Background
Berman grew up in Minnesota and attended the University of Minnesota where he was graduated in 1964 with a degree in business administration. He then went to work for his father"s leather business, Berman Buckskin.
Berman grew up in Minnesota and attended the University of Minnesota where he was graduated in 1964 with a degree in business administration. He then went to work for his father"s leather business, Berman Buckskin.
University of Minnesota.
When the business was sold to West. R. Grace in 1979, he stayed on as president and Chief Executive Officer. The company was then later sold to the Melville Corporation where it became Wilsons Leather. From 1994 to 2000 he was the chairman and Chief Executive Officer of the Rainforest Cafe chain of restaurants and retail stores. Berman also played an important role in gaming companies.
Grand Casinos" Native American casino holdings were spun off into a new company, Lakes Entertainment, and Berman was named Chief Executive Officer. Additionally, Berman is the chairman of the board of the World Tour and tek.
Berman was one of the many investors victimized by the massive Ponzi scheme of Bernie Madoff, though his actual losses are unknown. In 2005, Lyle Berman competed in the National Heads Up Championship.
His 16 cashes at the WSOP account for $1,446,317 of those winnings. He was inducted into the Hall of Fame in 2002.
According to the James McManus book Positively Fifth Street, Berman has bankrolled T. J. Cloutier in numerous poker tournaments, including the 2000 WSOP main event, where he finished 2nd.
The book All-In is about Berman"s life. Berman currently resides in Plymouth, Minnesota and has 4 children.
In 1990 he was a co-founder of Grand Casinos, a company that sought to create gambling establishments outside of Las Vegas and Atlantic City. He won the B"nai B"rith Great American Traditions award in 1995 and the Gaming Executive of the Year award in 1996. Berman has won 3 World Series of (WSOP) bracelets and is a member of the Hall of Fame. He finished in fifth place losing to eventual champion Philosophy Hellmuth Junior.
