Crowne Ventures Inc. announces planned acquisition of the Continental Hotel & Casino.LAS VEGAS--(BUSINESS WIRE)--Sept. 25, 1996--Crowne Ventures Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CWOV), parent company of the Las Vegas-based "Back To The 50's" catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. sales business featuring 1950s, '60s and '70s memorabilia, Wednesday announced that the company has executed an "Asset Purchase Agreement" to acquire the Continental Hotel & Casino. Terms of the agreement were not disclosed; however, Rob Robinson Rob Robinson (born April 19, 1967 in St. Catherlines, Ontario) is a retired professional ice hockey player who played 22 games in the National Hockey League. He played with the St. Louis Blues. References
The company's management stated that upon closing the transaction that Crowne intends to create a nostalgia-themed resort around their wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. "Back To The 50's." Robert A. Maheu, chairman of the board of Crowne Ventures, the individual instrumental in the acquisition by Howard Hughes & The Hughes Tool Co. of seven hotels/casinos in Nevada, stated, "The Continental Hotel & Casino, located on one of the busiest intersections in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , is a diamond in the rough." The Continental's ten-acre site, located a few blocks off the famous "Las Vegas Strip The Las Vegas Strip (also known as The Strip) is a 4 mi (6.7 km) section of Las Vegas Boulevard South, most of which has been designated an All-American Road. ," one block from the Hard Rock Hotel & Casino, and diagonally across from the Howard Hughes Center, (the central financial district of Las Vegas), and five blocks from the Las Vegas Convention Center The Las Vegas Convention Center is owned and operated by the Las Vegas Convention and Visitors Authority and is located in Clark County, Nevada. It is one of the largest Convention centers in the world. At the end of 2004, the center had 3. , provides a prime opportunity for continued expansion and increased future revenue generation. The Continental Hotel & Casino currently has approximately 400 rooms and more than 40,000 square feet of casino space. Jeff Cruden, president of Crowne Development, a wholly owned subsidiary of Crowne Ventures, the general contractor A general contractor is an organization or individual that contracts with another organization or individual (the owner) for the construction of a building, road or any other execution of work or facility. responsible for the planned expansion, stated that "the architectural plans, which will soon be unveiled, will reflect the visually exciting and fun aspects of the `Back To The 50's' era." Hank Cartwright, founder of "Back To The 50's," (http://www.backtothe50s.com), with previous credits including Major Video, which merged with Blockbuster Video, and a director of Crowne, stated that "the Continental acquisition, combined with the memorabilia catalog sales is another move in the company's strategic plan to establish its presence as a major retailer of `Back To The 50's' unique line of '50s, '60s and '70s memorabilia." CONTACT: Crowne Ventures Inc., Las Vegas Todd Ream, 702/731-6300 E-mail: crowne@skylink.net |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion