Michael Gaughan has built his net worth to a whopping $200 million by his successful career as a businessman. He is an American businessman born in Omaha, Nebraska on the 24th March 1943 and is best known as the owner of the casino hotel South Point, Las Vegas, which opened in 2005.
He inherited this passion for the gaming industry from his father Jackie Gaughan who owned and operated numerous casinos, most notably El Cortez. Michael went to Bishop Gorman High School and later perused an education in Accounting at Creighton University followed by an MBA degree in Labor Relations from the University of Southern California.
Michael made his first stride into the casino world in 1965 when he became the owner and director of the El Cortez Hotel. This was followed by obtaining a casino operator’s license in 1967. In 1979, he opened his own resort, Barbary Coast Hotel and Casino, and over the years continued to expand his casino empire adding several other hotels and casinos. His wealth skyrocketed when he merged with Boyd Gaming Corporation in a deal worth $1.2 billion.
Apart from the gaming business, Michael is also passionate about racing, having won the Mint 400 race in the ’60s and started South Point Racing in 1999. His personal life includes his marriage to Paula, with whom he has four children.
His net worth simply keeps growing with every business venture he pursues, making him one of the most prominent figures in the gaming and hospitality industry.
