[BBMW]

More than that. At one time the Hilton corporation owned all those casinos. But as is the way of corporate America, they spun those off into a separate company (Park Place, as you mentioned), and took it public. That eventually got swallowed up by Harrah's.

As some point the LV Hilton got sold off. I forgot if that was before or after the Harrah's buyout. The didn't think it could compete with the major strip properties.

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There are a number of hotels that are not actually owned by Hilton that are marketed as Hiltons. Colony Capital has to pay a fee to Hilton for the use of the name as well as the use of their reservation systems. The Atlantic City Hilton is also operated under a similar system.

A few years ago, Park Place owned Caesar's, Paris, Bally's, Flamingo and the Hilton. They had a marketing deal with Hilton for all of those properties, which was cool because I've got high status with Hilton and used to get comped to suites at Paris every time I stayed there. They sold the Hilton to the current owners and ended their deal with Hilton for the other properties at about the same time (2003). No one knows if Colony will extend the deal with Hilton when it expires, but the rumor is that they will.

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