Las Vegas Hilton To Sell To Developer

Park Place Entertainment announced on July 11 that it had agreed to sell the Las Vegas Hilton to Ed Roskey Jr. for $365 million. The deal is expected to be completed by the end of the year and must be approved for regulation.

"The sale of the Las Vegas Hilton enables Park Place to strengthen its high-end gaming business at the legendary Caesars Palace," said Arthur Goldberg, president of Park Place Entertainment. "We can now focus 100 percent of our efforts in Las Vegas on our four properties in the heart of Las Vegas Street, while also feeling comfortable knowing that this asset will be in the hands of a successful and responsible businessman like Ed Roskey."

President and CEO of Majestic Realty and co-owner of the Los Angeles Lakers basketball team and the Los Angeles Kings hockey team, Roskey plans to focus on several locations at the Las Vegas Hilton once the sale is complete. These include improving the number of dining, entertainment and retail services, diversity and quality, converting casinos and public spaces into a modern experience with more slot machines and remodeling more than 1,000 hotel rooms.

"We are very happy to drive our commitment

And then there's the idea for one of the most identifiable properties in Las Vegas," Rosky said. He will work with Hilton to continue his relationship with the internationally recognized brand. 릴게임

Hotel closures are not planned and employees can expect to remain in their place at the casino resort. Also, the sale is not expected to affect plans to extend the Vallis-MGM Grand Monorail to the Las Vegas Hilton.

Park Place Entertainment owns and operates Valley Hotel and Casino, The Flamingo Hilton, Caesars Palace, and the recently opened Paris Hotel and Casino in Las Vegas, as well as 28 gaming facilities around the world.