Ralph's casino sold

[Greybeard]

The Imperial Palace in Vagas was just sold to Harrah's for $370 million. Might be a little left over for another gift to UND.

[Brent_Bobyck]

Here is the article......

http://www.grandforks.com/mld/grandforks/12454041.htm

[GrahamKracker]

The Imperial Palace in Vagas was just sold to Harrah's for $370 million.  Might be a little left over for another gift to UND.

<{POST_SNAPBACK}>

I heard directly from the horse's mouth (actually, not a horse, but one of the VP's of the University, unofficially of course) that they are talking about acquiring 500,000,000 from the Engelstad's, but that's unoffical, of course. He sounded pretty serious about it, though.

[PCM]

I heard directly from the horse's mouth (actually, not a horse, but one of the VP's of the University, unofficially of course) that they are talking about acquiring 500,000,000 from the Engelstad's, but that's unoffical, of course.  He sounded pretty serious about it, though.

<{POST_SNAPBACK}>

If true, I should get a hefty raise for all the time I've spent defending Ralph.

[Smoggy]

It seems the hotel is one of the few that survived Katrina.

Imperial Palace used by FEMA

[dakotadan]

Hopefully his casino in Las Vegas can also survive. At least for a while. I have been to LV a few times yet somehow never seem to be able to make it to Ralph's Place.

[bincitysioux]

Hopefully his casino in Las Vegas can also survive. At least for a while. I have been to LV a few times yet somehow never seem to be able to make it to Ralph's Place.

You aren't missing much. Pretty out-dated. Pretty much a dive. Awesome car collection though!!

[Diggler]

Hopefully his casino in Las Vegas can also survive. At least for a while. I have been to LV a few times yet somehow never seem to be able to make it to Ralph's Place.

<{POST_SNAPBACK}>

I saw in an article yesterday that it will probably be torn down early in 2006, I believe as it is projected to be a money loser if it remains open.

[PCM]

Hopefully his casino in Las Vegas can also survive. At least for a while. I have been to LV a few times yet somehow never seem to be able to make it to Ralph's Place.

<{POST_SNAPBACK}>

Scroll up. Click on the link. Read the Herald story.

[star2city]

In the Mobile paper today, there was a long article on the state of the Biloxi casino industry in the aftermath of Katrina. Seems the Biloxi Imperial Palace as well as the nearby Beau Rivage are the only two that may be running by year-end as many of the others are non-salvageable. Since the Engelstad Trust had placed this casino on the market earlier with no takers, the devastation to the rest of Biloxi's casino row may now draw some corporate interest to buy the Imperial Palace. Seems Betty may come out ahead on the whole situation, largely due to Ralph locating the hotel on Biloxi Bay, which did not experience the storm surge of Gulf-front properties.

Casino Scramble in Biloxi

There was a flurry of construction, for example, on Thursday at the Imperial Palace.

As heavy equipment worked on the water to repair some external damage to the Imperial Palace boat, president and general manager Jon Lucas spoke about renovations ongoing in the casino's 1,088 hotel rooms, even as about 800 are occupied by Federal Emergency Management Agency employees, casino workers and contractors.

Only a few windows were blown out and the water-damaged furniture is being replaced; new furnishings are also being swapped for non- damaged items which are being offered to employees and other Biloxi residents who lost theirs to the storm.

The Imperial Palace's barge rose with the storm's surge and jostled around a bit, but fell back into place as waters receded -- exactly as everyone had always hoped the structures would react in a storm, said Edward Shambra, Biloxi's executive planner.

Hotel makeover

Inside the barge, most slot machines remained covered with plastic and the carpet was missing, not because it got wet -- large garage doors stayed sealed -- but because the old flooring was pitched in the re modeling. Receiving a complete makeover is the hotel's ground floor, which water flowed through, ruining a spa, cafe and the front desk.

With luck, the Imperial Palace should be open by Christmas, Lucas said.

He declined, however, to talk much about the stance his company -- a family trust that also owns a casino in Las Vegas -- would take in Jackson on Tuesday.

"Obviously we have a position," he said, though it wasn't one he'd share in the newspapers.

Nancy Lewandrowski, the casino's advertising manager, said it's important that Imperial Palace not be the only casino to reopen.

[dakotadan]

Casino Scramble in Biloxi

<{POST_SNAPBACK}>

Very classy move. It looks like the Engelstads were one of the few who didn't lose too much in all of this and are using that fact to help others.

