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Non-Tech : Park Place Entertainment (PPE)

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To: polarisnh who wrote (30)	2/11/2000 7:41:00 AM
From: polarisnh	of 39

Park Place CFO comfortable with Q1 earnings estimates LAS VEGAS, Feb. 10 (Reuters) - The Chief Financial Officer of the world's top casino operator, Park Place Entertainment Corp. (NYSE:PPE - news) said Thursday that he is ``comfortable' with analysts' first quarter earnings estimates of 16 cents per share. ``We're just saying we're comfortable with estimates,' Chief Financial Officer Scott La Porta told Reuters at a gaming and leisure conference here that ended today. He would not elaborate. A good first quarter for Park Place would come on the heels of double digit growth in the fourth quarter fueled in large part by sold out crowds at the company's newest $785 million Las Vegas Strip resort, Paris Las Vegas which opened in September. La Porta said that Park Place will also host a boxing match between Trinidad and David Reid March 3 at its newly acquired Caesar's Palace, which should spur healthy crowds. Park Place has gone through many changes in the year since it was spun off from Hilton Hotels Corp (NYSE:HLT - news) in Dec. 1998. Not the least of which was the $3 billion acquisition in December of the Caesar's World properties from Starwood Hotels & Resorts Worldwide Inc (NYSE:HOT - news). Despite increasing competition among casino operators and rapid consolidation in the industry, Park Place is poised for further expansion, La Porta said. Park Place is keeping its eye on gambling markets in Illinois and Detroit as a possible area to make new acquisitions, he said. In the near future the newly-acquired Caesar's Palace in Las Vegas will receive some upgrades, including a high-end nightclub, and expanded high-end table game area, he said. ``We are also planning to add some additional suites to Caesar's in the next 12 to 18 months,' La Porta said.

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