Preheat the oven to 325 degrees F (165 degrees C). Butter a 9x13-inch baking dish.
Put sliced potatoes into a large pot, and fill with enough water to cover. Bring to a boil, and cook until tender but still firm, about 10 minutes. Drain, and set aside.
At the same time, place bacon in a large deep skillet. Cook over medium-high heat until evenly browned. Remove to paper towels to drain.
Stir potatoes, cheese, onion, mayonnaise, salt, and pepper together in a large bowl; spoon into prepared baking dish. Crumble bacon over the top, and sprinkle with olives.
Bake in the preheated oven until golden brown, about 1 hour.
