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Issue
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July
23 - August 6, 2000
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Volume
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This Issue Gaming
News Two armed men rob Treasure Island casino MGM Grand changes name to MGM Mirage Aladdin Resort & Casino to be open mid-August Oasis in the desert - the lengendary Gambler's Book Shop New games at Harrah's Atlantic City and throughout California Internet
Gaming Columns Show Time
Check out our entertainment highlights & upcoming tournaments See
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Las Vegas Hilton Sold to DeveloperPark Place Entertainment announced on July 11 an agreement to sell the Las Vegas Hilton to Ed Roski, Jr. for $365 million. The transaction is expected to be complete by yearend and is subject to regulatory approval. "The sale of the Las Vegas Hilton allows Park Place to consolidate its high-end gaming operations at the legendary Caesars Palace," said Arthur Goldberg, President and CEO of Park Place Entertainment. "We can now focus 100% of our efforts in Las Vegas on our four properties at the center of the Las Vegas Strip, while at the same time we can feel comfortable knowing that this asset will be in the hands of a successful and responsible businessman like Ed Roski." Roski, President and CEO of Majestic Realty Co. and co-owner of the Los Angeles Lakers basketball team and the Los Angeles Kings hockey team, plans to focus his efforts on several areas in Las Vegas Hilton upon completion of the sale. Some include: increasing the number, variety and quality of dining, entertainment and retail offerings; renovating the casino and public space to a more contemporary experience with more slot machines; and remodeling over 1,000 hotel rooms. "We're very excited to bring our commitment |
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and ideas to one of Las Vegas' most identifiable properties," said Roski. He will be working with the Hilton Corporation to continue the association with the internationally recognized brand. No shutdown of the property is planned and employees can expect continuity in their positions at the casino resort. Additionally, the sale is not expected to impact the proposed plans to extend the Bally's-MGM Grand monorail to the Las Vegas Hilton. Park Place Entertainment owns and operates Bally's Hotel and Casino, The Flamingo Hilton, Caesars Palace and the recently open Paris Hotel and Casino in Las Vegas as well as 28 gaming properties worldwide. |
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