[4] During his time in the military he served at Las Vegas Air Force Base (now Nellis AFB), giving him his first exposure to the city.
[6] He quit his job at the hotel after mobster Davie Berman called him a "dime-a-dozen punk" for asking a favor of the maître d', although he retained three percent ownership of the property.
[2] Houssels had built the El Cortez and sold in 1945 to gangsters Bugsy Siegel, Meyer Lansky, Gus Greenbaum and Moe Sedway, only to buy it back later when Seigel and company needed to fund the Flamingo.
Upon purchasing the hotel, Gaughan inherited the care of mobster Irish Green, who did right by Bugsy Siegel and got put up in the El Cortez for life.
In 2004, Gaughan sold the Plaza, Gold Spike, Vegas Club and Western, along with substantial pieces of additional downtown real estate, to Barrick Gaming for $82 million.
Michael Gaughan owns the South Point Hotel, Casino & Spa as well as the rights to operate the slot concession at McCarran International Airport.