VIP & VIP+
Exclusive Content   Join Now

Montelago set for casino

Jan 7, 2003 4:16 AM

By KEN WARD

A $500 million hotel-casino at Lake Las Vegas is ticketed to open this spring if Nevada regulators give their OK this month.

The 40,000-square-foot Casino MonteLago will be controlled by Cook Inlet Region Inc. of Alaska. The resort will be operated through Ciri Lakeside Gaming Investors and headed by casino veteran Dan Reichartz.

Approval for the project has been a long time coming. Because of Nevada’s strict licensing laws, regulators had to hammer out a precedent-setting agreement to permit thousands of tribal members to share in the gambling proceeds from the 350-room resort.

The result is a lengthy list of officers and directors. They include: Carl Harry Marrs, president and CEO; Mark Wade Kroloff, COO; Craig Allan Floerchinger, CFO and assistant treasurer; Barbara Ann Donatelli, executive vice president; Ashley William Schmiedeskamp, vice president finance; Robert Dennis Brandon, vice president tourism; Terry Lidvin Simpson, chairman of the board; Charles Gustav Anderson, vice chairman; Michael Ray Boling, treasurer and director; Bernice Agnes Brown, secretary and director; and directors Ronald George Perry, William Charles Prosser and Clare Margaret Swan.

Sybro LLC, the operator, is led by Dan Reichartz, president; Vice Presidents Daniel Howard Scott, Ashley William Schmiedeskamp; Robert Dennis Brandon, secretary; and Craig Allan Floerchinger, treasurer.

Sybro has contracted to operate the upscale resort for an undisclosed fee. Cook Inlet will retain 100 percent ownership of the project, including the adjacent 350-room Ritz-Carlton hotel scheduled to open by February.

Reichartz is a former executive at Caesars Palace. Scott previously worked at Caesars Palace and the MGM Grand.

"We want to have a good opening with the retail village - probably in late March or mid-April,’’ Reichartz told GamingToday.

"The casino will be the total package,’’ he added. Speaking of the posh resort and its amenities, Reichartz said, "Our food and beverage mix will be competitive with anyone.’’

Nevada Gaming Commission Chairman Peter Bernhard said the state was able to craft a license that will allow "proper regulation" without every one of Cook Inlet’s 7,000 shareholders submitting to a background check.

He added that it "will be more strictly regulated than other public corporations.’’

Casino MonteLago will be the second casino at Lake Las Vegas. Cook Inlet holds a 50 percent share in the Hyatt Regency at Lake Las Vegas, but doesn’t receive gaming profits there.

At build-out, Lake Las Vegas expects to have some 3,500 hotel rooms and condo units, along with six golf courses.