Are the Lewin brothers interested in acquiring that Paradise Road resort formerly known as the Las Vegas Hilton?
“We certainly have talked about it,” Larry Lewin confirmed to GamingToday following a recent weekend at the hotel and casino once operated by his dad the late Henri Lewin.
Larry Lewin said he and his two brothers Jerry and Barry were at the hotel “for what they planned as a birthday party for me.”
It’s a property where the brothers are still on a first name basis with many of the longtime employees who were working there when their dad ran the place during its best years up until about mid-1985.
They took over one of the former Hilton’s big suites during their recent stay there and partied in one of the signature restaurants, even bringing in an Elvis impersonator, a natural move considering the three brothers were getting their feet wet in the Las Vegas resort business during the Elvis era.
All three brothers have since gone on to big jobs in the hotel industry. Jerry and Barry are senior vice presidents at the corporate level with Hyatt and Hilton Hotels, respectively. Larry has also spent time at the upper levels of the Hyatt organization, the point being they have both the contacts and the interest necessary to get a deal moving forward.
Larry said Jerry was particularly enthusiastic about exploring the possibilities for acquiring the 60-acre property as a sort of “family project.” Larry Lewin said he is not overlooking the challenges, any one of which could provide enough sharp edges to get in the way of a completed deal.
But Larry said he also believes the three brothers have an unmatched enthusiasm for the property that is not going to be found among prospective buyers who seldom look any further than the numbers, which have not been good during recent years.
Not that the Lewin brothers are overlooking the numbers. Larry said a future owner of the former Hilton, which now operates as the Las Vegas Hotel, is going to have to spend “significant money” improving areas of the hotel and casino that have not received serious attention during recent years.
It is this lack of attention to interior improvements that resulted in the resort losing its rights to a Hilton marquee.
At Gaming Today we are dedicated to providing valuable up-to-date information on the casino industry and pari-mutuel race wagering. With news and features, plus expanded coverage in key areas – race and sports analysis, picks, tips, and handicapping.