COAST LOSES OPENING BID TO TAKE OVER THE REGENT

August 10, 2001 8:21 PM
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Maritz, Wolff & Co. was selected as the preferred opening bidder for the bankrupt Regent Las Vegas.

A bankruptcy court judge turned down an 11th-hour $82 million cash bid from Coast Resorts and accepted the initial offer of $80 million from the Los Angeles-based hotelier.

Judge Robert Jones said there was not enough time to conduct similar checks of the Coast offer, while meeting Thursday's deadline for an opening bid. The Summerlin hotel-casino will be sold at a Sept. 25 court auction.