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Lyle Berman age 64 Chairman of the Board is a 1964 graduate of the University of Minnesota with a degree in Business Administration. Mr. Berman began his career with Berman Buckskin his family's leather business. Over the next 16 years he helped grow the business into a major specialty retailer with 27 outlets.
When Berman's was sold to W.R. Grace in 1979 he continued as President and Chief Executive Officer and led the company to become one of the country's largest retail leather chains with over 200 stores nationwide.
Mr. Berman led a management buyout of Berman's in 1987 and in 1988 the company was sold to Melville Corporation and combined to form Wilsons The Leather Experts. In the spring of 1996 Mr. Berman participated along with current Wilsons' management in the purchase of Wilsons from Melville Corporation.
In 1990 Mr. Berman participated in the founding of Grand Casinos Inc. Mr. Berman is credited as one of the early visionaries in the development of casinos outside of the traditional gaming markets of Las Vegas and Atlantic City. Grand Casinos became a leader in this segment of the casino entertainment industry known as "emerging gaming" and in less than five years the company opened eight casino resorts in four states. In 1995 Grand Casinos was named the Fastest Growing Company in American by Fortune magazine.
In 1998 Grand Casinos completed transactions when Grand Casinos' Mississippi assets were merged with the gaming division of Hilton Hotels Corporation to form Park Place Entertainment Corporation now known as Harrah’s Entertainment. In 1999 Lakes Entertainment Inc. was formed as a result of Grand Casino’s Indian Casino Management business not being acquired by Park Place Entertainment.
In 1994 Mr. Berman financed the initial development of Rainforest Café and integrated restaurant and retail concept. He served as the Chairman and CEO from 1994 until 2000.
As Chairman of the Board and CEO of Lakes Entertainment Inc. Mr. Berman was instrumental in creating the World Poker Tour now a public company. The symbol is WPTE. In three short years World Poker Tour has revolutionized the game of poker through out the world.
In October 1995 Mr. Berman was honored with the B'nai B'rith "Great American Traditions Award" in April 1996 he received the Gaming Executive of the Year Award and in 2004 Mr. Berman was inducted into the Poker Hall of Fame.
Mr. Berman has been instrumental in the creation development and leadership of several public companies including:
· Chairman of the Board & Chief Executive Officer Lakes Entertainment Inc. (LACO.PK)
· Chairman of the Board World Poker Tour Enterprises (NASDAQ: WPTE)
· Chairman of the Board PokerTek Inc. (NASDAQ:PTEK) | 