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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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 11, 2000
PARK PLACE ENTERTAINMENT CORPORATION
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(Exact name of registrant as specified in its charter)
DELAWARE
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(State or other jurisdiction of incorporation)
1-14573 88-0400631
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(Commission File Number) (IRS Employer Identification No.)
3930 HOWARD HUGHES PARKWAY
LAS VEGAS, NEVADA 89109
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (702) 699-5000
NOT APPLICABLE
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(Former name or former address, if changed since last report)
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Item 5. Other Events
On July 11, 2000, the Registrant entered into an agreement to sell
the Las Vegas Hilton. The sale is expected to be completed by year-end and is
subject to regulatory approval. The press release announcing the disposition
is included as Exhibit 99.1 hereto and is incorporated herein by reference.
The Registrant has revised its previous estimate, and now expects to record,
in the second quarter of 2000, a non-cash net of tax book loss of
approximately $36 million on the disposition.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99.1 Press Release of Park Place Entertainment issued July 11, 2000.
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
Dated: July 21, 2000
By: /s/ SCOTT A. LaPORTA
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Name: Scott A. LaPorta
Title: Executive Vice President and Chief Financial Officer
