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Aladdin CEO denies ‘shopping’ the hotel

Apr 3, 2001 8:38 AM

Richard Goeglein, CEO of Aladdin Gaming, on Saturday categorically denied a story in a Las Vegas newspaper that the Aladdin was being “shopped for sale” by hotel executives.

   “I guarantee we are not selling this company,” Goeglein said. He added that the “mean spirited” story cited unnamed sources, but that his office was never contacted for a company response.

   The story cites “knowledgeable sources” who claim that Goeglein and investment bankers from Merrill Lynch and the Bank of Nova Scotia “have spearheaded” efforts to sell the hotel to gaming groups such as MGM Mirage, Park Place Entertainment and Harrah’s Entertainment.

   “It just ain’t so,” Goeglein said, adding that the story was part of a pattern of “negative reporting” that has plagued the Aladdin since it opened seven months ago.

   Goeglein’s comments came at the end of a breakfast meeting of the Millennium Hospitality Summit, which was held Thursday-Saturday at several venues.

   In other matters, Goeglein said he was confident a bill currently in the Nevada Senate that would legalize private high-roller salons would be approved.

   He suggested exclusive high-limit areas could be a reality by next year. The London Club at the Aladdin is a high limit area, although it is open to the public.

   Goeglein said part of the London Club could be closed off and used as a private high-stakes gaming area.