User:Stephenfisher2001/sandbox/Landmark Hotel

Landmark Hotel and Casino is a hotel and casino located in Paradise, Nevada, east of the Las Vegas Strip and across from the Las Vegas Convention Center. The resort included a 31-floor tower, inspired by the design of the Space Needle tower in Seattle. Frank Caroll, the project's original owner, purchased the property in 1961. Fremont Construction began work on the tower that September, while Caroll opened the adjacent Landmark Plaza shopping center and Landmark Apartments by the end of the year. The tower's completion was expected for early 1963, but because of a lack of financing, construction was stopped in 1962, with the resort approximately 80 percent complete. Up to 1969, the topped-off tower was the tallest building in Nevada until the completion of the International Hotel across the street.

In 1966, the Central Teamsters Pension Fund provided a $5.5 million construction loan to finish the project, with ownership transferred to a group of investors that included Caroll and his wife. The Landmark's completion and opening was delayed several more times. In April 1968, Caroll withdrew his request for a gaming license after he was charged with assault and battery against the project's interior designer. The Landmark was put up for sale that month. Billionaire Howard Hughes, through Hughes Tool Company, purchased the Landmark in 1969 at a cost of $17.3 million. Hughes spent approximately $3 million to add his own touches to the resort before opening it on July 1, 1969, with 400 slot machines and 503 hotel rooms. In addition to a 14,000 sq ft (1,300 m2) ground-floor casino, the resort also had a second, smaller casino on the 29th floor; it was the first high-rise casino in Nevada. Aside from the second casino, the five-story cupola dome at the top of the tower also featured restaurants, lounges, and a night club.

During the 1970s, the Landmark became known for its performances by country music artists. The resort also played host to celebrities such as Danny Thomas and Frank Sinatra.

History
The Landmark was initially planned as a 14-story hotel with a casino, although the floor count increased as the project progressed. Fremont Construction, owned by Louis P. Scherer of Redlands, California, began construction of the tower at the end of September 1961, under a $1.5 million contract. Frank Caroll's company, Caroll Construction Company, also worked on the tower. At the start of construction, the tower was to include 20 stories, while completion was planned for early 1963. The tower was built on a five-foot-thick base of concrete and steel, measuring 80 feet in diameter and resting on a base of caliche that descended 30 feet into the ground. Consolidated Construction Company was the concrete subcontractor for the tower.

By December 1961, Caroll had opened the two-story Landmark Plaza shopping center, built out in an L-shape at the base of the tower. The Landmark Apartments, with 120 units, were also built near the tower and operational by the end of 1961. In 1962, a bar known as Shannon's Saloon and a western music radio station, KVEG, began operating in the Landmark Plaza. In addition to studios, KVEG also had its offices in the shopping center.

By February 1962, the tower was planned to include 31 floors, making it the tallest building in Nevada. While plans for a separate hotel structure were being made, work began on the tower by pouring concrete on a continuous 24-hour schedule. The concrete pour was done with a slip forming method. With 21 floors expected to be added to the tower over a 12-day period, it was expected to reach the 24th floor by the end of the month. In March 1962, at the request of Caroll, Clark County Commissioners removed a restriction which specified that gaming licenses could only be issued for ground-level casinos, as Caroll wanted to open a casino on the second floor of the Landmark's shopping center. That month, Caroll received a $450,000 loan from Appliance Buyers Credit Corporation (ABCC), a subsidiary of RCA-Whirlpool.

Construction had reached the 26th floor by the end of April 1962. Upon completion of the floor, work was to begin on the tower's bubble dome. By June 1962, ABCC loaned an additional $300,000 to Caroll, who reached his $3 million loan limit with the company. Caroll ultimately owed ABCC a total of $3.5 million. In August 1962, the Landmark tower was designated as a civilian fallout shelter, with the capacity to hold 3,500 people after its completion. That month, work was underway on the steel framework base for the tower's glass bubble dome.

