Lenders agreed to new terms that had been hammered out over the weekend, canceling Tuesday's expected auction, the Las Vegas Sun reported.
NorthStar Realty Finance Corp. attorney Jeff Silver said, "The lenders and borrowers have reached an agreement going forward that would make the foreclosure tomorrow unnecessary."
"I would applaud the gaming agencies and (casino management firm) Navegante for working with the parties to keep the property operating," he said.
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