Tuesday, Aug. 27, 1996 | 11:59 a.m.
Seven Circle Resorts said it has completed the purchase of 54.4 acres in Summerlin in anticipation of building a $200 million golf-and-gaming resort there.
The company, a U.S. subsidiary of Tivolino Holding AG of Switzerland, said it paid Howard Hughes Corp. $16.6 million for the parcel just southwest of Rampart Boulevard and Summerlin Parkway.
It also paid $600,000 for an option to purchase an adjacent 22 acres, a spokesman said.
Last month, Seven Circle announced plans to build a 300-room hotel and casino at the site located amidst three golf courses. The resort will cater to golf enthusiasts from around the world, as well as to Summerlin residents.
Seven Circle's parent company, Tivolino, operates three gaming facilities in the United States and several more in Switzerland.