By September 1962, the Landmark tower was nearing completion and had become the tallest building in Las Vegas and the state, being visible from 20 miles away. By that time, many stores in the Landmark Plaza had closed due to falling debris that included welding sparks, steel, tools, rivets, and cement. A construction delay occurred in September 1962, when shipments of steel for the tower's dome were deemed inadequate and crews had to wait for new shipments. Construction was progressing rapidly on the tower's dome during October 1962, with steel and concrete still being added to the tower. Completion was still scheduled for early 1963. The Aluminium Division of Apex Steel Corporation Limited was contracted to install a $40,000 aluminum undershine on the tower's dome, to provide a maintenance-free and clean-looking appearance for viewers on the ground. Crews used scaffolding and hoists to reach the area where aluminum sheets needed to be placed. Each day, it took crews 18 minutes to be lifted up. Due to delays arising from strong winds, it took crews two months for the aluminium to be attached.

Delay
In December 1962, construction of the tower was stopped when ABCC denied further funding and alleged that the Carolls had defaulted on payments.[38][50] The 31-story tower had been topped off and the resort was approximately 80 percent complete, with $5 million already spent on the project.[43] The tower's planned opening was delayed until April 1963, but it did not occur as scheduled. In May 1963, ABCC was planning a sale of the apartments, shopping center, and unfinished tower for the following month. The Carolls sought to halt the sale, and filed a $2.1 million damage suit against ABCC, alleging that the company stopped construction and refused to pay the contractors. An injunction against foreclosure was granted in June 1963,[52] but was dissolved the following year. In October 1964, a sale of the tower was approved for later that month, after being requested by ABCC, which was still owed $3.5 million by Landmark Plaza Corporation. Up to that time, the tower had been appraised several times and was valued between $8 million and $9 million. Ownership subsequently changed, as did the resort's design plans.

In August 1965, Maury Friedman was working on a deal with RCA Victor to convert the Landmark's tower and apartment buildings into office space. By the following month, Inter-Nation Tower, Inc. – a Beverly Hills-based corporation – was negotiating with RCA-Whirlpool to develop the tower and adjacent land as an international market place, an idea that was supported by local retailers and resorts. In December 1965, architect Gerald Moffitt said the Landmark's design had gone through many revisions and that his design plans had been impounded by a court; a spokesman said there were no plans to resume construction in the near future. It was estimated that an additional six months were needed to complete the tower.

The unfinished tower became an eyesore for visitors to the nearby convention center. During its vacancy, people noted that the building appeared to be tilted, similar to the Leaning Tower of Pisa; experts stated that this was an illusion caused when the building was viewed with nearby power poles, which were tilted rather than the building itself. Local residents nicknamed it the "Leaning Tower of Plaza", the "Leaning Tower of Las Vegas", and "Frank's Folly." Moffitt said, "It doesn't tilt. There is only three-eights of an inch difference in diameter from top to bottom." In May 1966, early negotiations were being held with a prospective buyer of the Landmark.

Resumption
In July 1966, new design plans were filed with the county for the completion of the tower. Scherer planned to acquire additional property for use as a parking lot to accommodate the redesigned project. In August 1966, the Central Teamsters Pension Fund provided a $5.5 million construction loan for the project. By that time, ownership had been transferred to Plaza Tower, Inc., made up of several investors, including the Carolls and Scherer, whose construction company was awarded a $2.5 million contract to finish the Landmark tower. Because of legal problems involved with the project, the acquisition of title required over 5,000 hours of legal work and the settlement of more than 40 lawsuits. Construction was underway again in early September 1966, with completion expected in early 1967. The shops and taverns in the Landmark Plaza were closed, and the shopping center and gas station were demolished, so the land around the tower could be used to construct a casino, a hotel lobby, offices, and new shops. The adjacent Landmark apartments were to be converted into hotel rooms for the new resort.

