Thursday, Jan. 30, 1997 | 11:59 a.m.
A big California real estate developer seeking an increased presence in the Las Vegas gaming market has hired former Caesars Palace President Dan Reichartz.
Reichartz, ousted late last year in a dispute with ITT Corp. executives, was named president and chief operating officer of Majestic Resorts Inc.
Majestic, developer of the Boomtown hotel-casino in Las Vegas, is owned by Edward Roski Jr., who also owns a Los Angeles-based real estate development firm and is a partner in the Los Angeles Kings hockey team.
Roski's Majestic Realty owns 30 million square feet of business parks and retail centers in Arizona, Colorado, Georgia, Nevada and California and is developing the $300 million LA Sports and Entertainment Complex that will be home to the Kings and Los Angeles Lakers in 1999.
"Majestic is a company of superstars, and Dan Reichartz is certainly in that category," Roski said in a statement. "We believe his participation in Majestic Resorts sets the highest standard for quality of development and operation in the gaming-and-entertainment industry."
While he couldn't be reached for comment, Reichartz is unlikely to have joined Majestic solely to preside over expansion of the Western-themed 304-room hotel-casino now known as Boomtown. It seems certain he and Roski have ambitious plans to make Majestic a player in the industry, perhaps through the acquisition of an existing gaming operator.
Reichartz, president of Caesars Palace for nearly 10 years, left in December after repeated conflicts with ITT President Bob Bowman and Bowman aides. The disputes reportedly centered over attempts by Bowman and his associates to dictate strategic policies to the Reichartz team, a group of experienced gaming executives who believed the ITT mandates would hurt gaming operations.
Before that, he was vice president and general manager of New York's Waldorf Astoria Hotel. He also was instrumental in creation of the Nevada Pari-Mutuel Association and is a member of the Nevada Commission on Tourism, as well as several community organizations.
At the least, Reichartz' appointment may signal a new look for the hotel-casino at I-15 and Blue Diamond Road. Majestic Resorts built the project on a 56-acre site and leased it to Boomtown Inc., the Reno-based company that later agreed to merge with Hollywood Park Inc.
When the Hollywood Park indicated it was more interested in the Boomtown resort outside Reno than the one in Las Vegas, Majestic negotiated termination of the operating lease and agreed to take over operations upon approval of state gaming regulators.
Roski's statement indicated that, in addition to expansion, a possible name change and new theme are in the works for the property.
"Plans have already been approved for a 600-room, 12-story tower and additional restaurants," he said. "The next phase will include a major expansion that will enlarge the gaming area and add an exciting entertainment component."
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