Roski recommended to buy LV Hilton

Thursday, Oct. 5, 2000 | 9:23 a.m.

Roski told the Nevada Gaming Control Board he decided to buy the Las Vegas Hilton in January because of its proximity to the Las Vegas Convention Center and the availability of adjacent land.

The estimated purchase price is $300 million, but that could change depending on final amount of Hilton's debt.

When Roski takes over the 3,000-room property from Park Place Entertainment Corp., the Hilton will no longer accept wagers on NBA and NHL games because of Roski's ownership interest in the Los Angeles Lakers and the Los Angeles Kings.

Roski, who developed the $400 million Staples Center in downtown Los Angeles, also owns the Silverton hotel-casino south of the Strip.

The Las Vegas Hilton typically has targeted high-end gamblers, but Roski told the board that will change.

"We will take the casino out of high-end business and reposition it more in the middle market."

Roski plans a three-phase renovation project to add more dining and casino space.

He also said he plans to build a new 2,000-room hotel in front of the Hilton.

The Nevada Gaming Commission will meet Oct. 26 to consider the board's recommendation.

Also Wednesday, the board recommended Las Vegas-based E-T-T, Inc. be approved to acquire from Jackpot Enterprises Inc. its three subsidiaries in the slot machine route business for $45 million.

E-T-T is owned by individuals who operate the Terrible Herbst chain of gasoline stations and convenience stores.