Tamares Wins Motion
Fights to Protect Plaza Hotel & Casino Name
LAS VESGAS, NV, November 21, 2007. Tamares Las Vegas Properties, LLC, the private investment group that owns the historic Plaza Hotel & Casino in Las Vegas, won a legal victory Monday in its bid to protect its Plaza Hotel & Casino name in Las Vegas.
On Aug. 9, Tamares filed a lawsuit in Clark County District Court to prevent unauthorized use of the Plaza Hotel & Casino name in Las Vegas by the Elad Group and others, who are promoting plans for a new hotel-casino in Las Vegas they intend to call the Plaza.
In a decision issued today in Las Vegas, U.S. District Judge Phillip Pro granted a motion by Tamares to remand the case to Clark County District Court for a hearing on Tamares' request for a preliminary injunction.
'This clears the way for a preliminary injunction hearing that we believe will put a stop to the unfair use of the Plaza Hotel & Casino brand in Las Vegas by those who are completely disregarding our legal rights,' said Harry Braunstein, Tamares Group's U.S. general counsel.
'This fight concerns more than dollars and cents. Tamares owns a hotel and casino brand developed over more than 30 years in Las Vegas. The Plaza Hotel & Casino employs over 800 people in Las Vegas, and their livelihood and indeed the very viability of our extremely substantial investment depends on our exclusive use of this name in Las Vegas.'
Braunstein said the company expects Clark County District Judge Elizabeth Gonzalez to grant a preliminary injunction preventing Elad and others from using the Plaza name on any sort of Las Vegas hotel and casino project. He said Tamares should prevail quickly, 'despite what we expect will be continued efforts by Elad and other defendants to delay this day of reckoning.'
Kenneth Landfield, Tamares U.S. Real Estate's chief operating officer, said its defense of the Plaza Hotel & Casino brand is delaying plans to improve a property he called a 'linchpin' to downtown Las Vegas redevelopment. He said this delay stems from highly publicized plans to turn the recently imploded New Frontier on the Las Vegas Strip into a hotel and casino project bearing the Plaza name being developed, he believes, by Elad IDB Las Vegas, a joint venture between New York-based Elad Group and Property & Building Corp., a subsidiary of Israeli-based IDB Holdings Corp.
Tamares Group, headquartered in Vaduz, Lichtenstein, is a privately owned investment company with significant worldwide interests in the real estate, finance, media and leisure sectors. The group has major offices in London, New York and Tel Aviv and is expanding its presence in Las Vegas.
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