Continental hotel-casino files bankruptcy

Friday, Feb. 20, 1998 | 10:37 a.m.

The Continental hotel-casino, a 400-room locals property at 4100 Paradise Road, has filed for Chapter 11 reorganization in Bankruptcy Court in Las Vegas.

The hotel company, which leases land acquired last year by Crowne Gaming, a subsidiary of Las Vegas-based Crowne Ventures, lists assets totaling $5.7 million and liabilities of $5.4 million. According to court documents, the two largest creditors in the case are Crowne Gaming, which is owed $368,000. and International Game Technology, which is owed about $275,000.

A spokesman for Ira Levy, president and general manager of the Continental, said the company plans to keep the casino open and the approximately 400 employees would continue to stay on the job. A spokesman for Crowne was not available for comment this morning.

The Continental has about 500 slot machines and nine table games, including seven blackjack tables. The hotel also is home to Steve Rossi's "Tribute to Ed Sullivan" production show and the 24-hour Big Daddy's Diner.