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Park Place Dismisses Arthur Andersen as Auditor3 April 2000Park Place Entertainment Corp. (NYSE: PPE), which is based in Las Vegas, has dismissed Arthur Andersen LLP, its independent accounting firm. The dismissal was effective Friday, Park Place said in a filing with the Securities and Exchange Commission. The company replaced Arthur Andersen with Deloitte & Touche. In its filing, Park Place said there have been no disputes between it and Arthur Andersen on matters of accounting principles, financial statement disclosure, or audit procedures. Arthur Andersen furnished a letter in the filing concurring with Park Place's statement. "We periodically put this business out to competitive bid," a Park Place spokesman said. "After receiving proposals and hearing presentations from several providers, the audit committee of the board and the board decided to hire Deloitte and Touche." Arthur Andersen will be retained while it completes audit work for 1999. Park Place said this work should be complete by May 31. |