Visionary banker, Las Vegas "Kingmaker" dies

Thomas, 95, died Friday, August 26, at his horse ranch in Hailey, Idaho.

Thomas joined the Bank of Las Vegas in 1954 and made his first loan to a casino – the Sahara – the following year. Back then banks shied away from lending money to casinos. Gambling was considered a risky business and there were also those organized crime elements to consider. But Thomas paved a new path and never looked back.

By 1961 Thomas was president of Bank of Las Vegas, which merged with Valley Bank of Reno in 1968, becoming Valley Bank of Nevada. It was acquired by Bank of America in 1992.

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Throughout the 1960s and 1970s Thomas continued to loan money to casinos for building and expansion and also facilitated the Teamsters Central States Pension fund in loaning money to casinos

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In addition he lobbied for the passage of the Corporate Gaming Acts of 1967 and 1969, which allowed publicly traded companies to own and manage casinos. This helped gaming gain acceptance as a legitimate business.

Thomas also invested in real estate and acted as the buyer for the reclusive Howard Hughes on several occasions. He was also instrumental in putting together a 400-acre tract of land and donating it to the University of Nevada, Las Vegas for expansion of its campus and funded the construction of the school’s basketball stadium, named Thomas & Mack Center in his honor along with Jerry Mack his business partner.

Thomas is survived by his wife, Peggy C. Thomas, sons Peter M. Thomas, Roger P. Thomas, Dr. Steven C. Thomas and Thomas A. Thomas, his sister, Jane Sturdivant, 13 grandchildren and 9 great-grandchildren.