Lyle Berman
- by Oliver Gaywood
For some, being a winner comes naturally. Lyle Berman seems to be one of those people.
The 2002 inductee into the Poker Hall of Fame has received plaudits from some of the top names in the world for more than one aspect of his life: poker legend Doyle Brunson lists Berman as one of the players he most respects in the game whilst billionaire tycoon Donald Trump thinks highly enough of his business skills to write the foreword for his autobiography I’m All In: Lyle Berman and the Birth of the World Poker Tour.
Born a few months before the bombing of Pearl Harbor in 1941, Berman was taught from an early age about the importance of money.
After the usual follies of a child with a lemonade stand and gambling on games, he was given his first real taste of the business world when he began to work for his father at the age of ten.
Berman acquired a taste for business and went to the University of Minnesota to study for a degree in business administration. He continued to work for the family’s leather business and remained as president and CEO after the business was sold to WR Grace. He eventually bought the company back for $93 million before selling it on at double that price. Between 1994 and 2000 Berman became the chairman and CEO of the Rainforest Café chain.
He learned poker at an early age and at university he would regularly host games for fellow students. He soon graduated to bigger stakes and was eager to try out the opposition in the World Series of Poker. He first started cashing in in 1984 and would go on to greater success later in the decade.
His first of three WSOP bracelets came in 1989, with the following two being won in 1992 and 1994. His earliest win came in the Limit Omaha event whilst the other two were both No Limit – Hold ‘em in ’92 and then Deuce to Seven Draw in ’94.
As well as playing the game, Berman has taken his business skills to the poker table. He has bankrolled TK Cloutier in many tournaments, including his second place finish in the 2000 WSOP main event. The closest Berman came to winning the main event was in 1989 when he finished fifth.
Business is still an important factor of Berman’s life. In 1990 he co-founded Grand Casinos Inc. and later became CEO of the spin off Native American casino holdings company. He is also a prominent member on the World Poker Tour board.
Berman is married with four children. His only son, Brad, has followed in his gaming footsteps and is earning a living on the poker circuit.
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