[Driveforshow]

I believe we the fan and UND will never see a dime from the Engelstads family.A nd I can't blame them if they don't, their has been enough negitive things said about Ralph and his past that I feel they just want to wash their hands with the everything. What Ralph did for the fan and UND was a wonderful thing and its sad that people have to report and say things about him in so many negitive ways. Everytime I walk in the ralph with my son to either play hockey or watch hockey I look at what this MAN has done for so many people, so in my eyes this man will always be a HERO to me and my family.

THANKS RALPH & GOD BLESS YOU

[redwing77]

I believe we the fan and UND will never see a dime from the Engelstads family.A nd I can't blame them if they don't, their has been enough negitive things said about Ralph and his past that I feel they just want to wash their hands with the everything. What Ralph did for the fan and UND was a wonderful thing and its sad that people have to report and say things about him in so many negitive ways. Everytime I walk in the ralph with my son to either play hockey or watch hockey I look at what this MAN has done for so many people, so in my eyes this man will always be a HERO  to me and my family.

    THANKS RALPH & GOD BLESS YOU

<{POST_SNAPBACK}>

Actually, there was flak about Ralph before the $100 million dollar donation was finalized and he still made the donation. My impression of him is not one of first person (I've never met him). However, I believe, from what I've heard, that he was a man who really didn't care what other people thought about him or his practices. If Las Vegas is as cut throat in the casino/hotel industry as it seems to be, this would also explain why he was so successful there. I don't think all these editorials and name calling really did much to waver his support at all. So far, UND hasn't detoured from their original stance that got them the $100 million donation in the first place. Now, we'll have to wait and see (should the NCAA ever make a ruling) what happens if they are sanctioned (failed appeal and court case) what they do.

[Driveforshow]

Good point, but I have heard that ralph owns the right to the LOGO that is used at the ralph, if that is the case what happens if UND changes its name but keeps the logo. I beleive its the sioux name that the NCAA has a problem with , do to the fact that UND has no mascot. I feel that the NCAA is going rule against the sioux name ,and its going to go to court where KUPCAKE better fight it hard or its going to have a huge blow on UND and they will lose a ton of financial support.

[redwing77]

Good point, but I have heard that ralph owns the right to the LOGO that is used at the ralph, if that is the case what happens if UND changes its name but keeps the logo. I beleive its the sioux name that the NCAA has a problem with , do to the fact that UND has no mascot. I feel that the NCAA is going rule against the sioux name ,and its going to go to court where KUPCAKE better fight it hard or its going to have a huge blow on UND and they will lose a ton of financial support.

<{POST_SNAPBACK}>

The Sioux name stuff has been beaten to death on the Sioux Name portion of this message board as well as on USCHO and INCH and the Forum and the Herald and MANY MANY places across the nation (There's a blog from some Dartmoth Newspaper debating UND's name). Whether or not the appeal fails or we go to court, Kupchella, for once, will have to be stated that, as of this time, has done a marvelous job with the name issue.

Time will tell, but I doubt the NCAA will make a ruling any time soon.

[star2city]

http://www.sunherald.com/mld/sunherald/13428724.htm - IP to reopen as Biloxi's big player

It’s rather fascinating how the Imperical Palace Biloxi hotel/casino, a property that the Engelstad Trust couldn’t sell at any decent price just a few months ago, is now transformed into Biloxi’s big player, rather than the numerous properties owned by big corporate entities. Although I am not a casino advocate, I can’t help but wonder if what is transpiring is not a demonstration of the “freely give, freely receive” principle that the Engelstad’s embraced. Corporations would pay an extraordinary price now for that property.

The Ralph Engelstad and Betty Engelstad Family Trust, which owns the IP, had committed to invest millions to upgrade the property when Lucas was hired a couple of weeks before Hurricane Katrina hit. Although the IP weathered the storm better than other Coast casinos, the down time after the storm allowed the renovations to occur at a faster pace. Lucas did not disclose the total amount spent by the privately held company on the renovations, but the family trust has lots of capital at its disposal.

When gamblers return to Biloxi for the first casino reopening, they will see familiar faces at the IP. The resort has a core group of veteran employees as well as hundreds of new hires. Total employment is 1,500, about 250 more than before Katrina.

[The Sicatoka]

Based on what I've read, the IP Biloxi is the only "game" in town for about the next year.