Ed Roski is back in the news!
Instead of references about ongoing lawsuits with Park Place Entertainment, the story focuses on Roski’s involvement in a deal to run the bankrupt Regent Las Vegas resort.
Last week Maritz Wolff Inc. was named
the new stalking bidder for the Regent when it came up with a bid of $80 million
cash. Lew Wolff, majordomo in the move and owner of a number of luxury hotels,
and Roski are friends. Wolff wants no part of the casino. He sees the Regent as
a potential for a high-end hotel. He reached out to Roski and Starwood Hotels
and Resorts Worldwide. Starwood would oversee the hotel part of the deal. Roski
would run the casino.
A hearing is set for Thursday (Aug. 9). And, if no better bids hit the table, Maritz Wolff Inc. will be in the driver’s seat.
“It’s not a done deal,” said an in-the-knowster. “But, other potential bidders will have to move quickly. I’d say that the high bidder (Maritz Wolff) will win out and will be anxious to close quickly.”
How quick is quickly?
“I’d say by late October . . . Is that quick enough?”
The Los Angeles investment company was looking for a concession and won it in federal bankruptcy court when the court ruled to award Maritz Wolff Inc. up to $250,000 in expense reimbursements, even if they were not the winning bidder.
It was also learned that the investment company would have the option of matching any higher offers.
It’s certainly good news for Roski. He has filed lawsuits against Park Place claiming they squeezed him out in his bid to buy the Las Vegas Hilton. Roski, it is said, is fighting mad and, with or without the Regent deal connecting, he will continue to pursue his case against Las Vegas Hilton and Park Place Entertainment.