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Desert Inn

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NEWS
September 9, 1987 | Associated Press
Los Angeles-based MGM Grand Inc. announced today it has purchased the Desert Inn and Sands hotel/casinos on the Las Vegas Strip for $167 million. MGM Grand Inc. is owned by financier Kirk Kerkorian, who has long been active in Nevada gaming circles. The Desert Inn and Sands are currently owned by Summa Corp. Kerkorian built the MGM Grand hotels in Las Vegas and Reno, which were purchased by Bally Corp., and the International Hotel, which became the Las Vegas Hilton.
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NATIONAL
October 30, 2012 | By John M. Glionna, Los Angeles Times
LAS VEGAS - The afternoon light is fading as Danielle Kelly walks the place known as the Neon Boneyard. Night will soon overtake this gambling town, a time when that original bling - the fanciful curves of electric neon - for decades beckoned and bewitched. Kelly reviews the metal remnants of cartoonish come-ons that once towered over the Moulin Rouge, Desert Inn, Golden Nugget and Stardust casinos, as well as wedding chapels, dry cleaners and motels. But time moves on, especially here.
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BUSINESS
May 19, 1999 | Bloomberg News
Sun International Hotels, owner of the Atlantis resort in the Bahamas, agreed to buy Desert Inn from Starwood Hotels & Resorts Worldwide Inc. for $275 million in cash. The purchase would mark Sun International's entry into Las Vegas, the world's largest gambling market. Starwood, the world's largest hotel owner, is selling its major casino resorts to focus on its Sheraton and Westin hotel chains.
ENTERTAINMENT
December 20, 2009 | By Richard Abowitz
As Garth Brooks' much-hyped return dominated the news, and all things Vegas focused on the opening of CityCenter, a little blues club and restaurant had a celebration at the Mirage last weekend. A VIP line formed stretching down a hallway an hour before the doors opened for the invitation-only grand opening of the latest, fifth outpost of B.B. King's Blues Club. The night promised to be special as the legendary performer would cap it by taking the tiny stage in the small club -- laid out with a restaurant, dance floor and a bar in the back -- to lead an all-star jam. As the line grew, King reflected on his career and the genre in a VIP suite, interrupting himself to check out the scene.
BUSINESS
April 28, 2000 | Associated Press
Casino mogul Steve Wynn has purchased the Desert Inn hotel-casino, a month after he agreed to sell Mirage Resorts Inc. to rival MGM Grand Inc. "Wynn confirmed [Thursday] afternoon that he is the purchaser of the Desert Inn as a birthday gift for his wife," a spokesman for Wynn said. Wynn also acquired the Desert Inn golf course behind the resort and an adjacent 32-acre parcel.
BUSINESS
August 4, 1997 | KAREN KAPLAN, TIMES STAFF WRITER
Billionaire real estate investor Marvin Davis agreed Sunday to buy a half interest in Desert Inn Resort & Casino, one of ITT Corp.'s swanky Las Vegas properties. The $200-million deal marks Davis' first foray into casino gambling properties. Los Angeles-based Davis Gaming LLC would form a 50-50 joint venture with ITT, which would continue to operate Desert Inn on the Las Vegas Strip.
BUSINESS
July 24, 1991 | SUSAN MOFFAT, TIMES STAFF WRITER
MGM-Grand Inc. announced Tuesday that it was selling the Desert Inn Hotel and Casino in Las Vegas to financier Kirk Kerkorian's Tracinda Corp. for $130 million, far below the price it hoped for when it first put the property on the market a year ago.
BUSINESS
August 28, 2001 | From Associated Press
Plans for the historic Desert Inn resort have been formally announced. The proposed property will include a 45-story, 2,455-room, 514-foot-tall golden glass tower and a four-acre lake. "This resort will redefine, once again, the luxurious mega-resort in Las Vegas," wrote DeRuyter Butler, executive vice president of architecture for Butler Ashworth Architects, in a letter to the Clark County planners.
BUSINESS
June 29, 1993 | From Bloomberg Business News
ITT Corp. said it signed an agreement to buy Desert Inn Properties from an investment group led by financier Kirk Kerkorian for about $160 million. The move marks ITT's first foray into gaming. For almost a year and a half, ITT Sheraton, the holding company's lodging unit, has been seeking a major acquisition of a gaming property. "This agreement is the culmination of yearlong discussion, which began with personal conversations between Kirk Kerkorian and me," said ITT Chairman Rand V. Araskog.
