Clifford S. Perlman
Encyclopedia
Clifford "Cliff" S. Perlman (born March 30, 1926) is a Las Vegas, Nevada
entrepreneur and former President and CEO of the Caesars Palace
casino for over a decade. During his ownership he built thousands of additional rooms to what is the current Caesars Palace. Most notably, Perlman, first introduced live sports and boxing
to Las Vegas. With his brother Stuart, they founded the international fast food franchise
Lum's and bought, sold, and operated an airline.
Perlman now spends his time between his residences in Beverly Hills and Miami.
, Florida
, and subsequently joined the 86th Infantry Division, Perlman was shipped to the European Theater, 1944, and served through the end of the war. Perlman was awarded the Combat Infantryman Badge
, three Battle Stars and the Bronze Star.
Returning from the war, Perlman enrolled at the University of Miami
in 1947, and the University of Miami School of Law
, 1948. He was the founding member of the Bar and Gavel Legal Society and editor of the first law school newspaper, The Barrister. He was admitted to federal and state bars in 1951. He practiced law for nine years under the firm name Perlman, Litman and Sponder.
. Lum's was founded for $12,000. With Clifford commanding and Stuart executing, they had within a couple of years established a 389-unit franchise chain that spanned Canada, Puerto Rico, and 29 American states.
Perlman and his brother also owned Dirr's Gold Seal Meats, a business large enough to supply the Lum's chain with 25 percent of its packed meat products while keeping other eateries stocked as well. Their third subsidiary, Dade Wholesale Products, was their only concern outside the food industry. Dade owned an 86-unit string of Eagle Army-Navy Discount Stores, which grew to 111 stores under Perlman stewardship.
The three businesses combined to bring Lum's sales for 1969 totalling $23.2 million, yielding a net income of $2.8 million—too small a bankroll to meet the $60 million purchase price of Caesars Palace. Clifford Perlman then sold both Dade and Dirr's in 1970, raising $8.5 million and $5 million respectively — more than enough to supply the $2 million escrow that was part of the deal between their company and Jay Sarno
.
The Perlmans sold the company in 1971 to John Brown
of Kentucky Fried Chicken. At the time of sale, the company owned and franchised over 400 stores in the U.S., Hawaii, Puerto Rico, and Europe.
, a 500 room hotel casino on the famous Las Vegas Strip, for $60 million. They renamed the casino Caesar's World. This was the first publicly held company to enter the casino industry in Las Vegas. The transaction was approved by the Nevada Gaming Commission
in August 1969. The terms of agreement also stipulated that $30 million would be paid to Sarno during the first year, that the $28 million outstanding would be whittled down by a $9.5 million payment in 1971, and that the rest, at 5.5 percent interest, was to be paid in equal installments over the next three years.
In his 13 years as President and CEO of Caesars Palace, Perlman established his casino as Las Vegas's most prominent and himself as a gaming innovator. He oversaw the business's expansion from a hotel with 550 rooms and pre-tax revenues of $5.8 million to a conglomerate with 1,750 rooms and more than $82 million in pre-tax revenue. While in charge at Caesars Palace, it became known as one of the great entertainment and casino gaming hotels in the world. Caesars Palace was the first Las Vegas casino to implement an organized overseas marketing strategy, opening offices in Mexico City, Mexico, Caracas, Venezuela, and Hong Kong, as well as marketing efforts in Australia and Japan.
During Perlman's tenure the vastly popular entertainer Frank Sinatra
played at the casino for over 10 years, the longest continuous engagement of his career. In association with fight promoter Don King, Caesars Palace Las Vegas also hosted major boxing events from 1975 to 1982, including some of history's most famous. Perlman once instructed "If there is no room to host it the event set it up in the parking lot". Over 25,000 people attended boxing events in the parking lot at Caesars in 1979, an unheard of figure for those times. Caesars Palace Las Vegas Hotel & Casino also acquired a Formula One
Racing event, hosted by Paul Newman
, that was held in Las Vegas for five years and initiated the Alan King
Tennis
Classic.
