GAMING INDUSTRY VETERAN HARRY WALD NAMED VICE PRESIDENT OF PLANNING; WILL HEAD RE-DEVELOPMENT OF LVEN'S 'EL RANCHO'S COUNTRYLAND U.S.A.'
LAS VEGAS, Oct. 13 /PRNewswire/ -- NOTE TO EDITORS: Repeating with revised information in the first paragraph: Harry Wald, for over 30 years a major executive in the Las Vegas gaming and entertainment business, has been chosen to join Las Vegas Entertainment Network Inc. (NASDAQ: LVEN) as vice president of planning, and will direct the re-development of the El Rancho Hotel and Casino, Las Vegas, which will be re-opened in 1994 as "El Rancho's Countryland U.S.A." by LVEN, a gaming and entertainment media company. Wald will be working closely with LVEN's gaming division. Based in Las Vegas, Wald was previously president and vice chairman of Caesars Palace. Before joining the "El Rancho's Countryland U.S.A." project, Wald operated his own consultancy business to various gaming entities. "We are fortunate to have obtained the services of such a thoroughly experienced executive to oversee what will be a unique and dramatic addition to the city of Las Vegas," said Byron Lasky, spokesman for LVEN. Las Vegas Entertainment Network (LVEN) recently announced advances of $10.5 million toward the Oct. 20, 1993, closing date for its acquisition of the original El Rancho Hotel and Casino. The new "El Rancho's Countryland U.S.A." will become a full-time family resort destination, with a family-oriented theme park featuring country-style entertainment and family attractions. Set for construction are two multistory towers -- that will resemble a gigantic pair of Western-style boots, 20 stories high -- to bring "El Rancho's Countryland U.S.A." accommodations up to 2,001 rooms. "This will be a major advancement for Las Vegas," says Wald. "It will encompass all 22 acres of the `El Rancho's Countryland U.S.A.' facility and bring a new kind of country theme park locale to the city." Wald himself is experienced in developing hotels and casinos in Las Vegas and around the country. As president, vice chairman and chief operating officer of Caesars Palace, he was involved in the development and construction of that facility from the very beginning in 1963, as well as Caesars Tahoe and Caesars Palace Atlantic City, acting as Owners Representative during the design and building phases, working with governmental and licensing authorities. He was also responsible for opening satellite offices for Caesars World in Australia, Japan, Korea, Egypt and South and Central America. At Caesars Palace, Wald had great success with the hotel and casino's innovative marketing to create world attention with such super special events that brought professional boxing, tennis, auto racing, World Cup soccer and National Finals rodeo to Las Vegas. Wald was particularly involved in the World Cup soccer and National Finals rodeo events. Wald was also president of MGM International Division and senior vice president of MGM Grand Hotel. He personally negotiated with the New York Racing Association and various California tracks to bring Simulcasting from various racetracks into Nevada. For many years, Wald has been licensed by the State of Nevada for gaming. Wald has been president, Nevada Resort Association; vice chairman, Las Vegas Chamber of Commerce; board member, Las Vegas Convention and Visitors Authority; president, Las Vegas Events; Charter member, Founders Club of Las Vegas. He has also served as State Delegate to the White House on national growth and economic development. Wald's highly decorated military career spans 36 years, including combat during World War II. He was presented with the highest civilian award given by the U.S. Air Force -- the Exceptional Services Award (by Secretary of the Air Force, Vern Orr). He retired, as Brigadier General, from the National Guard in 1978 and continues to be active with the U.S. Air Force Thunderbirds, and the Civilian Military Council of Southern Nevada. He is a member of the Military Academy's Nominating Board, and member of the Board of Visitors, U.S. Air Force University. The U.S. House of Representatives presented a tribute in the U.S. Congressional Record naming Wald the Horatio Alger, 1981. The tribute was made by Speaker of the House to the 97th Congress, Hon. Jim Wright. Wald has an Honorary Doctor of Laws Degree, University of Nevada, Las Vegas. -0- 10/13/93 R /CONTACT: Ian Dove or Lee Solters of The Lee Solters Co., 213-651-9300; or Jay Goldberg (investor relations) of LVEN, 800-544-6640/ (LVEN)
CO: Las Vegas Entertainment Network Inc. ST: Nevada IN: CNO LEI SU: PER
MF-JL -- LA040 -- 1883 10/13/93 17:08 EDT
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|Date:||Oct 13, 1993|
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