WWF Entertainment Inc. reports it has sold its WWF Hotel andCasino at 305 Convention Center Dr. for $11.2 million to ConventionCenter Drive LLC., an affiliate company of Mark IV Realty GroupInc. of Chicago. The WWF had purchased the 200-room, 12-story sffacility in August 1998 in an auction.
The hotel was previously owned by entertainer/movie star DebbieReynolds who had operated the hotel/casino as the Debbie ReynoldsHotel and Casino but could not bring the facility to profitability.The WWF, shortly after acquiring the property, announced it woulddevelop a $100-million wrestling-themed entertainment/casinocomplex at the property.
WWF officials estimate the Stamford-based company will record aprofit of approximately $1 million on the sale of the hotel.According to Judd Everhart, a WWF spokesman, the sales transactionclosed last week.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
