Gaming Authorities in Nevada, New Jersey Approve Columbia Entertainment Acquisition of Aztar Corporation
02 November 2006 - 11:03PM
Business Wire
Columbia Entertainment said today that it has obtained regulatory
approvals from gaming authorities in Nevada and New Jersey that
will help to clear the way for the company�s planned acquisition of
Aztar Corporation (NYSE:AZR). On Wednesday, the Nevada Gaming
Control Board approved the acquisition and, in line with the
state�s approval process, will recommend that the Nevada Gaming
Commission do the same at its regular monthly meeting on November
16. Earlier today, the New Jersey Casino Control Commission granted
Columbia Interim Casino Authorization to acquire Aztar�s Tropicana
Casino and Resort in Atlantic City and operate the casino pending
final licensing approval. Columbia Entertainment hopes to complete
the Aztar acquisition later this month or early in December pending
approvals by gaming regulators in the other states where Columbia
will be operating casino properties following the acquisition,
including Indiana and Louisiana. Once the Aztar acquisition is
completed, Columbia will assume ownership and operating control of
Aztar�s properties in Atlantic City; Las Vegas and Laughlin, NV;
and Evansville, Indiana. The Indiana Commission is scheduled to
review Columbia�s petition on November 9 and the Louisiana
Commission is expected to review the company�s acquisition
financing package for approval on November 21. About Columbia
Entertainment Columbia Entertainment is the gaming affiliate of
Columbia Sussex Corporation, one of the largest privately held
owners, developers and operators of hotel properties and casinos in
the world. Columbia Sussex is the largest licensee of full-service
Marriott Hotels in the U.S., and the Company and its affiliates own
a total of 81 hotels and 8 casinos with approximately 27,000 rooms,
including Marriott, Hilton, Westin, Sheraton, Renaissance and
Doubletree branded properties across the United States, Canada and
the Caribbean. Founded in 1972, the Company is led by William J.
Yung III and owned by Mr. Yung and the Yung family. Columbia Sussex
Corporation and Columbia Entertainment are headquartered in Fort
Mitchell, Kentucky and have more than 18,000 employees worldwide.
Columbia Entertainment said today that it has obtained regulatory
approvals from gaming authorities in Nevada and New Jersey that
will help to clear the way for the company's planned acquisition of
Aztar Corporation (NYSE:AZR). On Wednesday, the Nevada Gaming
Control Board approved the acquisition and, in line with the
state's approval process, will recommend that the Nevada Gaming
Commission do the same at its regular monthly meeting on November
16. Earlier today, the New Jersey Casino Control Commission granted
Columbia Interim Casino Authorization to acquire Aztar's Tropicana
Casino and Resort in Atlantic City and operate the casino pending
final licensing approval. Columbia Entertainment hopes to complete
the Aztar acquisition later this month or early in December pending
approvals by gaming regulators in the other states where Columbia
will be operating casino properties following the acquisition,
including Indiana and Louisiana. Once the Aztar acquisition is
completed, Columbia will assume ownership and operating control of
Aztar's properties in Atlantic City; Las Vegas and Laughlin, NV;
and Evansville, Indiana. The Indiana Commission is scheduled to
review Columbia's petition on November 9 and the Louisiana
Commission is expected to review the company's acquisition
financing package for approval on November 21. About Columbia
Entertainment Columbia Entertainment is the gaming affiliate of
Columbia Sussex Corporation, one of the largest privately held
owners, developers and operators of hotel properties and casinos in
the world. Columbia Sussex is the largest licensee of full-service
Marriott Hotels in the U.S., and the Company and its affiliates own
a total of 81 hotels and 8 casinos with approximately 27,000 rooms,
including Marriott, Hilton, Westin, Sheraton, Renaissance and
Doubletree branded properties across the United States, Canada and
the Caribbean. Founded in 1972, the Company is led by William J.
Yung III and owned by Mr. Yung and the Yung family. Columbia Sussex
Corporation and Columbia Entertainment are headquartered in Fort
Mitchell, Kentucky and have more than 18,000 employees worldwide.
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