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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.”

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..