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| Park Place Entertainment's Nevada Properties to add Energy Surcharge |
6/12/2001 Las Vegas � Park Place Entertainment Corporation (NYSE: PPE) announced today that, due to extraordinary and unprecedented increased energy costs, its nine Nevada properties will apply an energy surcharge to hotel room rates confirmed on or after June 15. The cost of the energy surcharge is $3 per room/per night at: Bally?s Las Vegas Caesars Palace Las Vegas Flamingo Las Vegas Las Vegas Hilton Paris Las Vegas Flamingo Reno Reno Hilton Caesars Tahoe Flamingo Laughlin ?We?ve worked very hard to mitigate these costs for our customers and our shareholders, ? said Mark Dodson, Park Place co-chief operating officer and president of the company?s Western Casino Group. ?Up to this point, we have relied on aggressive conservation programs and effective purchasing strategies. Our team members have done a great job with programs like upgrading heating and cooling systems, improving climate control strategies and installing energy-efficient lighting. Though these efforts have saved millions of kilowatt hours, the savings haven?t kept pace with the extraordinary cost increases. Our efforts will continue to be directed toward initiatives that not only save costs and conserve resources, but also protect the environment.? 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, Hilton and Paris brand names with a total of approximately 2 million square feet of gaming space, over 28,000 hotel rooms and approximately 60,000 employees worldwide. |
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