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Artist rendering of the new Downtown Grand Hotel & Casino hotel tower... the resort's room count to 1,124, the company said in statement.

who owns the grand casino The Hilton Hotels Corporation is expected to announce on Tuesday that it will split its hotel and gambling operations into separate companies and will merge the gaming company with the Mississippi gambling operations of Grand Casinos Inc.
Hilton shareholders are expected to receive one share in each of the gaming and hotel companies for each share they now own, according to executives close to the situation.
Grand Casinos is expected to spin off its Mississippi operations into a separate company.
The Hilton gaming unit and Grand Casinos' Mississippi spinoff would then merge in a stock-for-stock transaction.
The price will ultimately depend on the value of the stock in Hilton's gaming company and the value of the stock who owns the grand casino Grand Casinos' Mississippi operations and on the ratio in which they are exchanged in the merger.
Hilton executives have said in the past that splitting the companies who owns the grand casino benefit shareholders by freeing the hotel business, which who owns the grand casino doing well and includes prime properties like the Waldorf-Astoria in Manhattan, from the gambling business, which is under pressure because of a glut of hotel rooms in Las Vegas, Nev.
Now, officials and analysts have said, Hilton's stock price is being held back by its association with the gaming business.
Bollenbach, told securities analysts in April in a conference call to discuss earnings.
He said that splitting the Beverly Hills, Calif.
The two read more have little overlap, with Hilton strong in Las Vegas and Atlantic City, while Grand is the largest owner of casinos in Mississippi, with two in the Biloxi area and one in Tunica.
Grand also manages three Indian casinos, but that business will not be going to Hilton.
That business is relatively small for Grand Casinos, and the management contracts will expire by 2001.
Spokesmen for both Hilton and Grand Casinos said today that it was their policy not to comment on speculation.
The deal, if it goes through, would make the third time a charm for Mr.
Bollenbach, who has faltered in two previous attempts at mergers and is under shareholder pressure to achieve some deal.
Yet, Hilton failed last who owns the grand casino in a protracted attempt to buy the ITT Corporation, which owned the Sheraton hotel chain and Caesars casinos.
ITT was taken over instead by Starwood Hotels and Resorts Trust.
This year, merger talks between Hilton and Circus Circus Enterprises broke down.
The companies were negotiating a split of Hilton to be followed by a combination of its gaming business with Circus -- a deal similar to what is expected on Tuesday.
But the talks fell apart who owns the grand casino price and other issues.
Those missteps have slightly tarnished the reputation Mr.
Bollenbach had earned as a savvy deal maker for his major roles in splitting the old Marriott Corporation into two companies, rescuing Donald J.
Trump's troubled empire and engineering the Walt Who owns the grand casino Company's acquisition of ABC.
But the timing of the latest deal could raise some eyebrows.
Tuesday is the deadline for Hilton to enter into a major transaction that would entitle Mr.
Bollenbach to accelerated vesting of his stock options under his employment contract.
But a Hilton spokesman has said that Mr.
Bollenbach voluntarily waived those rights so as to avoid the appearance that he was pushing Hilton into a transaction for his own gain.
Hilton has been wanting to split into two companies but decided it also needed a merger to provide a business purpose that would who owns the grand casino the deal's chances of qualifying https://sellingonthenet.info/the/the-millionaires-club-and-casino-kathmandu.html tax-free status.
In addition, the combination with Grand Casinos would add https://sellingonthenet.info/the/the-great-american-casino-tukwila.html heft to the gaming company, although Hilton by itself is already among the world's largest gambling companies.
It is expected that Arthur M.
Goldberg, the head of Hilton's gaming operations, will be chief executive of the combined gaming company.
Bollenbach will remain chief executive of the hotel company, but is also expected to be chairman of the gaming company.
Shares of Grand Casinos slipped 6.
There was an extraordinarily high volume of trading in Grand Casinos Inc.
Grand Casinos has grown quickly from a start-up running one Indian casino in 1991.
Most of the revenue came from its three Mississippi casinos.
But Grand Casinos stumbled badly in its investment in holdem rules video Stratosphere hotel in Las Vegas, which filed for bankruptcy protection.
Grand Casinos wrote off its entire investment.
Its contracts to manage Indian casinos, which will be the main business of the company that is not spun off to merge with Hilton, are set to expire by 2001.
Of more concern to Hilton is that next year Mirage Resorts, generally considered the builder of the nation's most spectacular casinos, will open a major resort near Grand Casinos' operations in Biloxi and Gulfport.
That could draw business away from Grand Casinos, although it could also attract more gamblers to the area and actually help Grand Casinos.
Some analysts have speculated that once Hilton's hotel operations are who owns the grand casino from its gaming business, it could be an acquisition candidate or make an acquisition on its own.
Hilton has had some discussions with Ladbroke Group P.

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