Jack Binion is a highly respected name in the casino gambling industry.  And now that Steve Wynn has named Binion to be the Chairman of Wynn International, as well as the Senior Executive for Asian operations in Macau, Binion's legacy will be making an even stand.  Steve Wynn is arguably the most popular and likeable man in Las Vegas.  So when two powerhouses like Binion and Wynn announced their formal relationship, it was something of a heartwarming ordeal.

The two casino tycoons developed a friendship and mutual respect for one another back when Binion ran Binion's Horseshoe and Wynn owned the Golden Nugget Casino.  However, since that time, Binion somewhat stepped out of the scene when he sold Horseshoe Gaming to Harrah's Entertainment in 2004.  The deal was worth nearly $1.5 billion - giving Harrah's ownership of Binion's small empire and three very successful riverboat casinos in Indiana and the Gulf region.  The deal also came with a non-competition clause that required Binion to never work for any domestic competitors of Harrah's except in Nevada.

Now Binion is most definitely going to be competing with Harrah's in Nevada, not to mention drumming up some very strong competition for Stanley Hoe in Singapore.  The Asian region is known for producing some very high rollers, which most casino executives would agree that nobody is more suited to handle than Jack Binion.  A man of Southern charm and warmth, Binion has what it takes to develop meaningful one-on-one relationships with players, which is precisely the key ingredient in keeping the business of high rollers.

The casino industry is calling the appointment of Jack Binion a "masterstroke".  Even Wynn himself was contagiously excited to announce the naming of Binion, referring to the assets that Binion will be bringing to Wynn Resorts as "extraordinary".  As for casino gambling market investors, the news caused a stir, resulting in more than double the normal trading volume at over 2.3 million shares.