JERUSALEM Jan 6 The heads of a group seeking to
build a multi-billion-dollar casino on the Las Vegas strip are
turning to billionaire Sheldon Adelson for financial help,
Israel's TheMarker financial news website said on Tuesday.
Israeli businessmen Yitzhak Tshuva and Nochi Dankner plan to
ask Adelson to become a partner in their project, it said.
A spokeswoman for Dankner's IDB Development IDBD.TA said
Dankner and Tshuva are in New York to meet bankers for the
project but she could not immediately confirm whether they would
meet Adelson, chief executive of Las Vegas Sands Corp (LVS.N),
which has lost more than 90 percent of its market value.
Tshuva's company Elad owns the New York Plaza Hotel and
plans to use the Plaza name on the proposed $5 billion resort
casino in Las Vegas.
Elad teamed up with IDB to form Elad IDB Las Vegas LCC, the
group which purchased the site to build the hotel.
Elad IDB in 2007 bought the now demolished New Frontier
Resort & Casino for $1.25 billion, taking out a loan of $625
million from Goldman Sachs (GS.N) and Credit Suisse CSGN.VX.
The company, which received a postponement for repayment of
the loan, is seeking to change the terms and a further
Elad IDB has said it intends to continue with the planning
work for the project and to begin building after it receives
financing for construction.
(Reporting by Steven Scheer; editing by John Stonestreet)