Penske Media Corporation (PMC) is in talks to open a Rolling Stone Hotel and Casino in downtown Las Vegas, sources tell Billboard.
The potential property would open on the site of the Downtown Grand Hotel & Casino, which PMC (owner of Rolling Stone as well as brands including Billboard) is currently in talks to acquire from CIM Group, the sources say. As reported by Vital Vegas, which first reported the news of PMC’s possible acquisition, PMC is just one of several potential buyers for the property; suitors have also included John Unwin’s Corvus Collective, which dropped out after failing to come up with the $30 million in cash needed to complete the purchase.
