Not surprisingly, running a $3 billion casino company is anything but a game of chance for Frank Fertitta III and his brother Lorenzo. Still in their 40s and 30s respectively, the two are the chief officers and principal shareholders of Station Casinos, of which Green Valley Ranch is a part. American Casino follows the Fertittas and their 'team members' as they handle the volatile demands of their round-the-clock business — everything from the creation of extravagant banquets to the breaking up of fist-fights to the pampering of high rollers.
It's not an easy feat: As its name implies, Green Valley Ranch is more than just a casino. Its many amenities include a luxury hotel, a spa, multiple restaurants and bars, promotional events such as slot tournaments, and a wide variety of guest services, all of which require the coordinated efforts of a dedicated and passionate behind-the-scenes staff. The result? Story lines as diverse and entertaining as the family-run Green Valley Ranch itself.
So are we getting out of this economic mess?
American Casino was an American reality television series which tracks the daily events of the managers and employees of the Green Valley Ranch Casino resort in Henderson, Nevada, a suburb of Las Vegas. The show began airing on the Discovery Channel on June 4, 2004, but was moved to the Travel Channel in June 2005.
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'With difficulty,' film producer Andrew Cockburn said.
'I think right now it's kind of perceptive because you have this notion, 'great, it's over,' director Leslie Cockburn said by phone. 'But there are some really important areas where it's still unwinding - for example, commercial real estate, which is in real dire straits. These things have to unwind before this recession is really over.'
The Cockburns believe the lessons from last year's Wall Street meltdown need to be learned.
So they've made a film, 'American Casino,' which shows how the financial meltdown happened, and especially how it has affected a segment of the population that is largely made up of poor minorities.
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The movie focuses on a financial reporter, Wall Street players, and three formerly upstanding members of a Baltimore community who have become either homeless or bankrupt because they've fallen victim to predatory loan practices.
Banks, mortgage and financial firms gambled with money they didn't have, inducing Americans who had always dreamed of owning a home, but did not have the means, to do so. Subprime mortgages were an invention of Wall Street, in need of investing capital. They pushed for deregulation earlier in the decade and targeted minorities and the poor with dream-come-true interest rates and monthly payments, only to see those dreams shatter when the fine print kicked in and the monthly payments skyrocketed.
Minorities were 3.8 times more likely to be approved for a subprime loan, and the fact that many of them defaulted on their mortgages was to be expected. But by then, many in the financial sector had made a killing off their repackaged loans.
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'So far, some of the key points for regulation haven't been fixed,' Leslie Cockburn said. 'And it's kind of disturbing that you have a lot of people in the (Obama) administration that some years ago were part of the problem. You'd have to hope that Larry Summers, who was very much against regulation in 1998, has changed his tune, and he really believes in making corrections.'
Leslie Cockburn grew up in the Bay Area and was a producer for CBS News, ABC News and the George Clooney-Nicole Kidman thriller 'The Peacemaker.' Andrew, her British-born husband, is also a veteran producer; together they've made several documentaries for PBS' 'Frontline.'
They said they made 'American Casino' because the financial meltdown is such a complicated issue it can't be covered in news segments.
'The most gratifying thing is people have said, 'We understand it now,' ' Leslie Cockburn said. 'Even though we've had this blizzard of news stories on this, a lot of the pieces are short and you really need 89 minutes to understand what happened to us.'
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Starts Fri. Roxie Theater, 3117 16th St., S.F. (415) 863-1087. www.roxie.com.