What is Michael Gaughan's Net Worth?
Michael Gaughan is an American Businessman who has a net worth of $200 million. Michael Gaughan was born March 24, 1943 in Omaha, Nebraska. He is a casino owner and operator in Las Vegas, Nevada and the son of Jackie Gaughan, also a notorious casino owner. Michael Gaughan is the former owner of a NASCAR race team, South Point Racing, for which his son Brendan Gaughan formerly drove. Michael showed early interest in racing and went on to win the 1966 Mint 400 race. He won other races as well and his interest continued within 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.
The casino became the foundation for Coast Casinos. Michael Gaughan Airport Slots is located at McCarran International Airport. In 2004, Michael sold Coast Casinos for $1.3 billion to Boyd Gaming. In July 2006, Boyd Gaming announced it was selling the South Coast to Michael for an estimated $576 million. The South Coast was required to be renamed as a part of the purchase and was renamed South Point. Michael Gaughan was elected to the Gaming Hall of Fame in 2009. Gaughan graduated from Bishop Gorman High School in 1961, graduated from Creighton University in 1965 with a BSBA in Accounting and received his MBA in Labor Relations from the University of Southern California in 1967.
