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The Chip Board Archive 04

Fate of LV Hilton

Park Place Entertainment Corp.

officials say they'll know Monday whether the Las Vegas

Hilton will be sold to a Los Angeles developer.

Park Place said last week a dispute had arisen over a

delay in the Hilton sale. Ed Roski Jr., owner of the

Silverton hotel-casino and developer of the $400 million

Staples Center, already paid a $20 million deposit for the

Hilton.

But Roski must close the deal by Saturday, which means

he will have until Monday -- the next business day, Scott

LaPorta, Park Place executive vice president and chief

financial officer, said Wednesday. Or, Roski can pay an

additional $5 million to extend the deadline to Feb. 7.

LaPorta said the company hasn't heard from Roski and

isn't sure about his plans. Wall Street analysts says Roski

is having trouble arranging financing.

Roski is also an owner of the Los Angeles Lakers and the

Los Angeles Kings.

He did not return a phone call Wednesday seeking

comment.

The sale of the 3,200-room Las Vegas Hilton Hotel for $365

million to Roski was announced in July.

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Fate of LV Hilton
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