Frank Sisson was 14 when he started as a pro bowler, and he co-owned an alley before he was 30. But that was just a warm-up in his bid to build a Calgary icon: Frank Sisson's Silver Dollar Casino. It's now a sprawling, 120,000-square-foot entertainment space with 504 slot machines, 20 gaming tables, 38 bowling lanes and a 1,200-seat venue for shows. He's booked the likes of Garth Brooks on his stage, introduced miniature horses to the Calgary Stampede and even took a bullet in the leg from would-be robbers. Earlier this year, the 69-year-old sold the business for $22 million to Evergreen Gaming Corp., though Sisson is sticking around for a couple of years to ensure a smooth transition.
Why cash out now? I've always had lots of offers, but finally the time was right. Evergreen had just approached me when my wife said, "I want to go to the beach." So I said, "Well, go to the beach." She said, "No, I want you to come with me." I love the business, but sooner or later you have to stop.
What are your plans for the money? First off, I've got to pay the capital gains taxes and the remainder of the mortgage. Then we're going to look at some vacation properties, one in Mexico and one in Victoria.
What made your lanes and tables stand out from the competition? Everybody has to be a little different. We were the first ones in Alberta to put liquor into a bowling centre; we were the first ones to put liquor into the casinos. You have to keep your ears and your eyes open. You also need the conviction that you're right. Of course, there are lots of times the damn bankers won't agree with you. We've been really lucky, but you've got to work hard to be lucky.
What business lessons can you draw from bowling? If you're going to be good at something, you need to practise. I remember bowling in a competition in the States. It was the worst game I ever bowled in my life-I couldn't do anything right. Next game I started with eight strikes in a row.
You were shot by robbers a decade ago. Do you think about it still? It's just one of those things that happened. Three guys stalked me for a month. They wanted the money, and I just wasn't in the mood to give it to them.
You gambled when you brought miniature horses to the Calgary Stampede. Why? I shot my mouth off. I said to the GM of the Stampede, Don Jacques, "Here's the deal: I'll get you 100 miniature horses and we'll do a show." I promised him that whatever venue he put them in, they'd pack the place. So, Don and I walk into the agriculture pavilion at 12 o'clock and it starts at 12:30. The pavilion holds 1,800 people and there are eight people there. I'll never forget, Don said to me, "I think you overestimated." You know what, though? By 12:30, the place was packed. It was a risk, but it paid off big.
How does gambling relate to business? I'd rather gamble and lose than think, "What if?" I don't want any "what ifs." You can always recoup. The ones who lose out are the ones who give up.
David Ebner