Don Peebles

Miami- based developer R. Donahue Peebles — the Peebles Corporation CEO and one of the wealthiest African-Americans, according to Forbes — has acquired a majority interest in the Mardi Gras Hotel & Casino in Las Vegas, his company announced today. Peebles, who also owns a 13-acre plot of land nearby on which he plans to develop the $2 billion Las Palmas Resort & Casino, said the new acquisition presents “tremendous potential” for the company’s “future development initiatives.” Peebles, whose company owns hotels, apartments and office space in South Florida, Las Vegas and Washington, D.C., most recently made headlines during a bruising legal battle in which he tried in vain to regain control of the 417-room Royal Palm Hotel in South Beach. TRD

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Florida-based developer Don Peebles — who, last year, had grand
visions for expanding into Manhattan — isn’t letting the recession
quash those goals. This summer, Peebles, who Forbes recently ranked on the top 10
list of wealthiest African-Americans and is worth $350 million, will open an
office in Midtown Manhattan. And, last week, he was part of a team that submitted a gaming and
entertainment bid for the Queens Aqueduct Racetrack redevelopment
project to be operated by MGM Mirage.
The proposal includes 4,500 video lottery terminals and multiple
fine-dining establishments. [more]

Real estate developer Don Peebles,
chief executive of Miami-based Peebles Corporation, has made Forbes’
first “Wealthiest Black Americans” list, in the company of Oprah
Winfrey and Tiger Woods. The list places Peebles’ worth at $350
million, and his company owns hotels, apartments and office space in
Miami Beach, Las Vegas and Washington, D.C.
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