Net Worth Ranker
What Is Don Laughlin’s Net Worth?
Don Laughlin, the American gambling entrepreneur, hotelier, and rancher for whom the town of Laughlin, Nevada, is named, had a net worth estimated at $1 billion. He built this wealth from humble beginnings, demonstrating an entrepreneurial spirit from a young age.
Early Life and Career Beginnings
Born Donald Joseph Laughlin on May 4, 1931, in Owatonna, Minnesota, he grew up on a farm seven miles from town; his father worked part-time as a trucker. Laughlin attended a country school where all eight grades were in one room, completing his education there around 1946. During his youth, he trapped mink and muskrat in the winters. He used the profits to purchase slot machines from a mail-order catalog and installed them in local pubs, sharing the profits with the owners. By the time he was a teenager, he was making $500 a week from his slot machine business. His school principal gave him an ultimatum: get out of the slot business or leave school. Laughlin, who was earning more than his principal, chose to leave school, having only attended high school for a year.
In the late 1950s, Laughlin moved to Las Vegas, Nevada. He bought his first casino, the “101 Club”, around 1954, and added slot machines. In January 1960, he built a new establishment across the street from the 101, keeping the same name, which tripled his business due to ample parking and a restaurant. He sold the 101 Club in 1964 for $165,000.
Building an Empire in Laughlin, Nevada
In 1964, while flying his private plane over the tri-state area near the Colorado River, Laughlin envisioned the potential of the area as a resort destination. He purchased a shuttered, eight-room riverfront motel on 6.5 acres for US$250,000. The landowner decided to sell to Laughlin because of his casino background. In 1966, Laughlin opened the Riverside Resort. It offered all-you-can-eat chicken dinners for 98 cents and had 12 slot machines and two gaming tables. Accommodations were limited to four of the eight rooms in the motel, as the Laughlin family occupied the other four.
The U.S. Postal Service decided to open a post office on the Nevada side of the river and named the community “Laughlin”. In 1972, the Riverside Resort Hotel & Casino expanded to 48 rooms. Further expansions included 52 rooms in 1975, a 14-story tower with 253 rooms in 1983, and another 14-floor tower with 307 rooms and an automotive museum in 1986. By 1994, the Riverside had grown to 1,404 rooms plus 800 recreational vehicle spaces.
Contributions and Community Impact
Laughlin made several significant contributions to the Laughlin community. He funded the construction of the Laughlin Bridge, connecting Nevada and Arizona, at a cost of $3.5 million. An estimated 50,000 residents and visitors cross the bridge each day. He also donated his ranch home in the Hualapai Mountains near Kingman, Arizona, valued at $1.2 million, to Mohave Community College. Additionally, he spent $9 million on flood control and planning for Laughlin/Bullhead City International Airport, which can accommodate Boeing 737s.
The Riverside Resort employed almost 2,000 people with an annual payroll of nearly $40 million.
Real Estate and Investments
Laughlin’s primary real estate asset was the Riverside Resort Hotel & Casino in Laughlin, Nevada. He purchased the original eight-room motel for $235,000 ($35,000 down) and transformed it into a sprawling resort. Laughlin also owned a cattle ranch near Kingman, Arizona, and had a home in the Hualapai Mountains, which he donated to Mohave Community College. In 2002, Laughlin Investments, Inc., was registered in Florida, listing Don Laughlin as President and Sara M Laughlin as Vice President.
Personal Life and Legacy
Don Laughlin married Betty L. Jones in 1953, and they had three children. Betty passed away in 2022. Don Laughlin died on October 22, 2023, at the age of 92, in Laughlin, Nevada. Laughlin was inducted into the Gaming Hall of Fame in 1991.
Laughlin’s impact on the region is immense. Laughlin transformed a barren desert into a major tourist destination attracting nearly 5 million annual visitors. In 2024, the State of Nevada proclaimed August 2 as Don Laughlin Day.
