“The families are targeting a closing of the transaction by year-end, subject to the satisfaction of customary closing conditions and approval of the NBA Board of Governors,” said a statement released by the Adelson and Dumont families.
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According to the SEC filing, Dr. Miriam Adelson is buying a majority interest in the NBA team, which is owned by billionaire Mark Cuban.
Just hours after the Nov. 18 Grand Prix concluded, MGM said it would move swiftly to get the area in front of its properties back to normal before Christmas.
The Formula One race was expected to generate $1.2 billion in economic impact. But some small businesses near the Strip say they didn’t see much of a benefit.
Formula One operators say the two-day sale at The Venetian is “a token of appreciation” for what local residents showed through last week’s four-day event.
As the Strip got back to its usual bumper-to-bumper traffic, resort executives said Formula One’s Las Vegas Grand Prix went better than they had hoped.
MGM exec Andrew Lanzino says of Bellagio Fountain Club, “We wanted it to and live up to the Bellagio namesake, knowing all of this has to disappear and go back to normal.”
Hotel room rates on the Strip are some of the lowest they’ve been for last-minute travelers to the Formula One Las Vegas Grand Prix.
TSA officials expect over 98,000 people at Harry Reid International Airport on Sunday and 94,000 on Monday following the Formula One Las Vegas Grand Prix.
The head of Formula One’s parent company issued an apology to Las Vegas residents for the months of road work needed to prepare the Las Vegas Grand Prix circuit.