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Baffling: Reno Hilton's Purchasers Grand Sierra Resort Taken Over By DTLL Who is Then Bought Out By Another Company

By Chuckmonster on Sunday, 5th March 2006 1:14am
  » filed under Las Vegas  comments: 0

   

This is one of the more convoluted strains of casino takeovers ever witnessed. The Reno Hilton is currently in process of being bought from Harrah's and renovated by Grand Sierra Resort Corporation. A few days ago, one of Grand Sierra's largest shareholders Angela Whichard Inc. (AWI) sold their 51% stake in the company to DTLL, Inc. who (after a ton of inconclusive Googling) may be DTLI, a pharmaceutical manufacturer. Not but a day later, 70% of DTLI was acquired by an investment group made up of Dual Cooper, Island Residences Club, and Richard Woods.

Huh?

For those who care: here's a flow chart:
Reno Hilton (Harrahs) ->
- Reno Hilton / Grand Sierra Resort (Grand Sierra Resorts) ->
- - 51% of Grand Sierra Sold to DTLL Inc. ->
- - -70% of DTLL, Inc Sold to Dual Cooper/Island Residences and Richard Woods


Link goes to the super confusing press release.



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