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Posted At : August 28, 2008 10:25 AM | Posted By : D McKee
Related Categories:
Cannery Casino Resorts,Station Casinos,Harrah's,Current,Boulder Strip
Yesterday, I asked how William Paulos and William Wortman were able to bring in Eastside Cannery (which opens tonight) for 250 million clams -- $425 million less than Station Casinos is splurging on Aliante Station. In today's Sun, Liz Benston explains how. The two Bills have a history of turning sow's ears into silk purses and, should the buyout of Cannery Casino Resorts by James Packer go through, they'll only stay on long enough to get their Pennsylvania racino open.
Hopefully -- hopefully -- Packer will retain enough of the Paulos/Wortman-assembled executive team to get things humming along in their wonted fashion, and will refrain from meddling. Casino operators, especially ones from overseas, who are novices in the Vegas market tend to have a very rough go of it here.
Harrah's makes the news and not in good way. On the other hand, who knew that the erstwhile Barbary Coast was where the hip-hop crowd likes to roll, especially after a run-in with the law? Of course, the "Suge" Knight incident is big news for us at LVA, seeing as it went down an Olympic shot put-throw's distance from our Procyon Ave. corporate headquarters. And now Gary Loveman can brag on how "gangsta" his properties have become.
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