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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
_____________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 28, 1999
PARK PLACE ENTERTAINMENT CORPORATION
__________________________________
(Exact Name of Registrant as Specified in its Charter)
DELAWARE 0-14573 88-0400631
_______ _________ ________
(State or Other (Commission File (IRS Employer
Jurisdiction of Number) Identification No.)
Incorporation)
3930 HOWARD HUGHES PARKWAY
LAS VEGAS, NEVADA 89109
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(Address of Principal Executive Offices) (Zip Code)
(702) 699-5000
________________
(Registrant's telephone number, including area code)
Not Applicable
_______________
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
On July 28, 1999, the registrant announced that it had priced a
private placement offering of $300 million in aggregate principal amount of
Senior Notes to be sold to qualified institutional buyers. A copy of the
press release is attached hereto as Exhibit 99 and incorporated herein by
reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
7(c) EXHIBITS
99 Press Release of Park Place Entertainment Corporation,
dated July 28, 1999.
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PARK PLACE ENTERTAINMENT CORPORATION
By: /s/ Scott A. LaPorta
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Name: Scott A. LaPorta
Title: Executive Vice President and
Dated: July 29, 1999 Chief Financial Officer
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EXHIBIT 99
LAS VEGAS--(BUSINESS WIRE)--July 28, 1999--Park Place Entertainment Corp.
(NYSE: PPE) announced today that it has priced a private placement offering
of $300 million in aggregate principal amount of Senior Notes to be sold to
qualified institutional buyers.
The proceeds from the offering will be used to repay current bank
indebtedness. The notes carry a 7.95% coupon and mature in August 2003.
The notes may be redeemed, in whole but not in part, by the Company at
any time at a make whole premium.
The notes have not been registered under the Securities Act of 1933, as
amended, or applicable state securities law, and may not be offered or sold
in the United States absent registration under the Securities Act and
applicable securities laws or available exemptions from the registration
requirements
This press release is being made pursuant to the requirements of Rule
135c of the Securities Act of 1933.
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