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El-Ad Settles Frontier Hotel Suit With LV Broker, Reports Resort Properties Of America

Plaza Name Fight Goes To Court

The multimillion dollar brokerage lawsuit over the 2007 sale of the $1.24 Billion Las Vegas Strip Frontier Hotel has been settled. Resort Properties of America President David Atwell, who claimed a one percent fee for initiating the sale said, "After months of depositions and legal maneuvers, we settled the suit amicably, and I wish them well."

The case was settled for an undisclosed amount, one day before a related lawsuit over the actual Plaza Hotel name goes to court in Las Vegas. The 30-year-old Plaza is a 1000-room downtown Las Vegas landmark, owned by billionaire businessman Poju Zabludowicz.

The new Strip Plaza mega hotel project slated for the 35 acre former Frontier Hotel site, next to Wynn Las Vegas, has been delayed until 2009, according to El-Ad's President Miki Naftali.

The sale set a brokerage record, as the highest price per-acre ever paid for a Las Vegas Strip property.

Atwell, a 30-year accomplished resort property specialist, set a similar brokerage record in 1988 with the sale of the 168-acre former Dunes Hotel and Country Club, now the site of the Bellagio and MGM's new project, City Center, and he has represented such name clientele as Hilton Hotels, Steve Wynn, Bank of America, and Sheldon Adelson.

To learn more, contact Ron Hurst of Resort Properties of America at 702-241-6558.
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   Mr. RON HURST
   ACCOUNT EXECUTIVE
   RESORT PROPERTIES OF AMERICA
   LAS VEGAS,    NV,    89117
   USA
   702-241-6558 (phone)
   702-363-8815 (fax)
   RON@RPALASVEGAS.COM