Leroy's Horse & Sports Place, also known as Leroy's Race and Sport Book or simply Leroy's, was an operator of
sports books in
Nevada
Nevada ( ; ) is a U.S. state, state in the Western United States, Western region of the United States. It is bordered by Oregon to the northwest, Idaho to the northeast, California to the west, Arizona to the southeast, and Utah to the east. N ...
. As of 2012, it had 72 race and sports books and kiosks. It was based in
Las Vegas
Las Vegas (; Spanish for "The Meadows"), often known simply as Vegas, is the 25th-most populous city in the United States, the most populous city in the state of Nevada, and the county seat of Clark County. The city anchors the Las Vegas ...
. Leroy's parent company, American Wagering, was purchased by British bookmaker
William Hill in 2012, and its locations were rebranded under the William Hill name.
History
Inception & expansion (1978-1996)
In 1978, businessman Leroy Merillat bought a sportsbook in a strip mall in
Downtown Las Vegas
Downtown Las Vegas (commonly abbreviated as DTLV) is the central business district and historic center of Las Vegas, Nevada. It is the original townsite, and the Downtown gaming area was the primary gambling district of Las Vegas prior to the St ...
, and named it “Leroy’s” after himself.
The following year, Nevada gaming regulators found Merillat unsuitable for licensing because of questions about the propriety of a land deal in California, and he was forced to sell the business. Merillat sold the operation to his son-in-law, Vic Salerno, in 1979.
Nevada sportsbooks at the time were predominantly independent operations, rarely found in casinos.
Around 1983, the popularity of sportsbooks began to boom and they started to become more common in casinos.
Salerno developed one of the first computerized sportsbook management systems to make his operation more efficient and able to compete with the large casinos.
In 1984, Salerno and two partners formed CBS Computer Systems to market their system to other sportsbook operators.
The company, which shared the building with Leroy's, was soon providing systems to almost all of Las Vegas's bookmakers.
They sold CBS in 1989 to
United Tote
United Tote is an American company that provides totalizator equipment and services for parimutuel wagering at racetracks. It is owned by Churchill Downs, Inc.
History
United Tote was founded in the 1950s by the Shelhamer family of Montana.
...
for $3.5 million.
In June 1989, Nevada law was changed to allow outside operators for casino sportsbooks, and Leroy's quickly took advantage of the new law by beginning to open branches in casinos.
By 1992, Leroy's was the only independent sportsbook in the state, and had branches operating in 30 casinos.
As publicly traded company (1996-2012)
Leroy's was placed under a holding company, American Wagering, Inc. (AWI), and made its
initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
in May 1996. Leroy's had 35 locations at the time. The funds raised in the IPO were used to complete the purchase of a 150-room
Howard Johnson's
Howard Johnson's, or Howard Johnson by Wyndham, is an American hotel chain and former restaurant chain. Founded by Howard Deering Johnson in 1925 as a restaurant, it was the largest restaurant chain in the U.S. throughout the 1960s and 1970s, ...
hotel and casino near the
Las Vegas Strip
The Las Vegas Strip is a stretch of Las Vegas Boulevard, Las Vegas Boulevard South in Clark County, Nevada, that is known for its concentration of resort hotels and casinos. The Strip, as it is known, is about long, and is immediately south of ...
, which the company planned to remodel as a sports-themed resort.
In October 1996, AWI bought CBS back from
Autotote Corp. for $3 million, and renamed it as Computerized Bookmaking Systems.
AWI agreed in April 1997 to buy Imagineering Systems, a maker of
keno
Keno is a lottery-like gambling game often played at modern casinos, and also offered as a game in some lotteries.
Players wager by choosing numbers ranging from 1 through (usually) 80. After all players make their wagers, 20 numbers (some va ...
systems, for $3 million, but canceled the deal in September 1997, deciding instead to build a progressive keno system in-house. Imagineering sued AWI for breach of contract, and was eventually awarded $1.2 million. Meanwhile, AWI launched The Game, a keno offering with progressive jackpots linked to multiple casinos, in August 1999. The company closed its keno operations in 2002.
In July 1997, AWI and
International Game Technology
International Game Technology PLC (IGT), formerly Gtech S.p.A. and Lottomatica S.p.A., is a multinational gambling company that produces slot machines and other gambling technology. The company is headquartered in London, with major offices in ...
jointly launched MegaSports, a
parimutuel
Parimutuel betting or pool betting is a betting system in which all bets of a particular type are placed together in a pool; taxes and the "house-take" or "vigorish" are deducted, and payoff odds are calculated by sharing the pool among all winnin ...
sports betting system offering high-value
progressive jackpot
A progressive jackpot is a jackpot (a gambling grand prize or payout) which increases each time the game is played but the jackpot is ''not'' won. When the progressive jackpot is won, the jackpot for the next play is reset to a predetermined value ...
s to bettors at Leroy's and other Nevada sportbooks. The company shut down the project in 2000.
