Del E. Webb Corp. offered to buy...

Del E. Webb Corp. offered to buy back three Nevada hotel-casinos that it sold to a limited partnership in 1984 and operated under a lease-back arrangement. The partnership, in debt for about $68 million and threatened with bankruptcy, owns the Mint in Las Vegas, Del Webb’s Nevada Club in Laughlin and the High Sierra in Lake Tahoe. Phoenix-based Webb put the price at about $9 million. Although investors paid more than double that amount for the 225 limited partnership interests, Nevada authorities were told, their tax advantages made it nearly a break-even situation.