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PBL enters Las Vegas deal31 May 2007AUSTRALIA -- As reported by the Australian News.com: "Publishing and Broadcasting Ltd (PBL) says it has entered into an agreement to form a joint venture to develop, construct and operate a new casino in Las Vegas. PBL has entered the deal with IDM Properties, a Texas-based property developer, and York Capital Management, a New York-based private investment. "PBL said it had paid $US22.5 million ($27.37 million) for a 37.5 per cent stake in the joint venture company LVTI LLC. "The new casino will be named Crown Las Vegas and will be situated immediately next door to the Fontainebleau Casino and Resort, in which PBL recently bought a 20 per cent stake..." |