Perlman also developed and built Caesar's Tahoe, a 700-room hotel casino on the south shore of Lake Tahoe
; Caesar's Palace Atlantic City, a 500-room hotel/100,000 San Francisco casino complex; and Cove Haven and Paradise Stream in the Poconos, a hotel complex specializing in honeymoon suites with heart-shaped pools, bath tubs, and beds. Under Perlman's ownership, Cove Haven's pre-tax profit increased from $1 million in 1972 to $32 million in 1982.
In 1972 Perlman also, through Caesar's World, purchased the Thunderbird
resort; he resold it to Major Riddle in 1977.
Perlman was appointed the first chairman of MGM Grand, Inc.
on the Las Vegas Strip
, and oversaw the project's financing and construction. He left the project in 1990 to attend to personal issues.
Perlman and his brother bought First Air and created The Regent Air Corporation in 1983. They had numerous issues, including difficulties obtaining a license from the Federal Aviation Authority for the airline to fly. The airline continued to suffer financially, and the Perlmans sold their shares a few years later.
Perlman also served as a trustee at Mt. Sinai Hospital in Miami Beach, and at the University of North Las Vegas.
In 2007 Perlman was inducted into the Gaming Hall of Fame.
Las Vegas, Nevada
Las Vegas is the most populous city in the U.S. state of Nevada and is also the county seat of Clark County, Nevada. Las Vegas is an internationally renowned major resort city for gambling, shopping, and fine dining. The city bills itself as The Entertainment Capital of the World, and is famous...
entrepreneur and former President and CEO of the Caesars Palace
Caesars Palace
Caesars Palace is a luxury hotel and casino located on the Las Vegas Strip in Paradise, Nevada, an unincorporated township in Clark County, Nevada, United States in the Las Vegas metropolitan area. Caesars Palace is owned and operated by Caesars Entertainment Corp....
casino for over a decade. During his ownership he built thousands of additional rooms to what is the current Caesars Palace. Most notably, Perlman, first introduced live sports and boxing
Boxing
Boxing, also called pugilism, is a combat sport in which two people fight each other using their fists. Boxing is supervised by a referee over a series of between one to three minute intervals called rounds...
to Las Vegas. With his brother Stuart, they founded the international fast food franchise
Franchising
Franchising is the practice of using another firm's successful business model. The word 'franchise' is of anglo-French derivation - from franc- meaning free, and is used both as a noun and as a verb....
Lum's and bought, sold, and operated an airline.
Perlman now spends his time between his residences in Beverly Hills and Miami.
Early years
Perlman was born March 30, 1926, in Philadelphia, where he attended primary and secondary school. In 1943, he joined the U.S. Army, stationed at Camp BlandingCamp Blanding
Camp Blanding Joint Training Center is the primary military reservation and training base for the Florida National Guard, both the Florida Army National Guard and certain non-flying activities of the Florida Air National Guard. The installation is located in Clay County, Florida near the city of...
, Florida
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
, and subsequently joined the 86th Infantry Division, Perlman was shipped to the European Theater, 1944, and served through the end of the war. Perlman was awarded the Combat Infantryman Badge
Combat Infantryman Badge
The Combat Infantryman Badge is the U.S. Army combat service recognition decoration awarded to soldiers—enlisted men and officers holding colonel rank or below, who personally fought in active ground combat while an assigned member of either an infantry or a Special Forces unit, of brigade size...
, three Battle Stars and the Bronze Star.
Returning from the war, Perlman enrolled at the University of Miami
University of Miami
The University of Miami is a private, non-sectarian university founded in 1925 with its main campus in Coral Gables, Florida, a medical campus in Miami city proper at Civic Center, and an oceanographic research facility on Virginia Key., the university currently enrolls 15,629 students in 12...
in 1947, and the University of Miami School of Law
University of Miami School of Law
The University of Miami School of Law, founded in 1926, is the law school of the University of Miami, located in Coral Gables, Florida, in the United States. The school graduated its first class of 13 students in 1929.- Academics :...
