Yes Wayne McLeod was a big real estate figure on the South Shore of Lake Tahoe, owning many valuable properties in Stateline.

Here's a page from the Douglas County deed book showing he owned the Circus Room (next door to the Twin States Club), before it became Barney's Club in 1960.

Here's a photo of Wayne McLeod's properties in the early 1950s: the Circus Room (which would become Barney's Club a decade later) and the Colonial Club (formerly the Twin States Club, which would become the Tahoe Palace Club a few years later).