Print
E-mail
Share
digg
Newsvine
Facebook
Stumble
Technorati
reddit
Fark
twitterBankrupt Vegas hotel-casino considering new funding
Tuesday, Aug. 21, 2001 | 10:43 a.m.
The bankrupt Vacation Village hotel-casino on the Las Vegas Strip said it's considering a $42 million loan offer from a mystery lender after a $35 million bailout loan fell through.
Tim Heers, one of Vacation Village's major shareholders, declined to identify the new potential lender.
San Francisco-based Bank of Canton of California, which made a loan commitment on June 19 to provide the small 315-room Vacation Village with a 10-year refinancing loan of $35 million, said at a court hearing Monday the commitment wouldn't be extended after its Monday expiration.
The bailout plan was stalled in part by accusations from three Californian brokers that Vacation Village reneged on a Jan. 26 agreement to pay them a 9.75 percent commission -- $3.413 million -- after they allegedly introduced the hotel-casino to the bank. Vacation Village's offer on July 30 to settle for $480,000 was spurned by the brokers.
archive
- Most Read
- Discussed
- Most E-mailed
- Illness theory gaining ground for gambling addiction
- At CityCenter, it’s not your usual uniforms for workers
- Rebels wake up Sunday with top RPI
- Carl Icahn offers $156 million for Fontainebleau, outbids Penn National
- Ex-ACORN official gets probation for voter registration plan
- Vegas-based Majestic Star Casino seeks bankruptcy
- Report details events leading to officer’s fatal shooting
- 3 arrested in shooting of Metro officer appear in court
- Despite economy, swank of lawmaker’s fundraisers not in recession
- Wynns agree on ‘amicable’ split of assets in divorce
Blogs
Shark Bytes
Sharing some Thanksgiving traditions
The Kats Report
Oscar Goodman sounds like a man not running for governor
Robin Leach's Las Vegas Celebrity Watch
And the Season 9 winner of Dancing With the Stars is …
Elsewhere
Sen. Steven Horsford parked in handicap spot for hours (18 Comments)
Now and Then
Rory in disguise ... with glasses
Politics: Ralston's Flash
Angle: I am better than all other Republicans against Harry Reid and here's why (1 Comment)
Robin Leach's Las Vegas Celebrity Watch
Photo Gallery: Donny Osmond within reach of Dancing With the Stars victory
Calendar »
- 24 Tue
- 25 Wed
- 26 Thu
- 27 Fri
- 28 Sat
-
Thanks-Spinning with Z-Trip at Moon
Moon Nightclub | 10 p.m. to 11:59 p.m.
-
Food Drive at Coyote Ugly
Coyote Ugly | 10 p.m. to 11:59 p.m.
-
Surfer Blood with ACoSA at Beauty Bar
Beauty Bar | 10 p.m. to 11:59 p.m.
-
Ladies night at Feelgoods
Feelgoods
-
Canned food drive at Pure
PURE | 10 p.m. to 11:59 p.m.
The Sun
Locally owned and independent for more than 50 years.
