Official: Binion’s deal progressing

Monday, Jan. 19, 2004 | 10:53 a.m.

As negotiations for the sale of the shuttered Binion's Horseshoe Club continued through what was a three-day weekend for many, dozens of laid-off employees took advantage of training and employment placement assistance today.

A spokesman for Harrah's Entertainment Inc. said today that "substantial progress" was made Saturday and Sunday in negotiations for the Las Vegas-based company's proposed purchase of the downtown Las Vegas landmark property that closed Jan. 9.

Harrah's said it had reached a preliminary agreement to buy the property last week, but no details of the transaction have been released and work continues on a definitive agreement.

Representatives for Binion's could not be reached for comment today.

The Horseshoe closed after employee unions' health and welfare funds, acting on a court order, seized $1 million from the casino and depleted its bankroll.

The Horseshoe matter will be one of the first orders of business when the state Gaming Control Board meets Thursday at 9:30 a.m. The board is awaiting new developments to determine what, if any, action would be taken. The board would need to approve any plan to reopen the casino.

Meanwhile, about 80 laid-off Horseshoe employees took advantage of employment and training assistance offered today by the non-profit Nevada Partners Inc. and the Culinary Training Academy.

Steven Horsford, president and chief executive of both operations, said about 50 employment assistance workers came in today on what was supposed to be a holiday observing Martin Luther King Jr.'s birthday.

Horsford said because of the many scenarios that could occur with the Horseshoe -- from it opening under new ownership to a complete closure -- employees are being prepared with new job skills and in filling out government unemployment benefits applications.