Sad News: Imperial Palace casino owner and Las Vegas Motor Speedway co-developer Ralph Engelstad, 72, died of cancer Tuesday night at his Las Vegas home. A successful businessman and a philanthropist, Engelstad was one of the nation’s few remaining independent casino owners. Engelstad also was one the central figures behind the creation of Las Vegas Motor Speedway. He and Bill Bennett of the Sahara Hotel provided the financing for and were the original owners of the speedway, before selling the $200-million plus facility to NASCAR track magnate O. Bruton Smith in December 1998. “Without his vision for what motorsports could bring to Las Vegas, the Speedway obviously wouldn’t be here today,” said LVMS General Manager Chris Powell. “He and Bill Bennett took at least some type of a risk in building a speedway without a guarantee of there ever being a NASCAR Winston Cup date. But it worked out very well. The employees of the speedway and certainly the fans that enjoy the racing at the speedway owe him a debt of gratitude.” Gov. Kenny Guinn today added: “Ralph Engelstad was one of the real entrepreneurial pioneers of the Las Vegas strip. He was also one of the colorful characters that makes up Nevada’s industry personality. He left his mark on our state’s largest industry. He will be missed.”(more at the Las Vegas Sun)(11-27-2002)
