Lady Luck selling Bally’s interest
Saturday, Oct. 11, 1997 | 6:58 a.m.
Hilton Hotel Corp. is buying the interest for $15.25 million in cash.
Lady Luck, headquartered in Las Vegas, entered the joint venture with Bally's Olympia Ltd. Partnership in March 1995.
The sale is expected to be completed by the end of the year pending regulatory approval.
Lady Luck operates the only casino in Natchez and operates Biloxi and Coahoma County casinos and in Colorado, Iowa and Missouri.
In August, Horseshoe Gaming and Lady Luck Gaming announced a deal to put a casino and hotel in Vicksburg.
The announcement had been expected since the two gaming companies signed letters of intent earlier this month to develop Lady Luck's site just south of Interstate 20 next to the Mississippi River Bridge.
The $100 million project, to be developed and operated by Horseshoe, will include a casino, restaurants, an 800-car parking garage and 200-room hotel.
Ameristar, Harrah's, Isle of Capri and Rainbow already have casinos in Vicksburg.
Pasadena, Calif.-based Horseshoe has casinos in Tunica County and Bossier City, La.
In 1996, Hilton's acquired Bally Entertainment for $3 billion.
Hilton has been locked in a battle with ITT Corp. over Hilton's $11.5 billion hostile takeover bid. ITT shareholders will meet Nov. 12 in Las Vegas to discuss the issue after a judge in September blocked the company's plan to split into three separate companies in a move to thwart the Hilton bid.
ITT owns Caesars World resorts and the Sheraton chain including Sheraton Casino in Tunica.
archive
- Most Read
- Discussed
- Most E-mailed
- Scientology foe’s arrest raises issue of rights
- ‘Stripper-mobile’ with live dancers raises safety, decency concerns
- Manny Pacquiao, Miguel Cotto arrive at MGM Grand
- Miguel Cotto camp says big cut in June fight an asset now
- Cada cherishes moment as poker’s youngest champ
- $5.1 million later, life goes on for Darvin Moon
- Vegas resorts get new places on Monopoly game board
- Fight snapshot: Arum takes a pot shot during Pacquiao training
- Rebels old and new celebrate anniversary of 1990 title
- Harrah’s launches program to focus on small group travel
Blogs
Shark Bytes
Players on championship team always worked hard (3 Comments)
Sports: Upon Further Review
Fight snapshot: Predictions for Pacquiao-Cotto
The Kats Report
A lesson in information dissemination, with a little Twitter and a lot of Agassi
Now and Then
Ichabods were tougher than they sound
Politics: Ralston's Flash
I shudder to think what the “amazing door prize from the governor” might be (4 Comments)
Pew Center report finds what others have: Nevada's economy depressed, future in doubt (6 Comments)
Elsewhere
Kelly Pavlik to fight in hometown on Dec. 19
Calendar »
- 11 Wed
- 12 Thu
- 13 Fri
- 14 Sat
- 15 Sun
-
Foreigner at Star of the Desert Arena
Star of the Desert Arena
-
Days of the New at Wasted Space
Wasted Space | 10 p.m. to 11:59 p.m.
-
DJ Boris at Godskitchen
Body English | 10:30 p.m. to 11:30 p.m.
-
Holding on to Sound at Beauty Bar
Beauty Bar | 10 p.m. to 11:59 p.m.
-
Rockabilly Wednesay at Revolution Lounge
Beatles Revolution Lounge | 10 p.m. to 11:59 p.m.
The Sun
Locally owned and independent for more than 50 years.
Technorati












