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BET Hotel/Casino on Tap

WASHINGTON-- BET Holdings Inc., the parent company of Black Entertainment Television (BET), and Hilton Hotels Corp. have announced a joint venture to explore the feasibility of acquiring land to build, develop and operate a gaming facility and related hotel and recreational facilities in Las Vegas, called the "BET SoundStage Casino.''

The BET SoundStage Casino will be targeted toward serving the more than 2.2 million African-American visitors who frequent the nation's top city for gaming every year.

Although the terms of the deal are still in their initial stages of development, it is anticipated that BET will provide its entertainment services and marketing expertise to the venture. Hilton will manage the gaming activities and the other general operations of the hotel and recreational facilities.

"The gaming industry is one of the fastest growing segments of the entertainment business,'' said Robert L. Johnson, chairman and chief executive officer for BET Holdings. "We believe that BET's brand, its experience in the entertainment business and ability to target the black consumer marketplace, provide a unique opportunity for BET to become a significant player in this exciting industry.''

Hilton Hotels President and CEO Stephen F. Bollenbach said: "I am happy to announce our new venture with BET, the nation's leading entity in providing quality entertainment and information to the African-American public".

Black Entertainment Television (BET) is the nation's first and only national television network providing a platform for quality programming targeted toward an African-American audience. BET represents the best in entertainment, music videos, news, public affairs, jazz, specials, off-network sitcoms, gospel and college sports.

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