Potential New Operator of Hollywood Park Casino Issues Statement to Clarify Misinformation in News Reports

Tue Feb 5, 2013 10:00pm EST

* Reuters is not responsible for the content in this press release.

http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130206:nBw057082a

INGLEWOOD, Calif.--(Business Wire)--
LAX Property, the potential new operator of the Hollywood Park Casino, released
the following statement in response to media reports that have conveyed
inaccurate information. The following statement is from Eric Swallow, chief
executive officer of LAX Property: 

"Our company is in the process of securing the necessary approvals to become the
next operator of the Hollywood Park Casino. We are waiting for our license
approval from the State, and are seeking approval from the City of Inglewood to
move forward with a significant and long overdue revitalization of the Hollywood
Park Casino. 

"As part of the transition process, the current operator was required by law to
issue a Warren Act notice to current employees notifying them of the change in
ownership. To be clear, we are planning to retain many of the employees
currently working at the casino, and increasing the number of local Inglewood
residents employed at the facility. 

"Today, fewer than eight percent of the current workforce at Hollywood Park
Casino is from Inglewood. We think we can do significantly better than that, and
if approved, we look forward to employing as many people as possible from the
local community. 

"We are planning to continue the casino`s union contract for employees providing
maintenance and cleaning functions. We have held many constructive meetings with
UNITE Hotel Employees and Restaurant Employees (HERE) Local 11, and have made
clear that we plan on assuming the union contract that is in place, and will
work diligently on how best to continue that relationship moving forward. 

"Finally, a revitalized casino at Hollywood Park has the potential to become a
significant engine for job growth and economic development in the City of
Inglewood for years to come."

For LAX Property
Emily Heidt, (310) 974-6682 

Copyright Business Wire 2013