Roski Files Suit Over Las Vegas Casino Deal

Los Angeles developer Ed Roski Jr. filed a lawsuit accusing Park Place Entertainment Corp. of bad faith after the casino operator said that Roski had failed to complete the purchase of its Las Vegas Hilton property. Roski agreed in July to buy the Las Vegas Hilton for $365 million. But Park Place Entertainment said it has halted efforts to sell the hotel-casino and “intends to pursue its legal remedies” because Roski missed a Saturday deadline to complete the acquisition. Roski, in his lawsuit filed in Nevada, charged Park Place with failing to properly operate the hotel after the deal was announced. As a result, the hotel’s earnings and value have suffered and prevented Roski from securing loans to complete the deal, the suit alleged. Park Place shares rose 31 cents to close at $10.31 on the New York Stock Exchange.