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BUSINESS
February 2, 1993 | CHRIS WOODYARD and PAUL LIEBERMAN, TIMES STAFF WRITERS
A Las Vegas casino operator said Monday that it has signed an agreement with a Newport Beach company to build a casino on Indian land near Palm Springs. Elsinore Corp., which operates the Four Queens Casino in downtown Las Vegas, will own 85% of the venture in conjunction with the Native American Casino Corp., a group of about two dozen investors in Newport Beach. The casino would be on 55 acres of the Twenty-nine Palms tribal reservation at Interstate 10 and California 60.
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BUSINESS
August 25, 1985 | TOM FURLONG
Robert R. Maxey has resigned suddenly as chief executive of money-losing Elsinore Corp., the Las Vegas-based casino company that operates gambling hotels in Nevada and Atlantic City, N.J. A terse announcement Friday said the board "has accepted" Maxey's resignation effective Oct. 31. He also resigned as a director. Maxey, 48, was not available for comment. An Elsinore spokeswoman said Maxey's departure was voluntary. "He quit," she said. "I think the board is as upset as the rest of us."
BUSINESS
February 2, 1993 | CHRIS WOODYARD and PAUL LIEBERMAN, TIMES STAFF WRITERS
A Las Vegas casino operator said Monday that it has signed an agreement with a Newport Beach company to build a casino on Indian land near Palm Springs. Elsinore Corp., which operates the Four Queens Casino in downtown Las Vegas, will own 85% of the venture in conjunction with the Native American Casino Corp., a group of about two dozen investors in Newport Beach. The casino would be on 55 acres of the Twenty-nine Palms tribal reservation at Interstate 10 and California 60.
BUSINESS
October 2, 1985
The gambling concern said its Atlantic hotel-casino in Atlantic City, N.J., continues to have "deteriorating market share and increasing cash flow difficulties," and the company is negotiating to restructure its public and private debt. As a result, it said, interest on public debt may not be paid Nov. 1 when due. The firm, which said its Nevada operations remain profitable, also reported that Jay A. Pritzker resigned as a director.
BUSINESS
November 14, 1985
Chicago-based Playboy said it seeks to force Elsub Corp.--a subsidiary of Elsinore Corp., which owns the financially troubled Atlantis casino (formerly the Playboy) in Atlantic City, N.J.--into involuntary bankruptcy. The suit was filed in U.S. District Court in New Jersey. Christie Hefner, Playboy's president and chief operating officer, said the suit was filed "to preserve (Playboy's) rights and our claim to the assets of Elsinore and its affiliates." Playboy sold its 45.
BUSINESS
January 29, 1986
Chicago-based Playboy Enterprises reported a second-quarter net loss of $40.7 million, almost all of it attributed to its discontinued operations in a troubled Atlantic City, N.J., gambling hall. In the same quarter of the previous fiscal year, the company reported a $4.3-million net profit. A Chapter 11 bankruptcy proceeding filed in November by a subsidiary of Las Vegas-based Elsinore Corp.
BUSINESS
November 16, 1985 | Associated Press
Elsinore's Atlantis Casino Hotel has become the first gaming hall in this resort to seek protection from creditors under federal bankruptcy laws, but an analyst said Friday that the action may not be enough to save the casino. Elsinore Corp. officials said in a statement that their Chapter 11 petition, filed in U.S. Bankruptcy Court in Camden, N.J., was precipitated by Playboy Enterprises filing an involuntary bankruptcy petition against an Elsinore subsidiary, Elsub Inc., earlier this week.
BUSINESS
May 2, 1986 | AL DELUGACH, Times Staff Writer
After a lingering economic illness, the Playboy Club era in the biggest U.S. cities--including Los Angeles--was pronounced dead Thursday by founder Hugh Hefner's corporate empire. The Los Angeles Playboy Club in Century City will be shuttered as of June 30, along with Playboy's two other remaining owned-and-operated clubs in New York and Chicago. The Los Angeles club started in 1965 on the Sunset Strip and later moved to the present site.
BUSINESS
October 2, 1985
The gambling concern said its Atlantic hotel-casino in Atlantic City, N.J., continues to have "deteriorating market share and increasing cash flow difficulties," and the company is negotiating to restructure its public and private debt. As a result, it said, interest on public debt may not be paid Nov. 1 when due. The firm, which said its Nevada operations remain profitable, also reported that Jay A. Pritzker resigned as a director.
BUSINESS
August 25, 1985 | TOM FURLONG
Robert R. Maxey has resigned suddenly as chief executive of money-losing Elsinore Corp., the Las Vegas-based casino company that operates gambling hotels in Nevada and Atlantic City, N.J. A terse announcement Friday said the board "has accepted" Maxey's resignation effective Oct. 31. He also resigned as a director. Maxey, 48, was not available for comment. An Elsinore spokeswoman said Maxey's departure was voluntary. "He quit," she said. "I think the board is as upset as the rest of us."
BUSINESS
May 18, 1987 | Associated Press
Place your bets and guess which of the nation's casino operators will still be independent in 1990. Takeover fever has hit the gaming industry, with several casinos acquired by competitors in recent months. Two other major casino operators currently face takeover threats. And some analysts say the consolidation trend is an odds-on favorite to continue over the next two years.
NEWS
April 5, 1995 | TOM GORMAN, TIMES STAFF WRITER
The much ballyhooed partnership between gambling giant Caesars World and the Agua Caliente Indians to build a $25-million casino here has been terminated, both sides announced Tuesday. The dissolution was amicable and was prompted by various lawsuits that clouded the project, along with the partnership's delay in winning the blessing of the National Indian Gaming Commission, said Tribal Chairman Richard Milanovich.
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