According to the feature "2,000 Countdown", in the Ft. Lauderdale Sun Sentinal the answer is:
"On Palm Beach, Col. E.R. Bradley established the Beach Club, the most elegant and exclusive gambling casino in America. It operated illegally for nearly half a century, closing only after the colonel's death in 1946. Correct, conservative behavior was demanded of all club members, who were required to dress in formal wear. Noisy outbursts (YO Leven) could could remove even a high-roller from club membership. Even smoking was frowned on (except for large Cuban cigars). Large bets were not. (no nickel slots) Betting limits at the Beach Club were higher even than the less exclusive but more famous Monte Carlo.(These folks never sailed on the Dixie Duck) Col. Bradley also operated America's most successful racing stables (as well as whorehouses & the first chain of McDonald's restaurants in the world). His was the first stable to win four Kentucky Derbies."
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For a more detailed account of this casino, see "A Guide to Florida's Gaming, Chips, Checks & Tokens" Volume 1.