Issue 18
January 11- 17, 2001
Volume 1
page 1

This Issue

Gaming News
Las Vegas Hilton Sale Off

Stratosphere Construction Continues

Hard Rock Casino to Open 2 Casinos in Florida

Casino Opens In German Airport

MGM Grand Breaks Ground on Employee Childcare Center

Harrah's New Orleans Operator Files for Reorganization

Three More Strip Mega-Resorts Planned

Majestic Star Casino Offers
a Chance at Fame and Fortune

Pedestrian Bridge
Joining Venetian And Mirage/Treasure Island
Opens One Month Ahead of Schedule

Poker & Probability Book Offer New Approaches To Old Subjects

Show Time
Bobcat Goldthwait will visit Sunset Stations Hotel Casino January 20

Check out our entertainment highlights & upcoming tournaments

See who are the lucky winners

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LV Hilton Sale Off

LAS VEGAS - Park Place Entertainment's $365 million sale of the Las Vegas Hilton to Los Angeles real estate developer Ed Roski Jr. is dead.

Park Place Entertainment said January 4 its deal to sell the 3,174-room Paradise Road property to the Southern California-based real estate developer is in dispute, saying that Roski failed to make a $5 million earnest payment January 3. The payment would've allowed the owner of the Silverton hotel-casino to postpone the Las Vegas Hilton purchase until February 7.

Now Roski, who also owns a share of the Los Angeles Lakers and Kings sports franchises, has until Jan.9 to complete the transaction, according to Park Place executives.

"Based upon our conversations with Mr. Roski, we believe it's highly unlikely he'll complete the purchase," Park Place Chief Financial Officer Scott LaPorta said Jan. 4.

Roski's purchase was first announced in July 2000, and was approved by the Nevada Gaming Commission in October after the minority owner of the Los Angeles Kings and Lakers negotiated an extension with Park Place allowing him more time to secure financing.

"I think we have to now assume the transaction won't be completed," Robertson Stephens gaming analyst Harry Curtis said Jan. 4. Curtis estimated that the poor performance of the Las Vegas Hilton cost Park Place $20 million during the company's fourth quarter, which ended Dec. 31, 2000.

Stratosphere Construction Continues

LAS VEGAS - Construction continues for the Stratosphere Hotel & Casino on Las Vegas Boulevard. The $65 million project includes 1,002 guest rooms, a 67,000-square-foot swimming pool and recreation area and a coffee shop.

The 1,002 rooms include 100 suites with spa tubs dispersed throughout the floors. The hotel now has 1,444 rooms. The construction is scheduled to be completed by this Summer.

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