Located in southern Indiana, across the Ohio River from Louisville, Ky., the new hotel and parking facility were constructed at a total cost of approximately $80 million ($62 million hotel, $18 million parking structure).
 

The 10-story hotel, which opened on Monday, Aug. 27, features 19 suites, a cafe and lobby bar, exercise/weight room, gift shop and 24-hour room service. "The new hotel highlights Park Place's commitment to position Caesars Indiana as a complete destination resort, both for the leisure guest and for the meeting and convention client," said

Caesars Indiana  model

"This year, Caesars Indiana has produced strong revenue growth fueled by both the casino and the food and entertainment Pavilion," said Wallace R. Barr, PPE chief operating officer. "We believe the new hotel accommodations at Caesars Indiana will drive incremental visitation to our casino and conference center, especially mid-week. Its opening marks an important step toward fully extending our Caesars brand in middle America."

The resort property, which opened Nov. 16, 1998, currently features the spectacular Glory of Rome riverboat/casino, with approximately 2,500 slot machines and 140 table games in 90,000 square feet of casino space; eight restaurants/cafes; and a 200,000-square-foot Pavilion, which offers retail attractions and a 24,000-square-foot conference center (which includes a 1,500-seat entertainment/event Colosseum). The Colosseum and conference center opened in November 2000.
 
An enclosed swimming pool, with a seasonal sun deck, is scheduled for completion in early 2002, and an 18-hole championship golf course, Chariot Run, is under construction and will open during the third quarter of 2002.

Park Place Entertainment is the world's largest gaming company and owns, manages or has an interest in 29 gaming properties operating under the Bally's, Caesars, Flamingo, Grand Casinos and Hilton brand names with a total of approximately 2 million square feet of gaming space, more than 28,000 hotel rooms and approximately 60,000 employees worldwide.

This news release contains "forward-looking statements" within the meaning of federal securities law, including statements concerning company plans, expectations and projections.