In November 1966, Caroll planned to install two slot machines inside the Landmark Coffee Shop, which sold food to construction workers from inside a temporary structure that was to become the site of a permanent building eventually. Caroll's plans were denied as his gaming license did not apply to the coffee shop. At the time, Caroll was also accused by sheriff Ralph Lamb of being uncooperative with police officers who were searching for a hoodlum at the Landmark Apartments. The Landmark had been scheduled to open on September 15, 1967, but its opening was further delayed because of construction problems. A new opening date of November 15 was announced, with an official grand opening to be held on December 31, 1967.[67] In early November 1967, Scherer was awarded a $2.2 million contract for the final construction phase of the Landmark. Construction crews worked 24 hours a day for each day of the week during the final phase to have the 650-seat dinner showroom theater ready for the planned New Year's Eve opening. Also included in the final phase were clothing and jewelry shops, as well as a recreation area with swimming pools and a 20-foot waterfall.

By the time of its planned New Year's Eve opening, the tower was nearly complete, with an opening now scheduled for mid-January 1968.[69] Two groups – Plaza Tower Inc., the property's landlord group; and Plaza Tower Operating Corporation, the casino operating group – submitted a request for a gaming license to the Nevada Gaming Control Board, which investigates licensees and top casino employees prior to issuing gaming licenses.[4] The Landmark's opening did not occur as scheduled. During February and March 1968, the Landmark was declared as being completed,[4][6][71][72] although it was stated the following year that some construction work remained unfinished.[73] At the time of its stated completion in 1968, a total of 200,000 hours had been spent working on the project, which used 100,000 yards of concrete and 100 tons of steel.[74] The tower occupied 8.21 acres (3.32 ha) of the property, and remained as the tallest building in the state.[76]

Gaming license
In February 1968, an updated list of top casino employees was submitted to the gaming control board, which had up to 90 days to make a decision regarding the issuance of a gaming license. An opening date of mid-April 1968 was considered possible.[4] In March 1968, the Nevada Gaming Control Board recommended against the issuance of a gaming license due to "inadequate financial capabilities and resources of the operating corporation and of its principal investor", referring to Caroll.[70] However, the Nevada Gaming Commission had the Gaming Control Board reevaluate the license application

On April 5, 1968, the Las Vegas media was given a tour of the Landmark. During the event, Caroll beat the Landmark's interior designer, Leonard Edward England, for allegedly flirting with Caroll's wife. Caroll was arrested on April 17, 1968, on charges of assault and battery against England. On April 22, 1968, Caroll withdrew his request for a gaming license, a decision that was approved two days later. The company then planned to receive new financing and to eventually submit a new gaming application. Approximately 600 people were expected to be employed at the Landmark upon its opening. The Landmark was put up for sale in April 1968, and the charges against Caroll were dropped two months later on the condition that he not renew his gaming license application.

Financial problems
In May 1968, the Teamsters Pension Fund filed a notice of breach on the trust deed, alleging that Caroll, Plaza Tower Inc. and Plaza Tower Operating had been defaulting on loan payments since October 1967.[84] In late August 1968, the Las Vegas-based Supreme Mattress Company filed a lawsuit stating that it had only received $4,250 in payments for $25,505 worth of bedding material that was sold to the Landmark in December 1967.

On August 29, 1968, a joint petition was filed to declare the Landmark bankrupt. The petition was filed by Vegas Valley Electric, Inc., a plumbing contractor, and Landmark architects George Tate and Thomas Dobrusky. By that time, the Teamsters Union Pension Fund agreed to delay its foreclosure until the property was sold. Simultaneously, Sylvania Electric Company had intended to foreclose on the property because of an unpaid $3.7 million bill relating to electronic equipment installed in the Landmark. The joint petition prevented Sylvania from taking over ownership of the property.[86][87]

Plane crash
On the night of August 2, 1968, Everett Wayne Shaw, a 39-year-old mechanic depressed by the break-up of his month-long marriage, stole a Cessna 180 plane as part of an apparent suicide attempt. Shaw flew the plane toward the Landmark tower and pulled up just before hitting it. The plane brushed the top of the tower before crashing into the Las Vegas Convention Center across the street, approximately 200 yards (180 m) away. Shaw was killed in the crash, which did not harm anyone else. Plane debris was found on the Landmark's roof and at its base, but the crash was not believed to have caused any damage to the building.

