Jun 30, 1998 9:25 AM

Hilton's Big Spin

Hilton Hotels Corp. couldn't find any partners with which to merge its hotel and casino operations, so it's decided to split its holdings, buy three Mississippi gaming operations, and create the world's largest gambling company. Hilton's new casino company, which has yet to be named, will buy three casinos from Grand Casinos for US$650 million and assume $550 million of the company's debt. Hilton will have 18 casinos in the United States, Australia, and Uruguay. It has 260 hotels in the United States.

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