AWI, through an Australian subsidiary, launched an online site offering race and sports betting under the MegaSports name in 1999.
The site accepted wagers worldwide, except from bettors located in the United States.
It was believed to the first
online gambling
Online gambling is any kind of gambling conducted on the internet. This includes virtual poker, casinos and sports betting. The first online gambling venue opened to the general public was ticketing for the Liechtenstein International Lottery in ...
venture by a company licensed in Nevada. Trouble arose, however, later that year, when the
Nevada Gaming Commission The Nevada Gaming Commission is a Nevada state governmental agency involved in the regulation of casinos throughout the state, along with the Nevada Gaming Control Board.
In 1959, the Nevada Gaming Commission ("Commission") was created by the pass ...
accused MegaSports of accepting bets from an agent located in Las Vegas who went through a Canadian Internet provider. AWI was ultimately forced to sell the site, or risk losing its Nevada gaming license.
MegaSports was sold in July 2002 to Eurast Ltd. of
Perth
Perth is the capital and largest city of the Australian state of Western Australia. It is the fourth most populous city in Australia and Oceania, with a population of 2.1 million (80% of the state) living in Greater Perth in 2020. Perth is ...
for $2.8 million.
The Howard Johnson's hotel was sold in July 1999 for $4.3 million.
Michael Racusin, a financial consultant who assisted with the IPO, filed a lawsuit claiming he was not paid his full fee.
After a court awarded him $1.3 million in July 2003, American Wagering was forced to file for
Chapter 11 bankruptcy protection
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, wheth ...
.
Youbet.com attempted to buy the company out of bankruptcy for $9.5 million, but eventually withdrew its offer. The company emerged from bankruptcy in March 2005, with most debts having been paid in full, and shareholders retaining their equity in the company.
The company acquired Sturgeon's Inn & Casino in
Lovelock, Nevada
Lovelock is the county seat of Pershing County, Nevada, United States, in which it is the only incorporated city. It is the namesake of a nearby medium-security men's prison and a Cold War-era gunnery range. Formerly a stop for settlers on the ...
in March 2006 for $1.8 million.
In 2007, Leroy's began opening sports betting
kiosks
Historically, a kiosk () was a small garden pavilion open on some or all sides common in Persia, the Indian subcontinent, and in the Ottoman Empire from the 13th century onward. Today, several examples of this type of kiosk still exist in an ...
at its casino locations, allowing patrons with established accounts to place bets at all hours of the day.
The following year, the kiosks began being installed in bars and taverns as well.
The company began releasing mobile betting applications for
smartphones
A smartphone is a portable computer device that combines mobile telephone and computing functions into one unit. They are distinguished from feature phones by their stronger hardware capabilities and extensive mobile operating systems, which ...
in 2010,
which proved popular.
In June 2012, British bookmaker
William Hill bought American Wagering for $18 million, along with Lucky's Race & Sports Book and the satellite sportsbook operations of
Club Cal Neva
Club Cal Neva is a casino and former hotel located in Downtown Reno, Nevada.
The casino has 849 slot machines, 41 table games, 3 poker tables and a race and sports book
In the United States, a sportsbook or a race and sports book (sometime ...
.
Salerno was named chairman of William Hill U.S., overseeing 55 percent of the state's sportsbook locations, all of which were rebranded under the William Hill name.
Locations
As of 2012, Leroy's operated sportsbooks and kiosks at 72 locations,
including:
*
Avi Resort & Casino
Avi Resort & Casino is a hotel and casino located near the southern tip of Nevada on the banks of the Colorado River in Laughlin, Nevada, next to Fort Mohave, Arizona. Within walking distance of the California and Arizona borders, it is owned by ...
*
Buffalo Wild Wings
Buffalo Wild Wings (originally Buffalo Wild Wings & Weck, hence the nickname BDubs, or BW3) is an American casual dining restaurant and sports bar franchise in the United States, Canada, India, Mexico, Panama, Philippines, Saudi Arabia, and Unit ...
(9 locations)
*
Colorado Belle
The Colorado Belle is a casino hotel on the banks of the Colorado River in Laughlin, Nevada, owned and operated by Golden Entertainment. Initially closed on March 17, 2020 due to the COVID-19 pandemic, on May 18, 2020, Golden Entertainment announc ...
*
Dini's Lucky Club
Dini's Lucky Club is a casino located in Yerington, Nevada which claims to be the "oldest family owned casino in Nevada" (since 1933).
History
Dini's was founded in downtown Yerington in 1933 as the Wooden Shoe Club by Giuseppe "Joe" Dini, Sr.. I ...
*
Edgewater Hotel and Casino
The Edgewater Hotel and Casino is a casino hotel on the banks of the Colorado River in Laughlin, Nevada, owned and operated by Golden Entertainment.