Sale negotiations and Howard Hughes
In July 1968, there were five firms interested in purchasing the Landmark, which was expected to sell for $16 million to $17 million. One of the firms, Olla Corporation, withdrew consideration of a purchase later that month, while an announcement of the resort's sale was expected within several days. Multiple companies made purchase offers that were ultimately rejected, including Rosco Industries Inc., based in Los Angeles. On October 12, 1968, Caroll denied a report that the Landmark would be leased to Royal Inns of America, Inc. and operated without a casino. At the time, negotiations were underway with three corporations interested in purchasing the resort.

Howard Hughes, pictured in 1938, purchased the Landmark in 1969
On October 23, 1968, billionaire Howard Hughes reached an agreement to purchase the Landmark through Hughes Tool Company for $17.3 million,[76][96] after denying reports earlier in the year that he was interested in purchasing the project.[97][98] As part of the sale agreement, Hughes' Hotel Properties, Inc. would accept responsibility for approximately $8.9 million owed to the Teamster Union, as well as approximately $5.9 million in other debts and a balance of $2.4 million to Plaza Tower, Inc.[99] At the time of the agreement, Hughes also owned five other hotel-casinos in Las Vegas.[76] The United States Department of Justice launched an antitrust investigation into Hughes' proposed purchase, after previously investigating his attempt to purchase the Stardust Resort and Casino.[72][94] As part of the investigation, the Department of Justice tried to determine whether there were other prospective buyers for the Landmark.[94] By December 1968, negotiations were underway with several interested firms, including a $20 million offer from Tanger Industries, a holding company based in El Monte, California.[94][100][101]

Hughes purchase and opening preparations
On January 17, 1969, the Department of Justice approved Hughes' plan to purchase the Landmark as his sixth Las Vegas resort. Later that month, a $1.5 million lawsuit was filed against Hughes Tool Company by Pennsylvania resident James U. Meiler and New York brokerage firm John R. Roake and Son, Inc. Meiler and the brokerage firm stated that they were entitled to a $500,000 brokerage fee for previously arranging a sale of the Landmark to Republic Investors Holding Company, before Hughes Tool Company agreed to purchase it. The lawsuit alleged that Hughes Tool Company "purposely and intentionally caused a restraining of interstate commerce".

At the end of January 1969, Hughes spokesmen stated that some construction on the resort was never finished; that some maintenance systems had not yet been installed; and that some repairs were needed. Hughes also planned to have some of the hotel rooms refurbished. Because of the additional work, the resort was not expected to open until at least July 1, 1969. Approximately 1,000 to 1,100 people were expected to be employed at the Landmark. The Landmark was the only casino that Hughes had taken over before it was opened. As a result, Hughes was heavily involved in details regarding the project. Hughes spent approximately $3 million to give the interior a lavish design and to add other touches to the resort, while the exterior of the Landmark buildings was left unchanged.

In March 1969, Hughes applied for approval to operate the Landmark's gambling operations, with a tentative opening date of July 1, 1969. Hughes planned to operate the casino through his Nevada company, Hughes Properties Inc., which was overseen by Hughes executive Edward H. Nigro. Hughes planned for the resort to include 26 table games and 401 slot machines. Hughes' purchase of the Landmark was not complete at that time, and his representatives stated that the sale would not be completed unless gambling and liquor licenses were issued by the state. In April 1969, Hughes received approval from the Gaming Control Board and from the state.

