Business
Berman grew up in Minnesota and attended the University of Minnesota where he graduated in 1964 with a degree in business administration. He then went to work for his father's leather business, Berman Buckskin. When the business was sold to W. R. Grace in 1979, he stayed on as president and CEO. The company was then later sold to the Melville Corporation where it became Wilsons Leather. From 1994 to 2000 he was the chairman and CEO of the Rainforest Cafe chain of restaurant and retail stores.
Berman also played an important role in gaming companies. In 1990 he was a co-founder of Grand Casinos Inc., a company that sought to create gambling establishments outside of Las Vegas and Atlantic City. Grand Casinos' Native American casino holdings were spun off into a new company, Lakes Entertainment, and Berman was named CEO. Additionally, Berman is the chairman of the board of the World Poker Tour and Pokertek.
He won the B'nai B'rith Great American Traditions award in 1995 and the Gaming Executive of the Year award in 1996.
Berman was one of the many investor victimized by the massive Ponzi scheme of Bernie Madoff, though his actual losses are unknown.
Read more about this topic: Lyle Berman
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