Jury clears way for New York Plaza in Las Vegas: report (Reuters)
2008.10.07 -
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13 minutes ago
(Reuters) - A jury ruled on Monday that the owners of New York's Plaza Hotel could use the Plaza name on a proposed $5 billion resort-casino on the Las Vegas Strip, despite the existence nearby of another Plaza Hotel and Casino, the New York Times said in a report on its Web site.
The Tamares Group, which owns the low-budget 37-year-old Plaza in Las Vegas, filed the case against Israel's Elad Group, which owns the famed New York hotel, the paper said.
During the trial, lawyers for Elad said the Tamares property had gone by several names, including the Union Plaza and Jackie Gaughan's Plaza Downtown, according to the paper.
The jury agreed that the existing Plaza had not adequately protected its trademark, the paper said.
Elad bought 36 acres on the Las Vegas Strip last year for $33 million an acre and plans to build a $5 billion, seven-tower, 6,700-unit hotel-casino version of the Plaza in New York, according to the paper.
Elad and Tamares could not be immediately reached for comment by Reuters.
(Reporting by Ajay Kamalakaran in Bangalore)
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