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Park Place Denies Protesting Tahoe Deal15 June 2001LAS VEGAS, Nevada – June 15, 2001 –Park Place Entertainment Corp. of Las Vegas on Thursday said it has not protested Harrah's Entertainment Inc.'s plans to acquire Harveys Casino Resorts of Lake Tahoe. "Park Place did not file a complaint with the FTC objecting to Harrah's purchase of Harveys Casino Resorts," said Park Place spokeswoman Debbie Munch. A 30-day delay in the deal was announced Tuesday, when Harrah's said the Federal Trade Commission had requested more information about the buyout. The deal would give Harrah's three of the six casinos in Lake Tahoe, and more than 50 percent market share there in hotel rooms and slot machines. Its largest competitor in the market following the deal would be Park Place-controlled Caesars Tahoe. |