Hughes planned to personally oversee planning for the Landmark's grand opening; Robert Maheu, who had worked for Hughes since the 1950s, said "I knew from that point on that I was in trouble. He was completely incapable of making decisions." Hughes and Maheu never met each other in person due to Hughes' reclusive lifestyle. Instead, they communicated by telephone and through written messages. For months, they had intense arguments regarding the Landmark's opening date. Maheu believed the Landmark should open on July 1, 1969, but Hughes did not want to commit to an exact date for various reasons. Across the street from the Landmark, Kirk Kerkorian was planning to open his International Hotel on July 2, 1969. Hughes had wanted the Landmark's grand opening event to be better than Kerkorian's, but was concerned that the opening night would not go as planned. Hughes also did not want the opening date to be publicly announced too soon in the event that it should be delayed; Hughes wrote to Maheu: "With my reputation for unreliability in the keeping of engagements, I dont [sic] want this event announced until the date is absolutely firmly established."

Additionally, Hughes wrote to Maheu: "I would hate to see the Landmark open on the 1st of July and then watch the International open a few days later and make the Landmark opening look like small potatoes by comparison." Maheu became concerned, as it was difficult to plan the grand opening without knowing the date.[109] As the tentative opening date approached, Hughes became concerned about other events scheduled for July 1969 – such as the Apollo 11 moon landing – which might distract from the publicity of the Landmark's opening.[109] By mid-June 1969, Hughes had still not given a definite opening date, which was still tentatively scheduled for July 1, although Hughes had wanted the Landmark to open sometime after the International Hotel. Weeks before the tentative opening, Hughes obsessively made repeated changes to the guest list for the resort's opening night. Regarding who should be invited, Hughes had complex specifications for Maheu to follow. Maheu ultimately had to decide the guest list himself.

On June 16, 1969, Sun Realty filed a claim against Plaza Tower, Inc., thus delaying Hughes' purchase of the Landmark and threatening its planned opening. Sun Realty alleged that it was owed a $500,000 finder's fee for locating Hughes as a buyer. The case was dismissed on June 25, 1969. On June 30, 1969, Sun Realty appealed the decision but was denied that day as it was unable to post a bond that would pay the $5.8 million worth of claims, filed by approximately 120 other creditors after Plaza Towers Inc. entered bankruptcy. Hughes' $17.3 million acquisition of the Landmark, through Hughes Tool Company, was completed on July 1, 1969, a day after Hughes issued checks to three different entities to complete the purchase: $2.5 million to Plaza Towers; $5.8 million to fully pay unsecured creditors; and $9 million to pay off the Teamsters Union.

Opening and operation (1969–)
The Landmark opened on the night of July 1, 1969, a day before the International Hotel. The resort was first unveiled to 480 VIP guests prior to the public opening, which was scheduled for after 9:00 p.m. Apollo 10 astronauts Thomas P. Stafford and Eugene Cernan attended the grand opening, and were the first people to enter the new resort. Other guests included Cary Grant, Dean Martin, Jimmy Webb, Phil Harris, Tony Bennett, Sammy Cahn, Steve and Eydie, and Wilt Chamberlain. Nevada governor Paul Laxalt, as well as senators Alan Bible and Howard Cannon, were also at the opening. Three members of the Los Angeles Rams were also in attendance: Jack Snow, Lamar Lundy, and Roger Brown.

Local, national and international media were also present for the grand opening, which was described by the Las Vegas Sun as resembling a Hollywood premiere. A closed-circuit television camera filmed the festivities in the Landmark on opening night, with the footage being shown live to guests at Hughes' other hotels, the Sands and the Frontier. Hughes – who lived in a secluded penthouse at his nearby Desert Inn hotel-casino – did not attend the grand opening. For opening night, comedian Danny Thomas was the first to perform in the Landmark's theater-restaurant showroom. Hughes had earlier suggested a Rat Pack reunion or a Bob Hope-Bing Crosby reunion as the opening act, both of which were considered unlikely to happen.

