Las Vegas Hilton will take on new moniker today
With a new year, comes a new name for an historic Las Vegas hotel.
The LVH-Las Vegas Hotel & Casino officially opened for business today, replacing the Las Vegas Hilton.
The changeover began last month with removal of the gigantic Las Vegas Hilton sign out front. No word yet on its fate.
The hotel, which is owned by Los Angeles billionaire Thomas Barrack's Colony Capital LLC, lost the Hilton franchise as of Saturday .
Neither Hilton Worldwide nor Colony Capital would comment on the specific reasons for terminating an eight-year business relationship.
The 2,950-room hotel on Paradise Road has been at the center of a court and regulatory battle between Colony and its lenders, Goldman Sachs Mortgage Co. and Gramercy Capital Corp.
On Dec. 14, the Nevada Gaming Commission voted 3-1 to allow the hotel's lenders and investors to pursue appointment of a receiver for the property's casino while the legal battle plays out in court.
The commission approved Ronald Johnson as receiver to operate the casino under an existing gaming license held by Colony Capital.
The property has been foreclosed upon by Goldman Sachs and Gramercy Capital.
