Mark Scheinberg

Last updated

Mark Scheinberg
Born1973 (age 50–51)
Israel
Nationality Israeli-Canadian
OccupationInvestor

Entrepreneur

Philanthropist
Parent Isai Scheinberg

(Igal) Mark Scheinberg (born 1973) [1] is an Israeli-Canadian businessman and investor within various sectors including real estate and luxury hospitality. He is the co-founder and former co-owner of the online gambling company PokerStars, which was sold in 2014 to Amaya Gaming for $4.9 billion. [2]

Contents

Life

Mark Scheinberg was born in Israel in 1973, moving to Toronto, Ontario, Canada at the age of 13 with his family. [3] They settled in the town of Richmond Hill in the 1980s. [4]

Career

In 2001 Scheinberg founded PokerStars with his father Isai Scheinberg, a computer programmer. [3] [5] During his tenure as CEO, PokerStars became the world’s largest online poker business and host to the world’s largest online tournament series, [6] acquiring the Full Tilt Poker brand in 2012. [7] In August 2014, [8] Oldford Group Ltd, [9] the PokerStars parent company, was acquired by the Canadian publicly listed company Amaya Gaming Group for $4.9 billion. Upon completion of the sale, Scheinberg exited the PokerStars group. [2] As of May 2017, Scheinberg was the richest person on the Isle of Man. [10]

Scheinberg started Mohari Hospitality as an investment firm focused on the luxury and hospitality sectors. The firm has investments in the Peninsula Resort in Papagayo, Costa Rica, the Ritz-Carlton Yacht Collection, the Waldorf Astoria Miami, and the Four Seasons Private Residences in Washington, DC. [11] Mohari has hired former Chief Executive Officer of Four Seasons Hotels & Resorts, J. Allen Smith as Managing Partner. [11]

Via Mohari Hospitality, [12] in early 2017 Scheinberg became a major investor in Centro Canalejas Madrid, a real estate project in Madrid, Spain. [5] Mohari purchased a 50% stake in the Centro for €225 million from the Grupo OHL subsidiary OHL Desarrollos and the industrial group Villa Mir, who both also retained stakes. [13] With an opening date set for 2019, [12] the project involves the restoration of seven historic [3] adjacent buildings [5] for residential, hotel and commercial use. With a large amount of retail space, the complex will also house the first Four Seasons hotel in Spain, [12] and create 4,800 positions. [14]

In September 2017, a Canadian subsidiary of Mohari Hospitality acquired the Thompson Toronto hotel in downtown Toronto, Ontario. [15] The "boutique" hotel [16] has 105 rooms, event space, and restaurants and lounges. [17]

In April 2023, Mohari Hospitality acquired a 66.9% stake in Noah Tepperberg's Tao Group from Madison Square Garden Entertainment for $550 million. Mohari was expected to integrate Tao's brands into its existing properties. [18] [19]

According to Forbes, his net worth is estimated at $5.6 billion as of 2024. [20]

Personal life

Scheinberg is single and lives in the Isle of Man. In March 2020 he and his family founded The Scheinberg Relief Fund, to help tackle the direct impact of COVID-19. With an allocation of $50 million, it supports organisations and initiatives in locations where the family has a business or personal presence. [21]

Scheinberg has a keen interest in conservation and animal welfare. In September 2020, it was announced that The Scheinberg Relief Fund would match every donation to the Wildlife Ranger Challenge, a conservation fundraiser that works with charities like the Save the Rhino Trust. [22]

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References

  1. ↑ "Igal Mark SCHEINBERG - Personal Appointments (free information from Companies House)". beta.companieshouse.gov.uk.
  2. 1 2 Palmeri, Christopher (13 June 2014). "PokerStars' Scheinberg Becomes Billionaire on Sale to Amaya". Bloomberg. Retrieved 18 January 2015.
  3. 1 2 3 "Mark Scheinberg". Forbes. Retrieved 7 March 2017.
  4. ↑ Freeze, Colin (22 April 2011). "A look at the mysterious Canadian founder of PokerStars". The Globe and Mail . Retrieved 18 January 2015.
  5. 1 2 3 "PokerStars Founder Mark Scheinberg Invests in Spain's Real Estate Market". Casino News Daily. 17 May 2017. Retrieved 24 May 2017.
  6. ↑ "PokerStars: Online Gambling's Quiet Giant", Forbes, Nathan Vardi, 10 February 2010
  7. ↑ "PokerStars Strikes U.S. Deal to Buy Full Tilt Poker", Bloomberg , Caroline Winter, 31 July 2012
  8. ↑ "Amaya Completes Acquisition of Pokerstars and Full Tilt Poker", 1 August 2014, press release
  9. ↑ "How A $4.9 Billion Purchase Of PokerStars Could Change Online Poker In America", Forbes , Darren Heitner, 19 June 2014
  10. ↑ "Scheinberg now richest on the island". IOM Today. 5 May 2017. Retrieved 24 May 2017.
  11. 1 2 Kirchfeld, Aaron (17 April 2023). "Billionaire PokerStars Founder Nears Deal for Hakkasan Owner - BNN Bloomberg". BNN. Retrieved 27 May 2024.
  12. 1 2 3 "PokerStars Founder Mark Scheinberg’s Madrid Hotel Complex to Open Doors in 2019", Casino News Daily, 7 November 2017
  13. ↑ OHL Desarrollows and GVM Sell a 50 Percent Stake in Centro Canalejas Madrid to the Businessman Mark Scheinberg, OHL, 9 February 2017
  14. ↑ Centro Canalejas Madrid Will Open Its Doors at the Beginning of 2019 Archived 23 June 2018 at the Wayback Machine , Iberian Property, 10 November 2017
  15. ↑ "Mohari Canada Inc. purchases Thompson Hotel", Lexpert Magazine, 25 August 2017
  16. ↑ "Thompson Hotels", Thompson Toronto
  17. ↑ "Thompson Toronto Sale Arranged by JLL" Archived 23 June 2018 at the Wayback Machine , Hotel Business, 13 September 2017
  18. ↑ Donnelly, Matt (18 April 2023). "Tao Group, Creator of Nightlife and Dining for Glitterati, Sells to Mohari for $550 Million". Variety. Retrieved 27 July 2024.
  19. ↑ "MSG sells Tao Group Hospitality to New York investor for $550M". Las Vegas Review-Journal. 18 April 2023. Retrieved 27 July 2024.
  20. ↑ "Mark Scheinberg". Forbes. Retrieved 29 May 2024.
  21. ↑ "About us". My Great Blog. Retrieved 25 August 2020.
  22. ↑ "Top-fit rhino rangers to run in challenge to raise funds for wildlife protection | Namibia Economist" . Retrieved 21 September 2020.
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