Lyle Berman is a professional poker player who was born in Minnesota in 1941. Not only does he play poker professionally but he is also a business executive. He graduated from the University of Minnesota in 1964 with a business administration degree. He worked for his father in his leather business and became CEO and president of the company when it was sold in 1979 to W.R. Grace. When the company was sold on again, he became the CEO of the Rainforest Café chain.
Berman first cashed at the World Series of Poker in 1984 in the $1000 Limit Hold’em event where he finished in 9th position and picked up $5,400. He cashed again in 1985, 1986 and 1987 earning prize money of $217,550 before he picked up his first World Series of Poker gold bracelet in 1989. It was in the $1500 Limit Omaha event that he won this first bracelet and along with that bracelet, he netted $108,600.
He won another two WSOP gold bracelets during his career. The second bracelet came in 1992 in the $2500 No Limit Hold’em event and for this he picked up $192,000. His third bracelet came in 1994 and helped him to win another $128,250, this time in the $5000 No Limit Deuce to Seven Draw.
During his career so far he has cashed 18 times at the World Series of Poker and these cashes have seen him pick up prize money here of over one and a half million dollars. Total prize money for all tournaments so far totals over $2,600,000.
Not only has Berman had success at the poker table and in his business ventures, but he is also very involved in many gaming companies. He co-founded Grand Casinos Inc in 1990 and became CEO of the spinoff company, Lakes Entertainment Inc.
In 2002 Berman was inducted to the Poker Hall of Fame.