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twitterNo word on deadline
Monday, July 16, 2001 | 11:11 a.m.
There was no official word from the Aladdin this morning on the status of an $8.7 million investment due from the property's owners Sunday.
The "keep-well" payment from the Sommer Trust and London Clubs International is required because the Aladdin fell below cash flow targets in the quarter ending March 31. The payment was initially due May 31, but was extended several times by the Aladdin's bankers.
Sources familiar with the situation indicated this morning, however, that negotiations between the Aladdin and its bankers are continuing, and that the banks are unlikely to enforce the deadline while talks are ongoing.
One of the Aladdin's newest tenants indicated Friday the property's financial situation may be improving.
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