Television advertisements for the resort stated: "In France, it's the Eiffel Tower. In India, it's the Taj Mahal. In Las Vegas, it's the Landmark." Dick Parker, executive vice president for the Landmark, had stated during the previous year that the International and the nearby Las Vegas Convention Center would not harm the Landmark's business.[6] The Landmark reportedly lost $5 million in its first week of operations,[15] and despite its close proximity to the convention center, the resort failed to make a profit during the subsequent years of its operation.[8][125] In October 1969, Sun Realty filed a damages lawsuit against Hughes Tool Company and Plaza Tower, Inc, alleging that the two companies conspired to avoid paying the realty company its $500,000 finder's fee. Aside from the finder's fee, Sun Realty also sought an additional $5 million in punitive damages.[126] In February 1971, the Nevada supreme court rejected the lawsuit, which had sought $3 million by that time.[82] In December 1971, Hughes paid a little over $1 million to purchase 9.86 acres (3.99 ha) of adjacent land located west of the Landmark. Hughes had previously leased the property, which he had been using as a parking lot for the resort.

In January 1973, ownership of the Landmark was transferred to Hughes' Summa Corporation, formerly Hughes Tool Company. That year, the Landmark was valued at $25 million in a property appraisal. By 1974, William Bennett and William Pennington made an offer to buy the Landmark, but Hughes raised the price several times, from $15 million to $20 million; they bought the Circus Circus resort instead. In January 1976, the Landmark began offering foreign-language gaming video tapes to its German, Japanese, and Spanish hotel guests, who frequently limited themselves to playing slot machines rather than table games because of language barriers. Summa general manager E. H. Milligan said, "As far as we know, we are the first hotel in Las Vegas to present this service in this manner." The hotel and casino briefly closed in March 1976, as part of a hotel worker strike consisting of nearly 25,000 employees, affecting 15 Las Vegas resorts. The strike lasted two weeks before ending in late March. Hughes died of kidney failure the following month.

By May 1977, Summa was financially struggling; that month, the brokerage firm of Merrill, Lynch, Pierce, Fenner & Smith recommended that Summa sell its various holdings, including the Landmark. According to the brokerage firm, the Landmark "has proven highly inefficient for hotel/casino operations and, in the opinion of Summa Corporation's management, does not warrant further investment."[136][137]

Gas leak and fire
On July 15, 1977, shortly after 4:00 a.m., a water pipe burst in the tower's subbasement, two floors below ground level. Two feet of water flooded the basement room and shorted out the main power panel, thereby cutting out electricity for the resort shortly before 5:00 a.m. An auxiliary power generator provided lighting for the resort. However, telephones, air conditioning, and four of the tower's five elevators were left non-functional because of the main power failure. Carbon monoxide, freon and methane, all originating from the auxiliary generator, infiltrated the tower through ventilation ducts, forcing an evacuation of the building. Between 9:00 a.m. and 11:00 a.m., crews from the Southwest Gas Corporation inspected the building with firemen and found no further traces of gas, allowing guests and employees to re-enter the building. A second evacuation was ordered at 2:30 p.m. after another power failure, which rendered the elevators inoperable once again. During the outage, 21 table games remained open with the use of emergency lights, while a bar gave away free drinks. Power was restored at 6:45 p.m., although telephones remained inoperable. Guests were given the option to stay at one of Summa's other hotel properties. Despite the incident, hotel executives stated that the resort maintained 95-percent occupancy. An investigation into the cause of the gas leaks could not begin that day due to the presence of fumes in the basement.