, 1948. He was the founding member of the Bar and Gavel Legal Society and editor of the first law school newspaper, The Barrister. He was admitted to federal and state bars in 1951. He practiced law for nine years under the firm name Perlman, Litman and Sponder.
LUMS
In 1956, Perlman and his brother Stuart founded the first store of fast food chain LUMS Inc. in Miami Beach, FloridaMiami Beach, Florida
Miami Beach is a coastal resort city in Miami-Dade County, Florida, United States, incorporated on March 26, 1915. The municipality is located on a barrier island between the Atlantic Ocean and Biscayne Bay, the latter which separates the Beach from Miami city proper...
. Lum's was founded for $12,000. With Clifford commanding and Stuart executing, they had within a couple of years established a 389-unit franchise chain that spanned Canada, Puerto Rico, and 29 American states.
Perlman and his brother also owned Dirr's Gold Seal Meats, a business large enough to supply the Lum's chain with 25 percent of its packed meat products while keeping other eateries stocked as well. Their third subsidiary, Dade Wholesale Products, was their only concern outside the food industry. Dade owned an 86-unit string of Eagle Army-Navy Discount Stores, which grew to 111 stores under Perlman stewardship.
The three businesses combined to bring Lum's sales for 1969 totalling $23.2 million, yielding a net income of $2.8 million—too small a bankroll to meet the $60 million purchase price of Caesars Palace. Clifford Perlman then sold both Dade and Dirr's in 1970, raising $8.5 million and $5 million respectively — more than enough to supply the $2 million escrow that was part of the deal between their company and Jay Sarno
Jay Sarno
Jay Sarno was a Las Vegas business entrepreneur who owned several high-profile hotels. He was the creator of both the Caesars Palace hotel and Circus Circus, and many credit him with being the father of today's more family-oriented Las Vegas...
.
The Perlmans sold the company in 1971 to John Brown
John Y. Brown, Jr.
This article is about one of four John Young Browns, from Kentucky, that have served political office. For others see: John Young Brown ...
of Kentucky Fried Chicken. At the time of sale, the company owned and franchised over 400 stores in the U.S., Hawaii, Puerto Rico, and Europe.
Cliff Perlman and the Gaming Industry
In 1969, under the ownership of Perlman and his brother, Lum's, Inc. purchased Caesars PalaceCaesars Palace
Caesars Palace is a luxury hotel and casino located on the Las Vegas Strip in Paradise, Nevada, an unincorporated township in Clark County, Nevada, United States in the Las Vegas metropolitan area. Caesars Palace is owned and operated by Caesars Entertainment Corp....
, a 500 room hotel casino on the famous Las Vegas Strip, for $60 million. They renamed the casino Caesar's World. This was the first publicly held company to enter the casino industry in Las Vegas. The transaction was approved by the Nevada Gaming Commission
Nevada Gaming Commission
The Nevada Gaming Commission is a Nevada state governmental agency involved in the regulation of casinos throughout the state, along with the Nevada Gaming Control Board. It was founded in 1959 by the Nevada Legislature....
in August 1969. The terms of agreement also stipulated that $30 million would be paid to Sarno during the first year, that the $28 million outstanding would be whittled down by a $9.5 million payment in 1971, and that the rest, at 5.5 percent interest, was to be paid in equal installments over the next three years.
In his 13 years as President and CEO of Caesars Palace, Perlman established his casino as Las Vegas's most prominent and himself as a gaming innovator. He oversaw the business's expansion from a hotel with 550 rooms and pre-tax revenues of $5.8 million to a conglomerate with 1,750 rooms and more than $82 million in pre-tax revenue. While in charge at Caesars Palace, it became known as one of the great entertainment and casino gaming hotels in the world. Caesars Palace was the first Las Vegas casino to implement an organized overseas marketing strategy, opening offices in Mexico City, Mexico, Caracas, Venezuela, and Hong Kong, as well as marketing efforts in Australia and Japan.
