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Quiet Kingmaker of Las Vegas: E. Parry Thomas

par Jack Sheehan

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From his arrival in 1954, E Parry Thomas believed in Las Vegas. Taking charge of a tiny bank, Thomas built the institution by doing something his competitors would not: he loaned money to casino operators. This book focuses on how Parry Thomas helped build modern Las Vegas. It describes the deals he made to build and expand Strip hotels.… (plus d'informations)
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I might have heard Parry Thomas's name in one of the many times I've been in Las Vegas, but I can't be sure of that. So when I picked up "The Quiet Kingmaker" - I was a blank slate - no preconceived notions, no idea what kind of story author Jack Sheehan had to tell. I was hoping for some behind the scenes scoops on the making of this fascinating town...and I got 'em.

This book is the book that people who watch the Las Vegas channel, I mean, The Travel Channel, need to read. There are amazing stories in here of very famous names and many not so famous names, coming together to create this unlikely city in the desert; and behind an incredible number of those deals, was banker and investor Parry Thomas.

Thomas started coming to Las Vegas in 1952, and moved there with his family soon after. He was an incredibly hard working visionary who saw the potential of Las Vegas in ways that few others did. With hard work, a brilliant mind and a wonderful way with people, he made changes in Las Vegas (and Nevada) that helped make the city what it is today.

He is very clear that the only reasons he's telling these stories now are because most of the people involved are dead, and for the city's historical record. Thomas mentions several times that he prized confidentiality for his clients above all else, and one can still sense reticence behind his words. We're getting more of the story than has ever been told, but probably not all of it. Which is fine...some secrets need to stay in those dark, smoke filled back rooms. No one wants all of Vegas in the light...

Thomas, from all the accounts given by the names in this book such as Steve and Elaine Wynn, Bill Boyd and Michael Milken (to name only a few), was a wonderful, trusting and honest man. He cared deeply about doing the right thing by all parties of a deal, and his handshake meant more than a signed contract. And yet - there are unspoken stories in this book that remind the reader that we are talking about doing business in Las Vegas...which means something different than doing business anywhere else.

Thomas tells this story about a restaurateur to whom he refused a loan: "...the guy eventually got so mad he took out newspaper ads criticizing me and he passed out flyers all through my neighborhood and downtown criticizing me and saying that I was a bad banker and a bad person. I had to figure out a way to shut him up, and so I called this little guy who worked at the Sands. His name was Aaron Weisberg. He was a wonderful fellow. I knew that Aaron had a lot of clout with some important tough guys, so I asked Aaron if he could do anything about this guy who was threatening me. All the hassling just stopped cold the next day."

Thomas also had quite a few dealings with Howard Hughes, which make for fascinating reading. "...In sum, that's exactly how the richest man in America was allowed to stay in a hotel owned by the biggest gamblers in America, by the most outstanding lawyer in Washington agreeing to write a brief for the most notorious labor leader in the country. Now there's a four-way parlay for you."

The author, Sheehan, uses a very deft touch bringing Thomas's voice to the forefront of all of the stories. He then brings in many, many of the other players in the deals to corroborate or further clarify details. The timeline of the stories flow well, taking the reader from the early fifties in Vegas to modern day. (Although Parry Thomas now lives in Hailey, Idaho, "just one state removed from Nevada, (but) if a person were to measure the distance by electrical wattage and human energy, this farming community of 6,000 full time residents is more than a million miles away from the blinding glow of Las Vegas at night.")

Parry Thomas seems to be a humble man, not looking for the spotlight even given his success and the influence he's had over one of the major cities in America. (Which is probably why I, and hundreds of thousands of the visitors to Vegas have never heard his name.) But there is one accomplishment of his in this book that bears the distinct stamp of pride, and it might be the biggest part of what Vegas is today. "I'm the guy that got the Mob out of Las Vegas, with getting the legislation passed to have corporate gaming and putting in the safeguards such as anybody with over five percent interest in the place having to stand for licensing. It didn't say you had to be licensed, just that you had to stand for it and be investigated for it and so on. And the thing that got the Mob out quicker than anything else was that passing that law, because before that the corporations couldn't come in. If I'm insistent about taking the credit for that, it's because I did it all by myself and it took years of hard work and negotiating with the Legislature to make it happen."

This is a great book, one that tells previously unknown stories, one that explains the behind the scenes details of the making of Las Vegas, but stays true to the Vegas we all imagine it was. It has the best of what is Vegas: the money, the names, the danger and the excitement.

"One thing I'd learned about guys like Moe is that you never lie or evade anything. I said, "Moe, you're absolutely right. I did figure it out for your best interests. I'm going to have Howard Hughes buy this hotel. You're trying to sell it and I'm going to get you a fair price." Moe sat there for several long minutes without saying a word. He then stood up and turned around and pointed his finger in my chest and said, "You better!" And he stormed off."

That's power. That's the story of a quiet kingmaker. ( )
  karieh | Jun 16, 2009 |
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From his arrival in 1954, E Parry Thomas believed in Las Vegas. Taking charge of a tiny bank, Thomas built the institution by doing something his competitors would not: he loaned money to casino operators. This book focuses on how Parry Thomas helped build modern Las Vegas. It describes the deals he made to build and expand Strip hotels.

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