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Cal-Neva bookie offered Golden Nugget position

Sep 30, 2003 8:03 AM

Nevada gaming industry veteran Chris Andrews will take the helm of the race and sports book operations of the Golden Nugget hotel-casinos in Las Vegas and Laughlin, according to the entrepreneurs who are purchasing the properties from MGM Mirage.

"Chris Andrews is hands down the best race and sports operator in the gaming industry," said Tim Poster, who along with Thomas Breitling are in the process of purchasing the two properties for about $215 million. "His experience and knowledge of traditional bookmaking skills make him a perfect fit for our new operation."

Currently vice president of race and sports operations with Club Cal Neva in Reno, Andrews said he was "excited about joining forces" with Poster and Breitling.

Andrews began his career at Cal Neva in 1981 as race and sports book manager. Since then, he expanded the business from a two-window book to 20 locations throughout Nevada. Andrews holds a bachelor’s degree in business management from Robert Morris University in Pittsburgh.

"Upon licensure and acquisition, when we assume ownership of the Golden Nugget, our race and sports operation will be a major hub for bettors across the state," Poster said.

Poster is currently chairman and CEO of Poster Financial Group in Las Vegas. With Breitling, Poster founded the revolutionary travel website, Travelscape.com in 1998, which they sold in 2000 to Expedia.com for about $95 million. Additional financing for the purchase is expected to come from Lehman Brothers.

Their purchase of the Golden Nugget properties, which is expected to be completed by the end of the year, is with the "hopes of reviving Las Vegas’ glory days" of individual casino ownership and personalized service, Poster said.