Facilities
The hotel has 1,053 rooms divided between two towers: a large 26-story tower, Sedona ...
*
Ellis Island Casino & Brewery
The Ellis Island Casino & Brewery is located near the Las Vegas Strip in Paradise, Nevada. The casino offers 350 gaming devices, as well as restaurants, a Karaoke bar and a brewery.
History
The Village Pub was opened in 1967 by Frank Ellis, who e ...
*
Golden Gate Hotel & Casino
The Golden Gate Hotel & Casino is located at One Fremont Street in Las Vegas, Nevada, United States. A part of the Fremont Street Experience, it is the oldest and smallest hotel (122 rooms) on the Fremont Street Experience.
John F. Miller initial ...
*
Gold Spike Hotel and Casino
Gold Spike (formerly Gold Spike Hotel & Casino) is a bar, lounge, residential building, and former boutique 112-room, seven floor hotel. It is connected with the Oasis at the Gold Spike, a 50-room three floor hotel located in downtown Las Vegas. ...
*
Gold Strike Hotel and Gambling Hall
Terrible's Hotel & Casino, formerly the Gold Strike Hotel and Gambling Hall, is a defunct casino hotel in Jean, Nevada, approximately north of the California state line, and about south of Downtown Las Vegas. It opened in 1987, and closed in 2 ...
*
Hacienda Hotel & Casino
*
Hooters Casino Hotel
Oyo Hotel & Casino (stylized as OYO Hotel & Casino) is a casino hotel near the Las Vegas Strip in Paradise, Nevada, United States. It is owned by Highgate and Oyo Hotels & Homes, and its casino is operated by Paragon Gaming. It is located next ...
*
Hotel Nevada and Gambling Hall
Hotel Nevada and Gambling Hall, also known as the Historic Hotel Nevada and Gambling Hall, is a hotel and casino located at 501 Aultman Street in Ely, Nevada.
The Hotel Nevada was built at a cost of $400,000, and was opened on July 7, 1929, wit ...
*
Klondike Sunset Casino
*
Lucky Club Casino and Hotel
Lucky Club Casino and Hotel is a casino and 118-room hotel located on in North Las Vegas, Nevada. The casino is owned and operated by Fifth Street Gaming.
History Budget Host Inn
In June 1995, after spending eight years in bankruptcy, the Budge ...
*
Opera House Casino
*
Poker Palace
Poker Palace is a locals casino located at 2757 North Las Vegas Boulevard in North Las Vegas, Nevada, near Nellis Air Force Base.
History
The property was constructed in 1951, and initially operated as Bunny's Bar, popular among employees of the ...
*
Railroad Pass Casino
Railroad Pass Hotel & Casino, named after nearby Railroad Pass, is a hotel and casino located in Henderson, Nevada.
The casino has of gaming space, with 323 slot machines and six table games, and a William Hill sports and race book.
Location
T ...
*
Red Garter Casino
Red Garter is a hotel and casino located in West Wendover, Nevada just west of Rainbow. As of 2022, the Red Garter Hotel remained operated by Maverick Gaming.
History
Red Garter was originally a smaller casino with a connecting Super 8 m ...
*
Siena Reno
The Renaissance Reno (formerly Holiday Reno and Siena Reno) is a hotel and former casino in Reno, Nevada. It opened in 1956 as the Holiday, closed in 1998, and reopened as Siena in 2001. It uses the Renaissance Hotels brand under license from M ...
*
Silver Nugget
The Silver Nugget is a casino and arena located on Las Vegas Boulevard North in North Las Vegas, Nevada. The casino is owned and operated by Fifth Street Gaming. The casino site covers and includes a arena.
The sports book is operated by L ...
*
Silverton Las Vegas
Silverton (formerly Boomtown Las Vegas) is a 300-room hotel and casino in Enterprise, Nevada, Enterprise, Nevada, near the southern end of the Las Vegas Valley. It features a National Park Service rustic, rustic lodge theme and a casino.
It is ow ...
*
Skyline Hotel and Casino
*
Stagecoach Hotel & Casino
*
Tropicana Express Hotel and Casino
The Tropicana Laughlin (formerly Ramada Express and Tropicana Express) is a casino hotel in Laughlin, Nevada. It is owned by Gaming and Leisure Properties and operated by Caesars Entertainment. The hotel has 1,498 guest rooms and suites, located ...
*
Wendover Nugget
Wendover Nugget is a hotel and casino located in West Wendover, Nevada. In addition to the Montego Bay Resort, it is located right on the border line between Utah and Nevada. There is a connecting skyway between the Nugget and the Montego Bay. ...
*
Westin Casuarina
References
{{DEFAULTSORT:Leroy's Horse and Sports Place
Bookmakers
Companies based in the Las Vegas Valley
Gambling companies of the United States