During Perlman's tenure the vastly popular entertainer Frank Sinatra
Frank Sinatra
Francis Albert "Frank" Sinatra was an American singer and actor.Beginning his musical career in the swing era with Harry James and Tommy Dorsey, Sinatra became an unprecedentedly successful solo artist in the early to mid-1940s, after being signed to Columbia Records in 1943. Being the idol of the...
played at the casino for over 10 years, the longest continuous engagement of his career. In association with fight promoter Don King, Caesars Palace Las Vegas also hosted major boxing events from 1975 to 1982, including some of history's most famous. Perlman once instructed "If there is no room to host it the event set it up in the parking lot". Over 25,000 people attended boxing events in the parking lot at Caesars in 1979, an unheard of figure for those times. Caesars Palace Las Vegas Hotel & Casino also acquired a Formula One
Formula One
Formula One, also known as Formula 1 or F1 and referred to officially as the FIA Formula One World Championship, is the highest class of single seater auto racing sanctioned by the Fédération Internationale de l'Automobile . The "formula" designation in the name refers to a set of rules with which...
Racing event, hosted by Paul Newman
Paul Newman
Paul Leonard Newman was an American actor, film director, entrepreneur, humanitarian, professional racing driver and auto racing enthusiast...
, that was held in Las Vegas for five years and initiated the Alan King
Alan King (comedian)
Alan King was an American actor and comedian known for his biting wit and often angry humorous rants. King became well known as a Jewish comedian and satirist. He was also a serious actor who appeared in a number of movies and television shows. King wrote several books, produced films, and...
Tennis
Tennis
Tennis is a sport usually played between two players or between two teams of two players each . Each player uses a racket that is strung to strike a hollow rubber ball covered with felt over a net into the opponent's court. Tennis is an Olympic sport and is played at all levels of society at all...
Classic.
Perlman also developed and built Caesar's Tahoe, a 700-room hotel casino on the south shore of Lake Tahoe
Lake Tahoe
Lake Tahoe is a large freshwater lake in the Sierra Nevada of the United States. At a surface elevation of , it is located along the border between California and Nevada, west of Carson City. Lake Tahoe is the largest alpine lake in North America. Its depth is , making it the USA's second-deepest...
; Caesar's Palace Atlantic City, a 500-room hotel/100,000 San Francisco casino complex; and Cove Haven and Paradise Stream in the Poconos, a hotel complex specializing in honeymoon suites with heart-shaped pools, bath tubs, and beds. Under Perlman's ownership, Cove Haven's pre-tax profit increased from $1 million in 1972 to $32 million in 1982.
In 1972 Perlman also, through Caesar's World, purchased the Thunderbird
Thunderbird (resort)
The Thunderbird Hotel was a Paradise, Nevada, hotel and casino that operated from September 2, 1948 to July 6, 1992, and was the fourth resort to open on the Las Vegas Strip. The hotel was founded by developer Marion Hicks and attorney/Lieutenant Governor of Nevada Clifford A. Jones...
resort; he resold it to Major Riddle in 1977.
Perlman was appointed the first chairman of MGM Grand, Inc.
MGM Grand Las Vegas
The MGM Grand Las Vegas is a hotel casino located on the Las Vegas Strip in Paradise, Nevada. The MGM Grand is the third largest hotel in the world and largest hotel resort complex in the United States in front of The Venetian. The MGM Grand was the largest hotel in the world when it opened in...
on the Las Vegas Strip
Las Vegas Strip
The Las Vegas Strip is an approximately stretch of Las Vegas Boulevard in Clark County, Nevada; adjacent to, but outside the city limits of Las Vegas proper. The Strip lies within the unincorporated townships of Paradise and Winchester...
, and oversaw the project's financing and construction. He left the project in 1990 to attend to personal issues.
Perlman and his brother bought First Air and created The Regent Air Corporation in 1983. They had numerous issues, including difficulties obtaining a license from the Federal Aviation Authority for the airline to fly. The airline continued to suffer financially, and the Perlmans sold their shares a few years later.
Perlman also served as a trustee at Mt. Sinai Hospital in Miami Beach, and at the University of North Las Vegas.
In 2007 Perlman was inducted into the Gaming Hall of Fame.