Rene Medina Net Worth (2026 Estimate), Assets & Income

As of July 2026, Rene Medina's estimated net worth falls in the range of $15 million to $35 million, with a central working estimate of roughly $20 to $25 million. That range is wide by design: public financial records are limited, and the most concrete figures we have come from California Gambling Control Commission proceedings and federal court filings rather than personal financial disclosures. What the record does confirm is that Medina built and sold a cardroom generating nearly $48 million in annual revenue, received a $48 million promissory note in return, and has been collecting structured quarterly payments ever since through an irrevocable blind trust.

Quick Net Worth Snapshot (as of July 21, 2026)

The uncertainty here is genuine, not boilerplate. Rene Medina is not a public company executive with SEC filings, nor a celebrity whose contracts appear in trade press. His wealth profile reconstructed almost entirely from administrative and court records tied to the Lucky Chances Casino licensing dispute. Those records are detailed about the casino's finances but largely silent on Medina's personal investment portfolio, liabilities, or any holdings outside the trust structure.

Estimated Asset and Earnings Breakdown

The Promissory Note: The Core of His Documented Wealth

When Rene Medina sold Lucky Chances, Inc. to his sons Rommel and Ruell Medina in 2007, the deal was structured around a $48 million promissory note rather than a lump-sum cash payment. That note was subsequently transferred into the Rene and Mila Medina Irrevocable Blind Trust (also referenced in records as the 2008/2009 Irrevocable Blind Trust, with trustee Marino D. Gueco). Under the terms documented in OAH Case No. 2015110463, the buyers are required to make quarterly payments of $600,000, totaling $2.4 million per year, funded directly from casino proceeds. As of mid-2026, if payments have continued on schedule since the sale closed, cumulative receipts from that note alone would exceed $45 million over roughly 19 years. The note principal itself, depending on interest terms and any paydown schedule not visible in public records, may still carry a residual balance that represents a significant asset in the trust.

Business Interests

Medina no longer holds an operational role at Lucky Chances. As a result of his October 2008 felony conviction on three counts of federal tax evasion under 26 U.S.C. Section 7201, he is a statutorily disqualified person under California gambling law. His sons Rommel (CEO) and Ruell (CFO/COO) each own 50% of Lucky Chances, Inc. and manage the cardroom under CGCC license GEGE-001108. Lucky Chances, About (official site) notes the Colma location and that Lucky Chances operates a 60‑table cardroom Lucky Chances — About (official site). Rene's connection to the business, as documented in commission records as recently as March 2026, is purely as a financial interest holder through the blind trust. The casino itself generated $47.7 million in revenue in 2013 and $45.2 million in 2014, with operating income of $12.9 million and $10.9 million respectively, confirming it is a robust business capable of sustaining the note payments.

Real Estate

Administrative records from the DOJ Bureau of Gambling Control reference a private residence associated with the Medinas in both Atherton, CA (50 Valley Road) and Woodside, CA (50 Valley Court). Both communities are among the wealthiest ZIP codes in the United States, with median home values well above $5 million. The records note that Lucky Chances employees provided labor and materials for the property valued at $244,923. Administrative‑record finding: the total value of labor, materials, and sales tax provided to Medina’s home was quantified at $244,923.85 and Medina reimbursed the full amount (Medina v. Becerra, Federal district court filings and attachments (accusation and ALJ findings summarized on CaseMine)) Medina v. Becerra — Federal district court filings and attachments (accusation and ALJ findings summarized on CaseMine). 85, and that Medina reimbursed the full amount. This detail, while originating from an enforcement context, does confirm the existence of a high-value residential property. Whether Medina owns additional real estate is not documented in available public records.

Salary, Endorsements, and Other Income

There is no public record of Rene Medina drawing a salary from Lucky Chances after the 2007 sale, which is consistent with his disqualified status. No endorsement deals, media appearances, or public-facing commercial arrangements have been documented. Any investment income outside the trust, including stocks, private equity, or other business interests, is undisclosed. For estimation purposes, we assume some level of passive investment returns on accumulated trust distributions, but we do not assign a figure without documentation.

