E. Parry Thomas

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E. Parry Thomas
Born (1921-06-09) June 9, 1921 (age 93)
Ogden, Utah, United States
Residence Hailey, Idaho
Occupation Banker
Religion Mormon
Spouse(s) Peggy Thomas
Children 5, including Roger Thomas
Peter M. Thomas
Tom Thomas
Jane Thomas

E. Parry Thomas (born June 29, 1921) is an American former banker who helped finance the development of the casino industry of Las Vegas, Nevada. Along with his business partner, Jerome D. Mack, he is credited with building Las Vegas into what it is today.[1]

Biography[edit]

Early life[edit]

Thomas was born on June 29, 1921 in Ogden, Utah.[2] He was raised in The Church of Jesus Christ of Latter-day Saints, also known as the Mormon Church.[2] His father was a plumbing contractor who later became a banker.[2] During World War II, he served in the United States Army as an intelligent operative.[2][3]

Banking career[edit]

He started his career at the Continental Bank & Trust Co. of Salt Lake City.[2] It was owned by Walter Cosgriff, who also owned a stake in the Bank of Las Vegas, whose Chairman was Nate Mack.[2] The Bank of Las Vegas was the first bank to lend money to casinos in Las Vegas.[4] Its first loan was to Milton Prell, who used it to build the Sahara casino.[3][4]

Later, Jerome D. Mack replaced his father as Chairman.[5] Meanwhile, in 1961, shortly after Cosgriff's death, Thomas became its President.[2][3] He facilitated loans from the Teamsters Central States Pension Fund to Las Vegas casinos.[3] In 1968 the bank merged with Valley Bank of Reno and changed its name to the Valley Bank of Nevada.[2] Thomas and Mack also invested in real estate in the Las Vegas area, with Thomas acting as a buyer for Howard Hughes.[2] Later, they also lent money to Steve Wynn.[6] The bank was eventually acquired by Bank of America for about US$380.5 million in 1992.[3][4]

Politics[edit]

Thomas is a Republican.[7] With Jerry Mack, Thomas lobbied state legislator Bill Harrah as well as former Governors Grant Sawyer and Paul Laxalt to pass two acts legalizing the corporate ownership of casinos.[7] They were known as the Corporate Gaming Acts in 1967 and 1969.[3] According to Mack's daughter Karen, this put an end to corruption in Las Vegas, as it enforced more regulations and disclosures for the U.S. Securities and Exchange Commission.[7]

Philanthropy[edit]

Thomas & Mack Center.

With Jerry Mack, he donated 400 additional acres of land to expand the campus of the University of Nevada, Las Vegas (UNLV).[3] The two men also funded the construction of the basketball stadium at UNLV, which was named the Thomas & Mack Center in their honor.[3] Later, the Thomas & Mack Legal Clinic at the William S. Boyd School of Law as well as the Thomas & Mack Moot Court Building were also named after them.[8] Thomas received an honorary Doctorate from UNLV in 1982.[9]

Personal life[edit]

Thomas is married to Peggy.[10] They have four sons and one daughter.[10] They summer at their dressage farm called River Grove Farm in Hailey, near Sun Valley, Idaho, and winter in Las Vegas and Del Mar, California.[10] He and his wife sponsor dressage; both his wife and daughter Jane ride.[10][11] Dressage trainer and competitor Debbie McDonald taught his daughter.[10] He and his wife own Brentina, a prize-winning dressage horse.[12] They also sponsor Adrienne Lyle, a dressage competitor.[13] His two sons, Peter and Tom, manage Thomas & Mack, the family real estate development firm in Las Vegas.[14][15] Another son, Roger Thomas is an interior designer; he has designed many casinos for Steve Wynn, both in the United States and in China.

References[edit]

  1. ^ Nielson, Christopher. "Banking on Success". Las Vegas Review Journal. Retrieved 14 June 2012. 
  2. ^ a b c d e f g h i John G. Edwards, E. Parry Thomas, Las Vegas Review-Journal, February 7, 1999
  3. ^ a b c d e f g h University of Nevada, Las Vegas: Jerome D. Mack
  4. ^ a b c Chris Sieroty, Bank takes famous name, poises for future, Las Vegas Review-Journal, April 29, 2012
  5. ^ David Schwartz, Suburban Xanadu: The Casino Resort on the Las Vegas Strip and Beyond, Routledge, 2013, p. 110 [1]
  6. ^ A.D. Hopkinlas, Steve Wynn, Las Vegas Review-Journal, September 12, 1999
  7. ^ a b c Karen Mack, The Big Secret, The Los Angeles Times, April 5, 2009
  8. ^ UNLV Foundation: A Conversation with Joyce Mack, May 13, 2013
  9. ^ Eugene P. Moehring, The University of Nevada, Las Vegas: A History, Las Vegas, Nevada: University of Nevada Press, 2007, [2]
  10. ^ a b c d e Steve Friess, Unbridled Enthusiasm: The Sun Valley Sin City Connection, Sun Valley Magazine, Winter 2011
  11. ^ Parry Thomas Birthday, Las Vegas Magazine
  12. ^ Latest Novel From Best Selling Author, Dressage Rider Tami Roag Goes On Sale, Dressage News, December 21, 2009
  13. ^ Adrienne Lyle: Sponsors
  14. ^ Thomas & Mack: About
  15. ^ BYU Management: Tom Thomas