Horace Ingersoll Bettis was born in Salem, Massachussetts on April 20, 1863. Bettis worked as an auditor of the San Pedro, Los Angeles and Salt Lake Railway for over ten years. He worked as Assistant General Auditor for Union Pacific Railroad (1898-1903) in Omaha, Nebraska, as Vice President and Auditor of the Las Vegas Land and Water Company, and served as Director, Treasurer, and Secretary of the Tampico Petroleum Company. Bettis died in Tipton, California on November 15, 1913.

Lester Benjamin "Benny" Binion was born on November 20, 1904 near Dallas-Fort Worth, in Texas. In 1951, Binion purchased the Eldorado Club on Fremont Street in downtown Las Vegas, Nevada and renamed it the Horseshoe Club. He established a reputation as a casino operator for providing customers with well-received hospitality and amenities. After his conviction for tax evasion in 1953, Binion sold the majority interest in the Horseshoe to Joe W. Brown, but later regained full ownership.