Independent from Long Beach, California on March 18, 1976 · Page 66
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Independent from Long Beach, California · Page 66

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Long Beach, California
Issue Date:
Thursday, March 18, 1976
Page:
Page 66
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\ n o 7 A \ «,,, Ro^rl* Preis-Te«9f*m, Wwrwwuy, Marcti W, It7 , P-2 Z-4 Long Beach i,KSwrviwt ( Wixvi*Y,M*rc*iu,im n X. 7 1 D * 7-A Innn rwirn rio»»-ivrcmini ( "TM"""*" mm*vtt*, mm P-O L-\i r-/i-* UXg Deatn mdep«nd«iM1iundav. March ll,im Ex-Southlander rides high atop vast Vegas empire: By BRENDAN RILEV CARSON CITY, Nev. (AP) -- Seven years ago Allen Click, son of a Pitls- burgb scrap iron dealer, was an $800-a-month real estate salesman. Today, · he sits atop a Las Vegas easlao empire second only to that of billionaire Howard Hughes. The 33-year-old finan- . -cier is said to be the single ·largest borrower from the ' Teamsters Union's Central · States, Southeast and !. -Southwest Areas Pension Fund, with some $160 mil- lion in loans for various business ventures! HIS HOLDINGS include the Stardust, Fremont and Hacienda hotel-casino operations and the gambling end of the Airport- Marina Casino. His dealings have sparked several lawsuits and the Nevada G a m i n g Commission recently levied fines totaling $77,000 against Click and three of his casinos. The board said a $500,000 loan made to Click by two Fresno men seeking to buy the Marina property violated a stale law prohibiting loans between parties negotiating casino purchases. Click has denied any irregularities in connec- . lion with his business dealings and characterized as "nonsense" news accounts Unking him to organized crime. CLICK SAID he had business dealings with a San Diego woman, Tamara Rand, who was shot to death last year in what' ICerlev's ] ^^^ ? ^ ^ ^ m m -^ · I^B I44fe 0m · · ^4/\ 1 Pineapple Carrots .. Pinto Beans . Fresh Spinach ».39 C 1 Lb. poly bag L**L \ OCC . ex. Large bunch £.J Lb 24 c 1QC . . Large Bunch I I IQC (every day special) Lb. I f QUANTITIES ON SOME SALE ITEMS LIMITED!! Prices Good thru 3-25-76 (No dealers please) Plus Many Other Low Prices We Reserve the right to limit quantities 9214 U.ONDU BLVD., BELLFLOWER TWO BLOCKS EAST OF LAKEWOOD BLVD. police called a gangland execution. But he termed reports that he might have been involved in her death "contemptible." "We were business associates and friends," he said. "But 1 had absolutely nothing to do with it. It's a terrible thing to put me in the same context with that thing." . Click said San Diego police bad asked to discuss the case with him but had not contacted him after he asked them to submit questions in writing. No charges have been filed against Click. "The taxpayers have p r o b a b l y spent more money investigating me than any other 33-year-old in the country," Click said. "They've come up with zero because there's zero to come up with." CLICK SAID, "Being involved in Las Vegas, being financed by thE Teamsters and my age probably add an element of intrigue to some people and makes me newsworthy." Click began his career as a real estate salesman for a San Diego firm, American Housing Guild, after leaving the Army as a captain in 1969. Two years later, in January 1971, he shifted to the Saratoga Land Development Corp. of San Diego, whose founder, Dennis Wittroan, gave him a 45 per cent interest 18 months later. Click said he received his interest for his work in building up Saratoga's sales. He said that at the time of the transaction his share of Saratoga was worth "in excess of a couple million dollars." Click m a d e his first move into I.as Vegas in late 1972, borrowing from Saratoga to purchase the Hacienda Hotel and Casino with three partners for $9 million. While with Saratoga, Click said, he also obtained a $12.5 million loan from the Teamsters pension fund to purchase an office building complex hi Austin, Tex. Click said the Texas purchase turned