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November 9, 2009

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Fate of Hilton sale to be known soon

Thursday, Jan. 11, 2001 | 9 a.m.

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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