The Las Vegas Hilton is said to be getting close looks from prospective buyers who are believed to include at least one and perhaps two of the UK-based bookmaking giants who have been shopping for Nevada assets.
Reports from different unofficial sources say there has been a recent offer for about $160 million that may have come from William Hill, the British bookmaker that has recently purchased a number of smaller books and may be looking for a casino to use as a hub and a kind of "display case" for its best efforts.
The Hilton is increasingly viewed as buyable since the use of the Hilton name was pulled by the Blackstone Group, the equity fund that owns Hilton Hotels and controls the use of the Hilton name. Blackstone said use of the Hilton name and reservation system would no longer be allowed after the end of the year unless some of the deferred maintenance issues get serious attention.
The other side of the story, however, is that the Hilton has appeared to be close to a sale for a number of years at figures much higher than $160 million. But local property values along the Las Vegas Strip corridor are not what they were a few years ago. Still, there is no sale.
On the other hand, LVH owners Colony Capital and the Goldman Sachs White Hall fund may be more inclined to think of the hotel and casino as a real estate deal than a resort operation. Kind of the same way Fontainebleau owner Carl Icahn views his half-finished property on the other side of Paradise Road from the Hilton.
Terrible’s Hotel & Casino began its transition to a new identity by uninstalling its iconic Terrible’s Cowboy neon sign on Monday. The property will become the Silver Sevens Hotel & Casino in July.
Vegas Sports Books | The LVH Super Book threw out all kinds of cool NFL stuff on Sunday that will give bettors something to chew on for a while. They posted their games of the year along with their season win totals.
The Miami Herald building, although still standing, no longer houses the newspaper operation. As of last week, the Miami Herald building is now owned by Malaysia-based Genting Group, the company that paid $236 million for the right to tear it down.
After paying an $11 million advance to a struggling Atlantic City casino it intended to buy, the parent company of the world’s largest online poker website was left with nothing for its troubles Friday when a judge ruled the casino had the right to scrap the deal.
New Jersey moved forward Friday with its plans to offer Internet gambling, issuing regulations on how the new online bets are to be handled. The state still has not set a date when Atlantic City’s 12 casinos may begin offering Internet bets.
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