The Fresno Bee from Fresno, California on November 8, 1983 · 34
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The Fresno Bee from Fresno, California · 34

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Location:
Fresno, California
Issue Date:
Tuesday, November 8, 1983
Page:
34
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V tt D6 Tuesday Nov 8 1 983 THE FRESNO BEE Partners make Economic rally gives casinos 97 growth rat© - 1 If HA - i Ua HNWI ( ion I a mint out of Or Vegas losers Associated Press LAS VEGAS — In a state where high rollers are courted In corporate Jets and fancy limousines and financial strength Is measured in markers one of the most successful gaming operations caters to campers and kids in a circus atmosphere Today arcus Circus Enterprises Inc is considered a virtual money machine with lutel-casino operations in Las Vegas Reno and Laughltn Nev The company’s stock went public Oct 25 selling more than 4 million shares and raising nearly $66 million on opening day For a time it was the most actively-traded issue on the New York Stock Exchange a first for a Nevada corporation But the operation was not always so 'glamorous It was in fact a second-choice white-and-pink elephant for the two gaming executives who turned the property around ‘I personally didn’t think it would work" arcus Circus board chairman William Bennett said of the idea of operating a family-oriented property in the heart of America’s gaming capital "But we inherited this place and had to live with what we had” h!ln 1973 Bennett and partner William remington were searching for a casino "doing Very badly me on the verge of bankruptcy that We could turn around" Their first choice was the Landmark which was then owned by the late billionaire Howard Hughes Every time they thought they had a deal Hughes or his people would raise the ante vi-The other option was arcus arcus a pink-Und-white circus tent casino and hotel owned by Las Vegas entrepreneur Jay Sarno who also Jxiilt Caesars Palace IV The early arcus arcus housed gaming tables next to kiddie attractions a shooting gallery ung up 2500 square feet of prime casino space bumper cars and a game where you tossed a ball hit a target and knocked a nude woman out of bed It was Bennett recalled rdilving the Gaming Control Board nuts” -mitmm e a W -- PlwMia urn CARSON CITY - Nevada casinos reboundin from "'-oitir Indicator continuing feei'te ttestate That' up 109 peredrt wsw-r- JSJttJEZAEZ pnttnnn'' eactTquarterly Increase has been the Las Vena nrea Thnt’s an increaaeof 69 percent over the same quarter in 1983 ' In the Reno-North Tahoe area clubs collected $1774 million for a healthy J38 percent growth rate Hyte said tht improved revenues were in line wTrti increases in air and highway traffic 'hi recent months In the Stateline area on Tahoe’s South Shore casinos pulled in $914 million for a 158 percent growth rate "The Landmark and Circus arcus were both Je” Bennett said recently in a rare iterview "The Landmark deal was dead and all the sudden this one popped onto the market ter we got into the place and looked into the lumbers the volume it was generating we were fod we got into this instead of the Landmark jy Circus Circus were generating everything Bennett hadtumed two losing Del Webb ies — the Mint in Las Vegas and the at Lake Tahoe — into winners His magic kbiich had Circus arcus showing a profit two months after he took over in 1974 In the past five years the company has seen revenues Jump from $70 million to $190 million income before taxes shoot from $13 million to 332 million A balance sheet shows assets of 265 million And in the hotel business where 80 percent xcupancy is excellent 90 percent outstanding Circus Orcus properties have consistently run at phenomenal 995 percent Bennett and Pennington company president will receive more than $27 million from the mbPc offering and will retain 76 percent interest n the company The remaining $38 million from