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Graceland Hotel On Hold

June 01, 2009 | Other

Robber Sillerman, the man behind the company that hold the rights to Elvis Presley appears to have some financial problems. The Vegas project is in default. Plans for a new hotel and convention center at Graceland, Elvis’s Tennessee home, are on hold. FX Real Estate fell to pennies a share in April from its February 2008 peak of $7.88 and was delisted from the Nasdaq stock exchange.

Priscilla Presley, Elvis’s wife from 1967 to 1973, says the economy, not Sillerman, is to blame. “I have a lot of confidence in Bob,” she says. “When the timing is right, I’m sure all this will come back on the boards.”

Source:Google
Wiebe wrote on June 02, 2009
Memphis does not need another convention center. The Pyramid is empty most of the time, so is the Mid-South Coliseum. Because of poor local politics all action is moving to Tunica, Miss.
Brian Quinn wrote on June 02, 2009
The first line of this article should read: "Robert Sillerman, the man behind the company that holds the right to Elvis Presley..