But O'Reilly said he wasn't prepared to talk about the troubled deal and didn't know when he would. Casino industry lawyer Bob Faiss introduced Roski at the two-day conference for institutional investors, and referred to many of the developer's business accomplishments, holdings and dealings. He's a part owner of the Los Angeles Lakers and Kings sports franchises, and he developed the Staples Center sports complex in the city's downtown. Roski spoke of the importance of trust for the Las Vegas business community, an apparent backhanded swipe at Park Place. Sources say Roski decided to break off the deal after becoming convinced that Park Place had damaged the property's earnings potential by sending the Hilton's traditional high-end business to Caesars Palace and the company's other Strip casinos.
Good business is all about trust.
You trust the slot machines. Park Place executives admit they sent high-end gamblers elsewhere, but deny they broke their sales agreement with Roski. Roski said the city's favorable legal and regulatory environment, and the synergy of the clustered resorts are pluses for the city. The need to diversify casino management, distinguish resorts from each other, compete against other gaming venues and diversify Nevada's economy are Las Vegas' most important challenges. The world's largest casino operator said Roski's failure to make the payment requires him to complete the purchase by Saturday, although Park Place Executive Vice President Mark Dodson said Tuesday that because the deadline is a Saturday, the company considers the deadline to be the following business day, or Monday at 5 p.m.