BUSINESS
August 29, 1990 | TOM FURLONG, TIMES STAFF WRITER
Financier Kirk Kerkorian on Tuesday placed his Desert Inn Hotel and Casino up for sale for an amount believed to exceed $200 million. The Desert Inn is a landmark property on the Las Vegas Strip with a colorful history but an unimpressive bottom line. MGM Grand, Kerkorian's majority-owned company in Culver City, has hired the New York investment banking firm of Bear, Stearns & Co. to conduct a worldwide search for a buyer for the 40-year-old casino-hotel.
CALIFORNIA | LOCAL
September 2, 2008 | From Times Staff and Wire Reports
Allard Frank Roen, 87, who co-founded La Costa Resort and Spa in Carlsbad, died Thursday of complications from heart disease, according to news reports. He was a longtime resident of Carlsbad. An avid golfer, Roen established the Tournament of Champions at the Desert Inn in the 1950s and moved the event to La Costa after he became manager there in 1967. For more than 20 years the tournament attracted top professional players, including Jack Nicklaus and Lee Trevino. Roen was born May 8, 1921, in Cleveland and graduated from Duke University.
BUSINESS
October 22, 2001 | ANGIE WAGNER, ASSOCIATED PRESS
The city's casino king is at it again. A year and a half after Steve Wynn left the gambling business, he announced last week that he will open Le Reve, a resort he predicts will be unlike any other on the Las Vegas Strip. "People are going to come from everywhere to see it and marvel at it," Wynn said Friday in a speech during the 15th annual World Gaming Congress & Expo at the Venetian hotel-casino. Le Reve means "the dream" in French and is the name of a Pablo Picasso painting Wynn owns.
BUSINESS
August 28, 2001 | From Associated Press
Plans for the historic Desert Inn resort have been formally announced. The proposed property will include a 45-story, 2,455-room, 514-foot-tall golden glass tower and a four-acre lake. "This resort will redefine, once again, the luxurious mega-resort in Las Vegas," wrote DeRuyter Butler, executive vice president of architecture for Butler Ashworth Architects, in a letter to the Clark County planners.
NEWS
August 29, 2000 | From Associated Press
The Desert Inn resort, a Las Vegas Strip icon that opened in 1950, officially closed at 2 p.m. Monday under gray skies and a sprinkling of raindrops, marking the end of one of the Strip's most legendary properties. Howard Hughes bought the resort when management tried to move him out of his penthouse on New Year's Eve to make way for high rollers. The rich and famous teed off on the golf course. Entertainers such as Frank Sinatra played its Crystal Showroom.
SPORTS
July 28, 2000 | SHAV GLICK
Remember when the winner of the Tournament of Champions--now the Mercedes Championships--at Las Vegas' Desert Inn course collected his $10,000 in silver dollars brought in a wheelbarrow? Well, according to Golfweek, the Desert Inn course will soon be ripped up to make way for yet another casino. "This is the end of an era of tournament golf being played on the Las Vegas Strip," said Charlie Baron, tournament director for Desert Inn events.
BUSINESS
April 28, 2000 | Associated Press
Casino mogul Steve Wynn has purchased the Desert Inn hotel-casino, a month after he agreed to sell Mirage Resorts Inc. to rival MGM Grand Inc. "Wynn confirmed [Thursday] afternoon that he is the purchaser of the Desert Inn as a birthday gift for his wife," a spokesman for Wynn said. Wynn also acquired the Desert Inn golf course behind the resort and an adjacent 32-acre parcel.
BUSINESS
December 24, 1991 | From Times Staff and Wire Reports
MGM Grand Completes Desert Inn Transaction: MGM Grand Inc. said it has completed the sale of the Desert Inn Casino/Hotel to Tracinda Corp., a firm controlled by financier Kerk Kerkorian. The $130-million proceeds of the sale will be used in the construction of the MGM Grand Hotel and Theme Park in Las Vegas. The Desert Inn sale was closed shortly after requisite governmental approvals were received, and prior to the originally anticipated closing date.
BUSINESS
May 19, 1999 | Bloomberg News
Sun International Hotels, owner of the Atlantis resort in the Bahamas, agreed to buy Desert Inn from Starwood Hotels & Resorts Worldwide Inc. for $275 million in cash. The purchase would mark Sun International's entry into Las Vegas, the world's largest gambling market. Starwood, the world's largest hotel owner, is selling its major casino resorts to focus on its Sheraton and Westin hotel chains.
BUSINESS
August 4, 1997 | KAREN KAPLAN, TIMES STAFF WRITER
Billionaire real estate investor Marvin Davis agreed Sunday to buy a half interest in Desert Inn Resort & Casino, one of ITT Corp.'s swanky Las Vegas properties. The $200-million deal marks Davis' first foray into casino gambling properties. Los Angeles-based Davis Gaming LLC would form a 50-50 joint venture with ITT, which would continue to operate Desert Inn on the Las Vegas Strip.
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