 | Bovada is the only Internet casino endorsed by the Wizard. Here are my reasons why and my promise of support. |
LV Hilton name change -- chips?
| November 28th, 2011 at 12:40:00 PM permalink | |
| pacomartin Member since: Jan 14, 2010 Threads: 544 Posts: 6192 |
Colony Resorts was the one that applied for the name change.  Wine loved I deeply, dice dearly -Edgar, betrayed son of Gloucester in King Lear |
| November 28th, 2011 at 1:05:26 PM permalink | |
| Ayecarumba Member since: Nov 17, 2009 Threads: 113 Posts: 2032 | Thanks Paco. I noted in the NGC documents that the "Parball Corporation" was the last to hold the license. It appears to be a holding company for Caesars Corporate Gaming. I anticipate that a complete change over, with new cheque designs would be in order. However, the new license holders are supposed to coordinate with the old when the old cheques are retired. They have to post notice of exchange deadlines sometime in advance. I suspect they will introduce new logos, and use both designs for a while as they gradually take the old Hilton cheques out of circulation. |
| November 28th, 2011 at 1:59:28 PM permalink | |
| Doc Member since: Feb 27, 2010 Threads: 21 Posts: 2807 |
Whoa! That one caught me by surprise. I can't remember the history of these things (of course pacomartin can!), but I was thinking something progressed like: Bally's ---> bought by Hilton ---> spin off & name change to Park Place ---> more acquisitions ---> name change to Caesars ---> sold LV Hiton ---> Harrah's purchased Caesars ---> Harrah's taken private ---> name changed to Caesars If that is anywhere close to correct, then the LV Hilton hotel (and casino, I assume) have been separated from Harrah's for at least half a dozen years, with a lot of organization changes since then. Can any part (or holding company) of Harrah's/Caesars still be holding the license for the casino at the LV Hilton? |
| November 28th, 2011 at 3:03:05 PM permalink | |
| teddys Member since: Nov 14, 2009 Threads: 100 Posts: 2722 | Colony Resorts owns the LV Hilton. At one time, they owned the AC Hilton, Resorts AC, Resorts Tunica and Bally's Tunica. Now those are all spun off, and they are left with LV Hilton (LVH). They horribly mismanaged their properties and pretty much ran them into the ground. "If you can make one heap of all your winnings / And risk it on one turn of pitch-and-toss / And lose, and start again at your beginnings / And never breathe a word about your loss..." -Rudyard Kipling |
| November 28th, 2011 at 3:31:52 PM permalink | |
| Tiltpoul Member since: May 5, 2010 Threads: 28 Posts: 1133 |
In all fairness, their strategy was to get deals at fire sale prices on casinos and turn them for a profit. The only one they successfully managed to sell was Resorts East Chicago, and Ameristar was somewhat idiotic to get that property given the landscape of Horseshoe changing. Also, Resorts Tunica was the old Harrah's which was a piece of s$%^ anyways. Resorts actually made an effort to turn the property around, and initially, it was one of my favorite properties in Tunica. Bally's Tunica was never really anything special, and its small size was the ONLY reason it looked successful. While I never went to ACH or Resorts AC while they owned it, I imagine they screwed it up pretty bad. [Profile updated... more to come] |
| November 28th, 2011 at 4:47:52 PM permalink | |
| Ayecarumba Member since: Nov 17, 2009 Threads: 113 Posts: 2032 |
Sorry for the confusion Doc. You are correct. I was looking at the Flamingo Hilton history. Park Place Entertainment sold the LV Hilton to Colony in 2004, around the same time Park Place became Caesars Entertainment. Colony set up a holding company to run the Hilton, including the casino shortly after. |
| November 28th, 2011 at 5:00:53 PM permalink | |
| pacomartin Member since: Jan 14, 2010 Threads: 544 Posts: 6192 |
Resorts International Holdings, LLC (RIH), also known as Colony Resorts Holdings (CRH) is an affiliate of Colony Capital, LLC based in Las Vegas, Nevada. RIH was created by Colony Capital in 2000 after it purchased Resorts Atlantic City from Sun International for $144 million.  The LVH - casino changed hands in 2004, when Caesars Entertainment sold the property to Colony Capital, for $280 million. In 2005 Colony Resorts purchased four more properties from Caesars and Harrah's for a total of $1.24 billion prior to the Harrah's buyout of Caesars. The four properties are: Bally's Tunica, Resorts Casino Tunica, Ameristar Casino East Chicago (sold April 2007 to Ameristar for $675 million) Atlantic City Hilton. On December 10, 2009, it was announced that Resort International wasn't able to pay the mortgage for more than a year for the Atlantic City property and made a deal to have the loan canceled and surrender the property to RAC Atlantic City Holdings L.L.C. (which is owned by the lenders, Wells Fargo and others). =============================================================  Hilton is owned by Ladbrokes PLC which doesn't want the name associated with another gaming company.
Wine loved I deeply, dice dearly -Edgar, betrayed son of Gloucester in King Lear |
| November 28th, 2011 at 6:36:28 PM permalink | |
| Doc Member since: Feb 27, 2010 Threads: 21 Posts: 2807 | OK. And that's relevant to the reason I started this thread in the first place -- I am interested in adding to my collection the new chips from (Flamingo) Margaritaville Casino and the Las Vegas (former Hilton) Hotel and Casino when I next visit the city. |
| November 28th, 2011 at 6:55:07 PM permalink | |
| Ayecarumba Member since: Nov 17, 2009 Threads: 113 Posts: 2032 | It will be interesting to see what actually happens, since the name change could be a play to get the Hilton name off the joint before the foreclosure gets approved. New places also include the "Downtown Grand" (formerly the "Lady Luck"), and possibly the renamed "Las Vegas Club/Vegas Club/LVC/The Vegas Club". I don't know what the timeline on the DG is like though. |
| November 28th, 2011 at 7:31:01 PM permalink | |
| Doc Member since: Feb 27, 2010 Threads: 21 Posts: 2807 |
I did not get a Lady Luck chip before the place closed, and I will definitely want to get one from whatever they call the place when a new casino finally opens. As for the corner of Main and Fremont Streets, I was aware that the name changed from Las Vegas Club to Vegas Club and back to Las Vegas Club. Once I went in to try to get a "Vegas Club" souvenir chip, but they were still using the same chips I had collected before, with the original name. Was the name actually "LVC" at one time? I don't think they ever changed the exterior lights/sign that say "Las Vegas Club", no matter what the real name of the place was. |
| Bovada is the only Internet casino endorsed by the Wizard. Here are my reasons why and my promise of support. |