GAMING

Hilton Hotels OKs Spinoff: The Beverly Hills-based company said its board approved a plan to split off gaming operations from its hotel businesses. The gaming and hotel businesses will be operated as two independent, publicly held corporations, each with its own dedicated management team and board of directors, Hilton announced. The transaction is expected to be tax free, with shareholders receiving one share of stock of the new gaming company for each of their share of Hilton Hotels Corp. The spinoff is subject to a number of conditions, including regulatory and other third-party approvals.