Asset and Earnings Table

Career Timeline and Key Financial Milestones

1. 1971: Rene Medina emigrates from the Philippines to the United States, per court filings in Medina v. Becerra (N.D. Cal.).
2. 1998: Medina founds Lucky Chances, Inc. and opens Lucky Chances Casino, a 60-table cardroom at 1700 Hillside Blvd., Colma, CA. This is the foundational wealth-building event of his career.
3. Early 2000s–2007: Medina operates Lucky Chances through its growth phase. By the time of the 2007 sale, the casino is a significant Bay Area gaming operation with revenues that would later be documented at approximately $45–$48 million annually.
4. 2007: Medina sells Lucky Chances to sons Rommel and Ruell for a $48 million promissory note payable at $2.4 million per year. The note is held in the Rene and Mila Medina Irrevocable Blind Trust. This is the largest single documented financial event in his record.
5. October 22, 2007: Medina pleads guilty to federal tax evasion, as reported by the San Francisco Chronicle/SFGate. Reports reference evaded tax amounts in the range of $591,000 to $973,000 across counts.
6. October 31, 2008: Medina is sentenced to 15 months in federal prison for evading $973,000 in income taxes. He had already repaid the taxes as part of the sentencing. The conviction triggers his classification as a disqualified person under California gambling law.
7. 2008–2009: The promissory note is transferred into the Rene and Mila Medina 2008/2009 Irrevocable Blind Trust with an independent trustee.
8. 2013–2014: Lucky Chances generates $47.7M and $45.2M in revenue respectively, with operating income exceeding $10M annually, confirming the casino's ability to sustain trust payments.
9. 2015: California DOJ Bureau of Gambling Control files an Accusation against Lucky Chances; OAH proceedings (Case No. 2015110463) detail the trust structure and financial arrangements.
10. 2017: Federal district court proceedings in Medina v. Becerra (N.D. Cal.) further document Medina's background and the casino's history.
11. March 19, 2026: California Gambling Control Commission meeting materials confirm the Rene and Mila Medina 2009 Irrevocable Blind Trust remains listed as a financial interest holder on Lucky Chances' active license.
12. October 28, 2024: California Court of Appeal issues a published opinion in Lucky Chances, Inc. v. California Gambling Control Commission, affirming (as modified) the CGCC's findings regarding Medina's material involvement and the conditions placed on the license.

How We Arrived at These Estimates

This profile draws exclusively on public records: the California Gambling Control Commission's Decision and Order in OAH Case No. 2015110463, the DOJ Bureau of Gambling Control's Accusation and Statement of Particulars, the federal district court record in Medina v. Becerra (N.D. Cal.), the California Court of Appeal's October 2024 published opinion, CGCC meeting materials from March 2026, and contemporaneous San Francisco Chronicle reporting from 2007 and 2008. No personal financial disclosures, tax filings, or private valuations were available to us.

The central estimate works as follows. The $48 million promissory note is the anchor. If payments of $2.4 million per year have continued without interruption since 2007, approximately $45.6 million in gross payments would have been distributed through mid-2026. After applying rough tax assumptions (federal and California state income tax on trust distributions, which could reduce after-tax receipts by 35–45%), a plausible after-tax cumulative receipt is in the $25–30 million range over the life of payments to date. Against that, we apply estimated living expenses, any legal costs from the protracted regulatory and criminal proceedings, and any portion of the note principal that may have been spent or reinvested. The residual trust balance, if any remains on the note, adds to the asset column. Real estate in Atherton or Woodside is estimated conservatively at $5–10 million based on current market comparables for the area, not a specific appraisal.

