This book features the design details of the largest and most innovative examples from such cutting-edge firms as Archi-Tectonics, ARO, Escher GuneWardena, and Office dA, among others. Its pages offer ...
‘Stalking Horse’ bid sets up auction
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Penn National Gaming Inc. has made a $50 million “stalking horse” bid to buy the stalled Fontainebleau casino-resort in Las Vegas, with plans to spend another $1.46 billion to complete the project, the Las Vegas Sun reports. Penn's offer, filed in Miami's bankruptcy court, sets in place an auction process in which other investors will have an opportunity to bid for the partially completed property on the Strip.
Approval of the Penn deal is not a sure thing, the Sun notes, as Penn in the contract disclaims liabilities for Fontainebleau's existing bank loans, bondholder debt and contractors liens. A group of contractors, believed to be owed $350 million to $400 million, has said it's looking for investors and partners to team up with in acquiring the project so its members' liens can be paid.
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