Crowne closes escrow on the Continental Hotel & Casino.LAS VEGAS--(BUSINESS WIRE)--Oct. 24, 1996--Crowne Ventures Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CWOV) and Robert A. Maheu, chairman of the board, are pleased to announce Thursday that they have closed escrow on the Continental Hotel and Casino and that Crowne Ventures is now the recorded owner of the property located at Flamingo & Paradise Roads 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. . The company will apply to license and rename the Continental to use the name ``Back to the '50s'' Hotel & Casino and intends to start Phase 1 of the remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling of the hotel and casino with the renovation of the casino area. Phase 1 is the first of several phases that will be unveiled within the next few months. Crowne Development, a licensed 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. and a 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. of Crowne Ventures, will be responsible for the planned expansion of the hotel and casino. The architectural plans, which will soon be unveiled, will reflect the visually exciting and fun aspects of the ``Back to the '50s'' era. CONTACT: Crowne Ventures Inc., Las Vegas Todd Ream, 702/731-6300 crowne@skylink.net |
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