel alive at El Cortez. While many casinos downtown have gone through big remodels to chase after tourists, El Cortez still offers low-limit table games, coin slot machines, and affordable food and drinks. It’s also one of the last casinos in Las Vegas where you can find single-deck blackjack and low table minimums.
Why the Ownership Matters
Knowing who owns El Cortez tells you a lot about why the casino feels so different from the Strip properties run by companies like MGM Resorts or Caesars Entertainment.
Local Ownership: The Epstein family keeps the focus on local customers and regulars rather than only tourists.
Classic Feel: The owners value tradition, keeping older machines, vintage décor, and even coin-operated slots.
Affordable Play: Unlike corporate casinos with $25 table minimums, El Cortez still welcomes low-stakes players.
Community Roots: Ownership that lives and works in Las Vegas tends to understand what locals want better than outside corporations.
This is why El Cortez has lasted so long—it’s owned and run by people who truly care about the property and its history.
El Cortez’s Place in Las Vegas History
Ownership aside, El Cortez Casino is special because it’s the longest continuously operating casino in Las Vegas. In 2013, it was even placed on the National Register of Historic Places, making it the first casino in Vegas to earn that honor. That recognition means its history and design are protected, ensuring it won’t be replaced by another mega-resort anytime soon.
The Epstein family has embraced this historic status. Instead of tearing it down or changing it completely, they’ve preserved the old-school look while making small upgrades to keep things modern enough for today’s players.
Conclusion
So, who owns El Cortez Casino? The answer is the Epstein family, with Kenny Epstein leading the ownership group. Originally opened by John Houssels in 1941, then briefly owned by famous mobsters, and later run by Jackie Gaughan for decades, El Cortez has a rich history of ownership that shaped its identity.
Unlike the Strip resorts owned by massive corporations, El Cortez has stayed true to its local roots, offering affordable games, a welcoming environment, and an authentic Las Vegas experience. If you want to see a piece of Vegas history still alive today, El Cortez is the perfect place to visit.
FAQs
Who currently owns El Cortez Casino?
El Cortez Casino is currently owned by the Epstein family. Kenny Epstein is the main figure associated with its operations. The family has worked hard to preserve the casino’s classic Las Vegas charm, focusing on locals and affordable gaming instead of turning it into a high-end tourist resort.
Was El Cortez Casino ever owned by the mob?
Yes, in 1945, mobsters Bugsy Siegel, Meyer Lansky, Moe Sedway, and Gus Greenbaum bought the casino. They later sold it to invest in the Flamingo Hotel. Although mob ownership was brief, it is an important part of El Cortez’s colorful history.
Who was Jackie Gaughan in relation to El Cortez?
Jackie Gaughan was a legendary Las Vegas casino owner who bought El Cortez in 1963. He lived at the property for decades and personally greeted players on the casino floor. His ownership helped shape El Cortez into a beloved local casino with affordable games and a welcoming atmosphere.
Why is El Cortez Casino historic?
El Cortez is the longest continuously operating casino in Las Vegas. In 2013, it was placed on the National Register of Historic Places. This recognition protects its historic design and ensures it remains a key part of Las Vegas’ cultural and gaming history.
Does El Cortez feel different from other casinos?
Yes, El Cortez feels very different because it’s still locally owned and focused on regular players. It keeps low betting limits, old-school slot machines, and a classic atmosphere. Unlike big Strip resorts run by corporations, El Cortez stays true to Las Vegas’ roots as a gambler-friendly casino.
