Michael Gaughan (businessman)
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Michael Gaughan (March 24, 1943 in Omaha, Nebraska) is a casino owner and operator in Las Vegas, Nevada. Michael is the son of Jackie Gaughan and the owner of a NASCAR race team, South Point Racing, for which his son, Brendan Gaughan, drives.
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Early on Michael showed his interest in racing when he won the 1966 Mint 400 race. He went on to win other races. His continued interest continues to today with South Point Racing which he founded in 1999.
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. That casino, on only 4.3 acres of land, became the foundation for Coast Casinos.[1]
Michael Gaughan Airport Slots, the name for the slot operations at McCarran International Airport, is owned by Michael.
In 2004, Michael sold Coast Casinos for $1.3 billion to Boyd Gaming. In July of 2006, Boyd gaming announced that it was selling the South Coast to Michael for an estimated $576 million. The casino was built at a cost of $600 million. Having opened on December 22, 2005 this was still the most recently opened casino in the Las Vegas metropolitan area until the Red Rock Station casino opened.
The South Coast is now known as the South Point.
