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Hilton Hotels separates a casino from hotels.

				
				
				
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   Hilton Hotels separates a casino from hotels.
   Company Hilton Hotels Corp., within last year
Diligently searching to itself of the strategic partner in area
Hotel business, has dared at branch of the non-profitable
Gaming in separate structure. The hotel company,
In which management there are all hotels Hilton in territory
The USA, the word "Hilton" in the name, and here will save for
The separated gaming the name is not found yet. But already
It is declared the first transaction of again formed company. It
Will buy other American operator of a casino - Grand Casinos
-- For $1,2 mlrd (switching on 550$-million debt) and as a result
Becomes the largest American company in this area.
   Under the contract on division for each action Hilton Hotels
Corp. Its shareholders will receive under two actions: one - hotel
The companies, and another - the operator of a casino. Thus in the new
To the gambling company to holders of actions Hilton will get about 86 %,
And shareholders Grand Casinos will receive only 14 %.
   The share market has reacted to re-structuring Hilton and
Merge with Grand Casinos more than frostily: stock quotes
Both companies have spread downwards. The head of new companies Stefen
Bollenbah has been much surprised and disappointed by this fact,
Having explained to its insufficient attention of investors to the gambling
To business. "Now to a gaming there is the same,
What is or five years ago was with hotel, - nobody
Believed in its profitableness, and it sometimes brings to 300 %
Profits ".
   Despite share price falling, Bollenbah it is assured in
Correctness of such course, as alternatives at
The companies, apparently, were not. After unsuccessful last year's
Attempts to buy other American hotel company ITT
Corp., owning a network of hotels Sheraton and casino Caesars, under
Pressure of shareholders Hilton continued firm searches, with which
It would be possible to unite, however has not succeeded in it. Not so
For a long time have ended with a failure and negotiations about merge to the company
Circus Circus Enterprises Inc.
   Present reorganisation of business Hilton means
The further steps on expansion of cooperation and search
Partners for merge. And it in an equal measure concerns as
Hotel, and a gaming. Some observers
Believe, that Hilton (the hotel company) in the near future
Itself becomes object of purchase and sale, and the most real
As the applicant for its purchase is called Ladbroke Group Plc,
Operating a network of hotels Hilton outside of the USA.
   OLGA KUCHEROVA.
//* an information Source: Russian telegraph, 2.07.98
//* Reg. Nom. - 1080700014.47-------------------------------------------