slotmachinesitecom   Album Posted Oct.21st, 2023, viewed 43 times

Las Vegas Hilton Sells To Developers

Park Place Entertainment announced on July 11 that it has agreed to sell the Las Vegas Hilton to Ed Rosky 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 allows Park Place to consolidate its high-end gaming business at the legendary Caesars Palace," said Arthur Goldberg, president of Park Place Entertainment. "We can now focus 100% of our efforts in Las Vegas on our four properties in the heart of the Las Vegas Streep, while at the same time feeling comfortable knowing that this asset will be in the hands of a successful and responsible businessman like Ed Rosky."

Rosky, president and CEO of Majestic Realty and co-owner of the Los Angeles Lakers basketball team and the Los Angeles Kings hockey team, plans to focus on multiple locations in the Las Vegas Hilton once the sale is complete. They include improving the number, variety and quality of dining, entertainment and retail services, transforming casinos and public spaces into modern experiences 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.

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.
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