Monday, October 6, 2008

BREAKING: NY Plaza Wins, Can Use "Plaza" For Strip Resort

The jury's verdict just came down minutes ago. Here's a bit of a press release from Elad Group, which was sued by Tamares, owners of the Plaza Hotel in downtown Vegas.

The jury found that El-Ad has senior trademark rights based on its federal trademark registrations, which gave it the right to use The Plaza mark throughout the United States.

“Our victory is based on the abiding strength of The Plaza brand and we are very pleased by the jury’s decision affirming our rights,” said Miki Naftali, President of El-Ad Group. “Our rights date back more than 100 years; there is certainly no confusion about the highest standards of luxury and elegance we represent. The new Plaza Las Vegas will occupy a magnificent complex in a prime location on the Strip--building on the traditions and heritage of its iconic namesake, the Plaza Hotel in New York.”

The release also says the Plaza property in Vegas is due to open in 2012. I hadn't seen an open date before.

3 comments:

Anonymous said...

i guess the jury doesn't have to debate whether elad will ever build its plaza... which it won't. what a waste of money for all sides.

cinenaut said...

I have to agree with the first comment. Obviously, El-Ad had to defend itself against the suit brought by Tamares to protect its Plaza trademark, but given the current economic climate, I really doubt this property will get built as soon as 2012, or ever.

If I were the betting type, I'd say there's a more than good chance El-Ad ends up selling that property for a loss within the next five years.

-david in seattle

Anonymous said...

There is no way that property is going to open as the Plaza. Either Wynn or Adelson will end up with it probably by buying the debt and taking it from them.