Mr. Richard Worthington has served as president & chief operating officer for Paradise Development Company and The Molasky Group of Companies since 1998. Worthington is responsible for providing leadership and management to the overall operations of this highly diversified and prolific family-owned real estate firm that has been at the forefront of southern Nevada's growth for nearly sixty years.
During his tenure as president of the company, Molasky has initiated or completed construction on nearly $1.0 billion in projects including: 2,700 apartments, 1.5M SF of retail, 500,000 SF of office, the 84 unit-$145M Park Towers luxury condominium project, the 285,000 SF, 17-story Molasky Corporate Center - Nevada's largest LEED Gold certified office building, $40M in aviation facilities, the State of Nevada's first 400 bed re-entry facility for the Nevada Dept of Corrections, as well as the recent completion of a 1,078 bed detention center which the company leases to Clark County. Worthington oversees a diversified portfolio of real property and various joint ventures with strategic partners. He has worked with the Molasky family for more than seventeen years on various projects, including serving for six years as senior vice president, and later, president of Ritter Ranch Co, an affiliated company to Paradise Development and the developer of an 11,500 acre, 7,200 unit master-planned community located in North Los Angeles County.
Prior to relocating to Las Vegas, Worthington owned an independent real estate consulting firm based in Los Angeles. Some of his former notable clients included Robert E. Peterson/Peterson Publishing; Bankers Trust Co.; CalPERS; Merv Adelson; Deutsche Bank; East West Capital Associates; Steve Wynn; and Si Redd founder of IGT and owner of Mesquite Vistas, LLC, to name a few. Worthington also was retained as a consultant for several years with Deutsche Bank as a real estate workout specialist who completed various construction, financial restructuring, sale and litigation assignments on behalf of the bank in southern California, Shanghai China, Washington D.C., Florida, Maryland and Virginia.
Prior to his association with the Molasky family, Worthington was a senior real estate advisor with the international accounting and consulting firm of KPMG Peat Marwick in Los Angeles.
Worthington holds a Bachelor of Science degree in real estate development and international finance from the University of Southern California and has completed post- graduate courses related to real estate law, economics, appraisal and real estate company operations at the University of California Los Angeles and Harvard University School of Design. Rich has actively participated in a number of industry organizations including BIA, ULI, CCIM, BOMA, ICSC as well as numerous civic and governmental advisory boards relating to real estate and economic development issues. Rich is a past member of the Las Vegas chapter of Young Presidents Organization ("YPO") and past advisor to UNLV Lied Center for Real Estate Studies. Rich currently serves as an advisor to the El Cortez Hotel and Casino; the Executive Committee as well as the Board of Trustees for the Las Vegas Chamber of Commerce; Chairman and President of the Downtown Las Vegas Alliance; Board member of the Las Vegas Chapter of JDRF; member of the Board of Trustees for the UNLV Foundation as well as president of the Park Towers Homeowners' Association.