Data Gaps, Uncertainties, and Conservative vs. Optimistic Scenarios

The single biggest gap is the absence of any personal financial disclosure. We do not know: whether the note payments have been made continuously and on schedule, whether any renegotiation or default occurred after the lengthy regulatory dispute, the terms of the note beyond the $600,000 quarterly payment figure (interest rate, balloon provisions, amortization schedule), any liabilities Medina carries (legal fees, personal debt, tax obligations), or the composition of any investment portfolio built from trust distributions. The regulatory dispute between Lucky Chances and the CGCC was protracted and expensive; legal costs on both sides could have been substantial.

One structural factor worth noting: because wealth is held inside an irrevocable blind trust with an independent trustee, Medina's day-to-day control over these assets may be more limited than a typical high-net-worth individual's. The trust structure was a regulatory response to his disqualified status, not purely a tax or estate-planning vehicle. That distinction matters for any practical assessment of accessible wealth versus nominal net worth on paper.

Who Else Goes by Rene Medina, and Who Is Not in This Profile

The name Rene Medina is common enough that several distinct individuals appear in public records and media searches. This profile covers only the Filipino-American businessman and Lucky Chances Casino founder based in the San Francisco Bay Area. It does not cover any of the following: politicians named Rene Medina active in Latin American countries (notably a Mexican politician by that name), athletes, musicians, or other public figures sharing the name. If you were searching for Manuel Medrano net worth, see the separate profile on Manuel Medrano for that individual's financial summary. If you arrived here searching for a different Rene Medina, the profiles below may be closer to what you need.

Readers researching other figures with similar names in the Hispanic and Latin American business and entertainment space may find relevant context in nearby profiles on this site. Dario Medrano and Manuel Medrano are both documented figures whose financial profiles appear in this same research collection. Manuel Medina Mora, the prominent Mexican banker and former CEO of Citibanamex, is a distinctly different individual with a separate and significantly larger financial profile. For information on Manuel Medina Mora's finances, see the Manuel Medina Mora net worth profile covering his career as former CEO of Citibanamex and associated wealth estimates. Hervey Medellin is another name that occasionally surfaces in adjacent searches and has his own dedicated profile.

Suggested Images and Captions for This Story

• Exterior photo of Lucky Chances Casino at 1700 Hillside Blvd., Colma, CA. Suggested caption: 'Lucky Chances Casino in Colma, California, the 60-table cardroom Rene Medina founded in 1998 and sold to his sons in 2007 for a $48 million promissory note.'
• Aerial or street-level photo of Atherton or Woodside, CA residential neighborhood. Suggested caption: 'The Atherton and Woodside, California area, where administrative records reference a private residence associated with the Medina family.'
• Generic image of California Gambling Control Commission seal or Sacramento regulatory building. Suggested caption: 'The California Gambling Control Commission's licensing records and OAH proceedings are the primary public source of financial data on Rene Medina.'
• Photo illustration of a promissory note or legal document. Suggested caption: 'A $48 million promissory note, payable at $2.4 million per year, forms the backbone of Rene Medina's documented wealth.'
• Map graphic of the San Francisco Bay Area highlighting Colma, Atherton, and Woodside. Suggested caption: 'Key locations in the Rene Medina financial story: Colma (Lucky Chances Casino), and the Peninsula communities where the Medinas maintained a private residence.'

A Note on Accuracy and Limitations

Every figure in this profile is either directly sourced from a named public document or clearly labeled as an estimate with its derivation explained. Rene Medina has not made public statements about his personal wealth, and no verified personal financial disclosure exists in the public record as of our research date of July 21, 2026. Net worth estimates for private individuals are inherently imprecise, and this one is more uncertain than most given the trust structure, the unresolved questions about note payment continuity during litigation, and the absence of any investment disclosure. Readers should treat the central estimate of $20–25 million as a plausible order of magnitude, not a precise valuation. If new public records become available, particularly from CGCC proceedings or further court filings, this profile will be updated accordingly.