During the incident, a news reporter and a cameraman for the local KLAS-TV news channel – also owned by Summa – were beaten and forced out of the hotel lobby by Landmark guards who were armed with clubs and flashlights. Damaged in the altercation was the recording unit for a $37,000 camera owned by KLAS. Other local news crews were allowed to stay at the property to cover the incident. Orders to remove KLAS were given to the guards by hotel management, which had been irritated by recent KLAS news stories that related to Summa's properties, including a story stating that negotiations were underway to sell the Landmark to an Arabian investor. A total of 138 people were hospitalized after inhaling the poisonous gases; they were treated at four local hospitals. Among the hospitalized were nearly 100 hotel guests, and several firemen and ambulance drivers; most of the patients were released from the hospitals within three days of the incident. A 55-year-old man was the sole casualty in the incident. An investigation into the cause of the gas leaks concluded on July 19, 1977, and found that a defective exhaust line on one of the emergency generators was responsible. The line had been installed during the hotel's construction. John Pisciotta, director of the Clark County Building Department, did not believe that he or anyone else would be able to determine how the line became damaged. Summa brought in the company which installed the system to have it repaired.

On October 23, 1977, at 3:44 p.m., a two-alarm fire was reported in a hotel room on the 22nd floor, after a bartender in the 27th floor lounge smelled smoke. The entire room had caught on fire from a cigarette. The fire was extinguished with help from 45 firefighters, who put it out within five minutes of their arrival. However, the fire led to heavy smoke infiltrating the entire hotel and ground-floor through elevator shafts. The Landmark was evacuated, and hundreds of guests and employees were allowed to return inside at approximately 5:15 p.m., after smoke had been cleared from the resort's interior. The 22nd through 27th floors had moderate smoke damage. Five hotel guests were treated for smoke inhalation, but none required hospitalization.

Prospective buyers
During October 1977, Summa was in negotiations with several prospective buyers for the Landmark, which had approximately 1,200 employees at the time. One interested buyer was a group of Chicago investors led by an attorney. Summa was also in negotiations to sell the Landmark for $12 million to Nick Lardakis, a tavern owner who lived in Akron, Ohio. Simultaneously, Summa was holding discussions with the Scott Corporation – a group of downtown Las Vegas entrepreneurs led by Frank Scott – which wanted to purchase the resort at a price of nearly $10 million. Lardakis' acquisition of the Landmark was rejected that month as he was unable to raise the necessary funds to make the purchase; according to Summa, Lardakis' terms were "unrealistic." The Chicago group made a $12 million offer, but Summa's board of directors favored the offer by Scott Corporation, which had no down payment and included a 20-year payout period, while the Chicago group was opposed to a long-term mortgage arrangement with Summa. The Chicago group noted that Summa officials repeatedly declined to let the group examine the Landmark's 1973 property appraisal. Other $12 million offers came from Las Vegas heiress JoAnn Seigal and Beverly Hills management consultant Charles Fink. Seigal also complained that Summa would not provide her with a property appraisal to base her negotiations.

The Beverly Hills-based Acro Management Consultants offered $16 million for the Landmark, the highest of five bids up to that time. Summa spokesman Fred Lewis said that Acro's bid was considered "more of an inquiry" than a serious offer,[156] a belief that was disputed by Leonard Gale, vice president of Acro. Gale acknowledged that the Landmark was "the biggest lemon in Las Vegas", but was confident it could become a successful property under Acro's ownership. After weeks of negotiations, Summa announced that no decision had been made on a sale of the Landmark, reportedly due to disagreements within the company. William Lummis, a cousin of Hughes, had been named chairman of the Summa board earlier in the year. Lummis wanted to sell all of Summa's non-profitable properties, while chief operating officer Frank William Gay, citing the purported desires of Hughes, wanted to expand and modernize such properties. The Landmark was considered the weakest of Summa's six gaming and hotel properties in Nevada, as it had never made a profit up to that time.

Summa officials held a meeting on November 3, 1977, but the company made no decision on selling the Landmark, which lost an average of $500,000 per month. By that time, the Scott Corporation stated that it would likely withdraw its offer to purchase the Landmark because of inability to obtain long-term financing. In January 1978, Summa announced that the Landmark would be sold to the Scott Corporation, with the sale price reportedly ranging between $10 million and $12 million. Up to that time, the resort had reportedly lost $15 million since its opening, despite numerous attempts to increase business. Experts believed that the Landmark suffered financially as a result of its low room-count (486 guest rooms at the time) and its location across the street from the Las Vegas Hilton (formerly the International), which was the world's largest hotel at the time. Frank Scott owned downtown Las Vegas' Union Plaza Hotel, which had become one of the city's most successful casinos, and he said the same management principles used at the Union Plaza would be applied to the Landmark.

