Sale of Regent bringing changes

Tuesday, Nov. 20, 2001 | 10:57 a.m.

The sale of the Regent Las Vegas is set to close at midnight tonight, and changes are on the way at the bankrupt Summerlin hotel-casino.

Lanis O'Steen, the Regent's chief restructuring officer, said new owner Hotspur Resorts plans to put a JW Marriott brand on the hotel -- the upscale brand name of hotel chain Marriott International Inc. Just six other hotels in the United States currently carry that brand.

"They will try to bring that about very swiftly," O'Steen said.

Marriott has historically shied from direct involvement in the gaming industry, but has looked before at ways to become a partner of gaming companies.

Another is the pending installation of long-time casino executive Bill Paulos -- one of the executives who helped create the New York-New York -- as the Regent's new casino manager.

Paulos received the Nevada Gaming Commission's approval to participate in the operations of Resort at Summerlin L.P., the casino's current owner. Because Hotspur does not hold a gaming license, it must lease the casino to Resort at Summerlin -- the current license-holder -- in order to close on the sale.

Within 60 days, Paulos expects to return to the commission for permission to become the Regent casino's new operator.

"We really believe it's a great place for a niche locals market," Paulos said. "We feel there's a lot of locals who would like an intimate casino."

Paulos said there will be changes at the property, but didn't provide many details beyond saying several restaurants would be put in close to the casino.