the stock offering will go to retire debt as well as expand Las' Vegas and Reno and possibly build a " “rst on the agenda I property at Laughlin First ay be a 650-room $25 million tower addition in leno PUBLIC NOTICE 199) notkx of nusnrs sale fcyou AH N Off AULT UNDSl THE WO OF TRUST DATED 11077S ink you takx action to protect rout property it — MAY K SOU) AT A PUiUC SAUL YOU Nffi) AN EXPLANATION OP THE NATURE OF THE PROCEED® AGAMST YOU YOU MOULD CONTACT A LAWYER O-Tunday Narabur 22 1983 al 1040 Ait HOME FEDERAL SAVINGS AND LOAN ASSOCIATION Coiportoiaii famurly know to HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF SAN KGO m Tnatoc unitor dnd of tort dated 1 10778 iigMd by -' 80S8Y BREWER AND LOIS L BREWER iahdnworM 111778 a Doraurt 128789 leak 7162 Page 436 !af the Official Rncord of Fiamo County CaWomia wM nl at piAfic f mm WfiNMi m i ivmv — ’"""-i — — — r— auction to 8 higho biddw far cart in United States DaBarv at f Entranca To Tim County Couriheun ' 1 100 Van Nm Aw City of Fra I Fruino County California I rigM 88a and Mmt eonuoH to and now hold by II under 8 i itotonwna m Conor Manor h Tfiu CHy Of Ftow ‘ Cafifaraia Aocontng to Map 1 hgo 60 of Ftah in Rn Offico of r of Hid County r oltiur cannon dnignotow of Rio abort wJ 1 pnpurty b bnoM to w aa f 1217 Eod Coin fiw IB lltoidi48boowdMlraBOonantorworatyawraor t InpEtd lagaring 8tl poumdoa or ontutotaanco to pay Bio unpaid ‘ ! principal ra of $674673 piw intend an pnwidud to 8w not m-ipurtd by the diad of tout ph ao addition itondud amount of t 60li)0 B ay and Iho tanai of too dood of too and too diargM and onpoMH of Iko Trudao I ( Jht UndurBunuficiory undur Bio dad of M ban dgnod and tetoarad of tha Tnrtoo a Dadamfion of DafouB of 8 efafigefent w-t d by At dMd of toMt and a Nolico of Drfai and Elockon to Srf 1 t ich racontod an 90683 ai Doraonl 83039314 BoctoFttgo of iftlfciinlBunnwfc I IhM id 48 bu oonduclid by (4 CAUFORNIA POSTING AND PUNISHING COMPANY I abort addra and phono awabar in !f 1028 NORTH LAKE AVENUE SUITE 201 !j PASADENA CA 91104 FH 213691-4546 !Patoj018R3 HOME FBJERAl SAVMGS AND LOAN ASSOCIATION a Corporation an Tmteu By: iUNDAR WARNER Maragm Tnaton Dtpartnra V 18 IS 1983) Rain Damaged Raisin ti KOW VOU CfifS GET THE BEST BJAB9E 198 BUSINESS RADIOS FHOea JUST $329 ITS THE IBID PERSOfifiL COfflPUTER fiTCOfflPUTERLnnD ROW Molcsiola dotoonft Just make Ihto moot pttoRHotoua b4lnM iodk In fh woiki Wto alwofltorthe vakra ForHwtanee youoan buy a Motorola MOXV Mok Unit for an unheard-of S329 0 a portable HT-90 for only W In lacf wafVai itoductod pitctoa on over 300 modtola Onto of Ihtorneanalwyoulhtoltmto-aavlna fUdtonoylt'afyou cSdnrtmmk you couki afford To find out morto cdl your local Motorola oftlca at OR CALL US TOLL FREE AT 1-800-626-6606 ASK FOR KAREN KING “ ggsss? marketing (M) MOTOROLA W53E? Communfcmtktnm mnd Etmctronlt Ino Mnuii aMBtewun Just a few of the IBM's key features are: A powcrfiil 16-bit micnipnKrsstir e 64K memory expandable to 640K e 83-key detachable keyboard ' Ditik drives -double sided double density Diagnostic self-tester $3313" Come on inVtt want to show txi the IBM fcraonal j- Computecltk one of the most popular computefs on - the market and with good ivaMa This computer - o&rs virtuiilh' ewrtrana you need ft r your business or 1 your home With ityou’ll haw aux to a complete software library Comcin and see it Make friends with the future:'' Today C mHfiNNpMRfiaad THE NURSERY SHOPPING CENTER 4047 N Blackstone at Griffith :c Fresno Phone 224-8200 ?ii ’ OPEN TUES THRU FRI-10 AM -6 PM SAT -10 AM -5 PM ’s!q TIMES SQUARE SHOPPING CENTER 3025 W Shaw at Marks Fresno Phone 225-8600 H'i i' I?1 s' fx )- s v-sVX- V ' ' H ' AMERICAN SAVINGS AND LOAN ASSOCIATION Headquarters: Stockton California 800-227-8571 A SERVICE OF FINANCIAL CORPORATION OF AMERICA fir -‘Vl I ' 'I I m si ! ” top Dollar Paid CALL NOW V - (203) 209) "264-1558 252-2344 (evenings) RitoWhfilAAl iWdkiWRBfi

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