A Hee Haw Play In Vegas

October 31, 1994 at 5:00 AM UTC

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In the booming gaming world, Las Vegas Entertainment Network has been a big bust, with its stock hitting 11/16 on Oct. 17, down from 8 last year. But some pros have scooped up shares lately--to enjoy what "we expect will be a nice ride up, finally, through the next couple of years," says Chris Helton, who heads the equity department at BankAmerica. He thinks plans to renovate the company's 20-acres on the Las Vegas strip will soon get off the ground. The hotel, formerly the El Rancho Hotel & Casino, has 800 guest rooms and a 52-lane bowling alley.

Part of the problem stemmed from delays in putting up a new building--to be shaped like two 40-story cowboy boots and named Countryland usa Hotel & Casino. The holdup was caused by lack of financing. But now, a Dallas investment bank has committed $35 million for construction, followed by a further $150 million.