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Buyer Confident Aladdin Deal will Close

LAS VEGAS -- The leader of the acquisition company that plans to take possession of the Aladdin hotel-casino later this year says he's confident the deal will close as planned.

Robert Earl, chief executive of the Planet Hollywood restaurant chain and the leader of a partnership that intends to turn the Aladdin into the Planet Hollywood hotel-casino, said he expects the deal to close this summer.

"I am absolutely confident we're going to close this deal," Earl said from his Orlando, Fla., headquarters.

Earlier this week, Gaming Control Board Chairman Dennis Neilander said investigators had not completed their review of the partnership's licensing application.

Industry insiders expect Earl's group to face regulators in July or August. Nevada regulators are believed to have extended their background investigations to a wider circle of insiders at Starwood Hotels & Resorts, one of Earl's partners.

Starwood has a team of about 20 people working closely with Mike Mecca, who has been selected to be general manager of the property when it's turned over to Earl's group. Although the group is larger, insiders say there are no significant obstacles that would block the licensing effort.

Copyright © Las Vegas Sun. Inc. Republished with permission.

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