Consumer >> CEO Interviews >> April 9, 2001

Richard Levenstein – Playstar Corporation (playf)

RICHARD LEVENSTEIN was named Vice President of ReadyFoods brokerage Ltd. in 1991. Seeing the company's sales soar to over $50 million a year, the family operated business decided to sell the company at its peak. Using his talents in sales and marketing, Mr. Levenstein founded RSL Food Brokers, becoming a front-runner in this industry in Canada. With RSL thriving over the next few years, he began to explore and research the Internet in an attempt to expand his business globally. He quickly found a new passionate aspiration and begun focusing his research in the Online Gaming field. In 1996, PlayStar Corp. was founded and a CEO was required. Mr. Levenstein was found to not have the technical expertise required according to the major shareholders, and in turn he decided to become an investor himself and continued the pursuit of his passion with the Online Gaming industry. He sold RSL Food Brokers in 1999, and devoted his efforts to a Gaming business plan. In the interim, PlayStar realized that a Gaming Expert was indeed what was required to achieve their goals, and requested that he step up to the plate. As the company was leaning towards the credit card processing industry, Mr. Levenstein respectfully declined, as he was solely interested in the Online Gaming industry. With a completed business plan, he opened Cyber Island Consulting Ltd. In spring of 2000, PlayStar realized its mistakes and approached Cyber Island Consulting, redirecting its focus back to Online Gaming, taking on the business plan that Mr. Levenstein had developed back in 1997. Mr. Levenstein begun the process of rebuilding PlayStar from scratch, and in late December 2000, PlayStar launched its new Shockwave casino ahead of schedule and under budget. In the first 60 days, PlayStar casino has taken over $10 million in wagering and continues to grow. Profile
TWST: Could we start out with a little quick history and an overview of


Mr. Levenstein: PlayStar was established in 1996 as an online gaming

developer. The company was the second one