Iacocca lauded by Nevada casino regulators, OK'd to enter market
LAS VEGAS, Nev. Lee Iacocca received a warm welcome today by Nevada gambling authorities who approved an affiliated company's purchase of a small casino.
The auto industry icon once turned around the former Chrysler Corporation after years as an executive at Ford Motor Company.
Before approving the purchase of the Stockman's Casino in Fallon, Nevada Gaming Commission chair Peter Bernhard declared his love for the Ford Mustang, which Iacocca helped design.
Later, Iacocca said running a casino company is similar to running an auto company.
He says you need to set priorities, get good people around you and take care of customers.
Full House Resorts plans to enter the Nevada market with a 26 (M) million-dollar purchase of Stockman's Casino in Fallon, a town 60 miles east of Reno.
The deal is expected to close next week.
Iacocca is a Full House director and holds about 12 percent of the company's shares. |
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