FX Real Estate and Entertainment Inc. (NASDAQ: FXRE) today filed
electronically its Annual Report on Form 10-K for the year ended
December 31, 2007, with the Securities and Exchange Commission.
A copy of the Annual Report has been posted on and is available at the
Company’s website at www.fxree.com.
In addition, the Company’s stockholders may
receive a hard copy of the Annual Report, free of charge, upon request.
The Company’s common stock is listed and
traded on the NASDAQ Global Market under the symbol “FXRE.”
About FX Real Estate and Entertainment
FX Real Estate and Entertainment owns 17.72 contiguous acres of land
located at the southeast corner of Las Vegas Boulevard and Harmon Avenue
in Las Vegas, Nevada, known as the Park Central site. FXRE intends to
pursue a hotel, casino, entertainment, retail, commercial and
residential development project on the Park Central site. FXRE has
license agreements with Elvis Presley Enterprises, Inc., an 85%-owned
subsidiary of CKX, Inc. [NASDAQ: CKXE],
and Muhammad Ali Enterprises LLC, an 80%-owned subsidiary of CKX, which
allows it to use the intellectual property and certain other assets
associated with Elvis Presley and Muhammad Ali in the development of its
real estate and other entertainment attraction-based projects. FXRE
currently anticipates that the development of the Park Central site will
involve multiple elements that incorporate the Elvis Presley assets and
theming. In addition, the license agreement with Elvis Presley
Enterprises grants FXRE the right to develop, and it currently intends
to pursue the development of, one or more hotels as part of the master
plan of Elvis Presley Enterprises, Inc. to redevelop the Graceland
property and surrounding areas in Memphis, Tennessee.
In addition to its interest in the Park Central Property, its plans with
respect to a Graceland-based hotel, and its intention to pursue
additional real estate and entertainment-based developments using the
Elvis Presley and Muhammad Ali intellectual property, FXRE, through
direct and indirect wholly owned subsidiaries, owns 1,410,363 shares of
common stock of Riviera Holdings Corporation [AMEX:RIV],
a company that owns and operates the Riviera Hotel & Casino in Las
Vegas, Nevada and the Blackhawk Casino in Blackhawk, Colorado.
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