into a ALLEN CLICK good investment for the pension fund and in 1974 he obtained another loan, this one for $73 million, to finance the takeover of Rccrion Corp., owner of the Stardust and Fremont hotel-casinos. The purchase was made by Click's Argent Corp. in a complicated debenture and stock swap. The takeover brought inquiries from the Securities and Exchange Commission and a lawsuit from some Recripn shareholders dissatisfied with the terms. "1 went before the SEC three times and they were very thorough," said Click. No charges were filed in connection with the deal. The financier said he "originally became interested in casinos as an investment. It's a challenging field and very, very unique. To run a casino is probably one of the most difficult operations there is, but if operated properly it is a profitable endeavor." I n v e s t i g a t i o n s i n t o Click's empire have focused on his borrowing of $160 million from the Teamsters pension fund. Click said the fund was the logical source for the $73 million loan through which he gained control of the Stardust and Fremont because "the original mortgagee on the Stardust and Fremont was the pension fund, 10 to 12 years before I came into the state. They like to make loans in Las Vegas." Pete Echeverria, chairman of the Nevada Gaming Commission, said, "We never had any trouble with pension f u n d money. It has been a great help In developing Nevada casinos." Click later proposed an expansion program for the two clubs and the pension fund put in another (25 million. He said he has "no f u r t h e r acquisition plans at this time" and is concentrating on enlarging the Stardust and Fremont casino operations. \ Saratoga, meanwhile, is now involved in bankruptcy proceedings. Click, who still owns 45 per cent of the firm, said he put the firm into bankruptcy proceedings because he felt it was the best wayfS) re ganize it. ' ·" . "The company had a 1 of assets ana the bet wi to get them clear was put it into bankruptcy," said. "I thought it was ri business and "moral dm to do this because"ln tl long run .it could be tl right move. I'm close ' having a plan where I tal it back out of Chapter (bankruptcy proceeding and liquidate it and pi off the creditors." -\ Click said he doesii know exactly what h: holdings are worth.- CENTER MEAT CO. EVERY OUNCE OF OUR MEAT IS UNCONDITIONALLY GUARANTEED... DAYS MARCH 18 thru 21st ' /VER BACON SIRLOIN STEAKS SWISS SEMI-BONELESS CUSTOM FED ·' OR USDA GRADED CHOICE STEER BEEF DWARF MEYER LEMON Medium itred evofgren ihrutn--(ragrn n t f towen, lull me lemons almosl tho year oround. DWARF AVOCADO "Littlecado" SIRLOIN TIP ROAST- WASTE FREE... USDA GRADED I CHOICE or * ['CUSTOM FED 'STEER BEEF "Lear Bui Succulent" JACK or CHEDDAR CHEESE' WISCONSIN'S , ,, FINEST MILD ./"« AND CREAMY pound RUMPltEAST' YOUR CHOICE USDA GRADED CHOICE OR CUSTOM FED STEER BEEF ' FULL GOURMET CUT 1 EAL CHOPS KIDNEY or RIB SWEET BLOOM "GENISTA" Small compact evergreen shnjb. Sprays of yellow pea-like (lowers in spring. VEAL PATTIES BREADED COOK'S FINEST ... 4-OZ. PORTIONS STEW/WG TENDER TASTY CUBES OF EXTRA LEAN BEEF... Sunflower SHRIMP CLEANED, PEELED DEVEINED 1 89.. Plant now for Summer colors. · Dinner Ptale · Cactus · Pom Pom CANNED HAM 3 Ib. canC39 Wilton Certified or Dubuque Royil Bullet + FILET MIGNON BUTTER TENDER BEEF TENDERLOIN GROUNDJ^EAL fftKA I/AM ^CHATEAU BRIAND LOIN TR^ CUT PURE LEAN BEEF lib Q cS*PORKLOIN1 W fi*M» "U-L "I" HALF OR WHOLE · 1 M. cfeKH cut into chops TREE _ » 29 Ib ROSE GUARD' The 3 in 1 product that does it ail for roses! 5# Reg. 4.98 $349 *»·*?«·*«*; renterCentral MtMtff £^1 E 400 I.U 100'* RIG-3-*? REVLON FLEX SHMPOO 16-OX. u-ox- DRY ROUST DIM ORY POWDER r\NTl REGULAR, 6-ox. a :: BOTTLE I MR. COFFEE 100 COUNT »LL ITEMS SUIJtCT TOSTOCK ON HIND 47 j j wHirrninivo. IAST 10S AHCIlfS DAHLIA BULBS HYDRANGEA Semi-shade--large flowers. Pink, red, while and blue. Dolly *|JO-5:OO Op*" BELLFLOWER 9844 ARTISIA BLVD. 866-1610

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