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ALADDIN TO BE SOLD IN 6 TO 12 MONTHS

Dec 2, 2001 11:53 PM

The bankrupt Aladdin Hotel and Casino could sell for less than half of its original purchase price, according to a Reuters report.

Lenders for the Las Vegas resort plan to sell in the next six to 12 months. The Aladdin cost $1.2 billion to build.

The year-old hotel is 40 percent owned by London Clubs International andd 57 percent owned by the Sommer Family Trust.

John Leupp, an analyst at Credit Suisse First Boston, predicted that the purchase price could be about $500 million.