Roski defaults, PPE files suit

Jan 17, 2001 2:43 AM

Lawsuits have been filed in state and federal courts by Park Place Entertainment (PPE) alleging that Ed Roski, Jr. breached his agreement to buy the Las Vegas Hilton for about $300 million.

"The deadline (Monday) came and went and no word came from Roski," a source told GamingToday. "The deal is dead on arrival."

More: "Look for PPE to continue to operate the off-strip, 3,200-room resort. As far as the $20 million Roski put up in good faith, kiss that good-bye, too! The money is in escrow and although Roski probably will not agree to surrender the money without a battle, that is certainly the course PPE will take."

Plans for acquisition were wobbly almost from the outset after it was announced last summer. It was reported that Roski ”” in an effort to keep the deal alive ”” put up additional funds to extend the deadline, GamingToday learned.

It had been rumored for months that Roski was having trouble arranging financing. A newcomer on the Las Vegas casino scene, Roski has been highly successful in the operation of the smaller Silverton Hotel-Casino. The Los Angeles businessman is also an owner of the Los Angeles Lakers and the Los Angeles Kings.

Telephone calls to both companies went unanswered at deadline on Monday.

Stay tuned.

CMA Associate

Gillian Silver is the Vice President of Corporate Communications for Ameristar Casinos. She was recently honored as "Marketing and Tourism Volunteer of the Year." This award was bestowed by the Henderson Chamber of Commerce board members during a celebration sponsored by The Reserve Hotel Casino. She was singled out for her "extraordinary committee leadership and contribution of professional expertise" says Marketing and Tourism Chair Steve Clark.

Gillian and colleague Andrea Primo, Marketing Manager of the Henderson Convention Center, developed the Chamber’s first marketing plan in the organization’s 53-year history. Gillian is an excellent speaker and facilitator, and is a three-year CMA member. She is expecting her first child early next year.