Article

Lyle Berman

Lyle Berman's profile is filled with a lifetime of achievements and awards, and it's a list he'll surely add to in the years ahead. It's in his nature to work, prosper, and strive for even greater accomplishments in business, poker, and life in general.

Born and raised in Minnesota, Lyle exhibited competitive and ambitious qualities throughout his early years, even as a toddler. When he was two years old, he followed his older sister to school in an effort to learn. A few years later, he was organizing marble games with a financial edge, running a lemonade stand with his sisters, and performing yard work around the neighborhood.

Finally, at the ripe old age of 10, he began working in his father's fur company, an employment opportunity that would develop over the years. A strong work ethic was instilled in Lyle by his parents, and his own competitive spirit propelled him to always give 110% to everything he did.

Through his years of making money as a youth, Lyle learned to save and invest. After working with his father for a while, he took the initiative to ask for a piece of the fur company. As an executive, he grew the business and engineered its sale for millions – enough to enable his father to retire.

LYLE'S NEW LOVE

He remained involved in the company in an executive capacity through several sales and repurchases, and saw Berman's Buckskins turn into Berman's stores, and then Wilson's, one of the best known leather retail stores in America.

As Lyle was taking the business world by storm, he had another passion that was rapidly finding its way into his life. Playing card games had interested him as a young boy, and he used to host poker games in college, but gaming took an appropriate back-seat to business. While the art of gambling intrigued him more and more as he matured, he was acutely aware of the importance of taking care of life's necessities before risking hard earned money.

Nevertheless, Lyle took some time to read Doyle Brunson's Super System in the 80s and decided to try his skills at a poker tournament in Las Vegas. Though he didn't win the event, he discovered that the thrill of the game and the fierce but subtle competition was something he craved.

By mastering the finer points of the game, he went on to win three World Series of Poker bracelets in the 80s and 90s.

Lyle's desire to play high-stakes cash poker games instead of tournaments led him to the Big Game, where a select few gathered in various cities on a regular basis to play poker for hundreds of thousands of dollars. Lyle had found a home for his passion, where the stakes were high to play an assortment of poker games with some of the world's top players. And 20 years later, he continues to play in the Big Game.

BUSINESS SENSE

However, as is always the case with Lyle, it was back to business. In 1990, he was approached to invest in an Indian casino in his home state of Minnesota, which seemed like the perfect combination of business and gaming. He became chairman and chief executive officer of Grand Casinos, which soon expanded and opened casinos in several states. Subsequently, it was identified by Fortune magazine as the fastest growing company in America, and in culmination, 1998 brought the substantial merger of Hilton Casinos and Grand Casinos, with the formation of the Lakes Gaming Corporation as a spin-off company.

Lyle might have been happy with the immense growth of his casino operations and innumerable business successes under his belt, but it can't be said that he will pass up a promising new business opportunity.

In 2001, Lyle agreed to meet with Steve Lipscomb to discuss a proposition to televise poker tournaments. It had the ingredients of a successful venture, including Lyle's gut feeling to invest in the idea. With the blessings of Lakes' Board of Directors, the finances were in place, and the first tournament was held, taped and offered for sale. The Travel Channel entered into an agreement with Lakes to air the first season of the World Poker Tour.

BRIGHT FUTURE

Today, the WPT is in its fifth season of production. WPT Enterprises broke from Lakes in order to become a public company in 2004, but Lyle, who had the confidence to back the project from the beginning, remains deeply committed and sits on the board of directors of WPTE. He plays an integral role in the company's decisions to license its products, broadcast its shows internationally, and find new ways to market the ever-growing WPT brand.

Lyle Berman has made a living from keeping an open mind and making sound investments and wise business decisions. Through these qualities and a tremendous amount of life experience, he has gained the respect of the business world and the poker community alike.

He has recently had a book published, aptly named I'm All In. The autobiography gives a considerable insight into his upbringing, work ethic, family and friends, and the secrets to his successful life so far.

**LYLEFACT**

Berman has bankrolled professional poker player TJ Cloutier in numerous poker tournaments.