Scott intended to change the name of the resort, with "The Plaza Tower" as the favorite among several names under consideration. Scott planned to take over operations once the sale received approval from Summa, county and state gaming officials, and courts that were handling Hughes' estate.[160] Because higher offers were subsequently made for the Landmark, the Scott Corporation's offer was rejected by a judge who was monitoring the Hughes estate.

Wolfram/Tickel ownership
A group of midwestern investors purchased the Landmark from the Summa Corporation in February 1978, at a cost of $12.5 million. The group was led by Lou Tickel and Zula Wolfram, and it included Gary Yelverton. The purchase was financed using money that Wolfram's husband, Ed Wolfram, embezzled from his brokerage firm, Bell & Beckwith. Faye Todd, the Landmark's entertainment director and a corporate executive assistant, primarily oversaw the Landmark's operations for the Wolframs, who lived in Ohio. The Wolframs were high rollers who frequently stayed at the Desert Inn resort when visiting Las Vegas. Todd met the Wolframs while working for the Desert Inn as special events coordinator, and she became close friends with Zula Wolfram, who had been planning to purchase a Las Vegas hotel with her husband. Tickel, a former magistrate judge and a resident of Salina, Kansas, previously owned several other hotels. The group was confident that the Landmark would overcome its financial problems, and they planned to add a 750-room hotel tower to the property within two years.

The sale was completed on March 31, 1978, under the new ownership of Zula Wofram, and Lou and Jo Ann Tickel. However, the new owners were unable to find someone with a gaming license and sufficient funds to continue operating the casino ahead of the sale's completion. The investment group had yet to apply for gaming and liquor licenses, and the Summa Corporation declined to continue operating the casino, citing a lack of interest. The Landmark's casino, which had 272 employees, was closed on April 1, 1978, due to the lack of gaming licenses. The owners began a search for a suitable licensed individual who could temporarily operate the casino until they could receive their own gaming license. The hotel, restaurants, and shops remained open, with 700 other employees. The casino reopened on June 2, 1978, after a one-year gaming license had been granted to Frank Modica, a Las Vegas gaming figure who would temporarily operate the casino on the owners' behalf. The casino's bingo parlor remained closed as it was undergoing renovations.

In October 1978, Tickel, Wolfram, and Yelverton were approved by the state to be licensed as the landlords of the Landmark. At the time, Ed Wolfram was listed as a financial adviser on the licensing plan. In 1979, Jesse Jackson Jr. was the Landmark hotel manager, and was the only such manager in the Las Vegas hotel industry to be black. The Tickels remained as co-owners of the Landmark until 1980, following Zula Wolfram's approval to purchase their interest in the resort. In 1982, architect Martin Stern Jr. was hired to design a large expansion of the Landmark. Revenue for the Landmark exceeded $26 million that year, although the resort lost $500,000 during the month of November 1982. Up to that time, the Landmark had lost an average of $3 million every year since its opening.

Federal investigators shut down Wolfram's firm on February 7, 1983, after they discovered $36 million of money missing in six accounts that were managed by him and his wife, ultimately leading to the discovery of his embezzlement. Lawyer Patrick McGraw, trustee for Bell & Beckwith, was approved later that month to operate the Landmark until it could be liquidated. The expansion designed by Stern was cancelled, and Ed Wolfram was convicted of embezzling later that year, after admitting to using money from his firm to pay for various businesses ventures, with the Landmark being the most expensive. Zula Wolfram, who had owed $5 million to Summa since her purchase of the Landmark, was forced to sell her majority share in the resort.