CAESARS WORLD INC
SC 13D/A, 1995-01-06
MISCELLANEOUS AMUSEMENT & RECREATION
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               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549
                                
                                                
                          SCHEDULE 13D
                        (Amendment No. 2)
                                
                                
                                                
            Under the Securities Exchange Act of 1934
                                 
                         Caesars World, Inc.         
                        (Name of Issuer)
                                
                        
             Common Stock Par Value $0.10 Per Share     
                (Title of Class and Securities) 
                                
                                                
                           127695104                  
              (CUSIP Number of Class of Securities)
                                                
                                                
                                                
          J. Hamilton Crawford Jr., Gabelli Funds, Inc.,
     One Corporate Center, Rye, NY 10580-1434 (914) 921-5067
    (Name, Address and Telephone Number of Person Authorized
             to Receive Notices and Communications)
                                
                                                
                          January 3, 1995                      
     (Date of Event Which Requires Filing of this Statement)
                                

If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this State-
ment because of Rule 13D-1(b)(3) or (4), check the following box: 
                                                        ____     
                                                       /___/ 


Check the following box if a fee is being paid with this State-
ment:
                                                       _____
                                                      /    /
<PAGE>
_________________________________________________________________

CUSIP No. 127695104                                       13D
_________________________________________________________________
(1)  NAMES OF REPORTING PERSONS 
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
      Gabelli Funds, Inc.            I.D. No. 13-3056041
_________________________________________________________________
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
      WC 
_________________________________________________________________
(5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
     REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          _____
                                                     /  x /
_________________________________________________________________
(6)  CITIZENSHIP OR PLACE OF ORGANIZATION
      New York
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     738,300 (Item 5) 
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     None  (Item 5) 
 OWNED BY EACH REPORTING                :________________________
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     738,300 (Item 5)
                                        :________________________
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     None  (Item 5)  
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      738,300 (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
     EXCLUDES CERTAIN SHARES*                         _____
                                                     /  x /
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
      2.96%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      HC
_________________________________________________________________
              *SEE INSTRUCTIONS BEFORE FILLING OUT!  
_____________________________________

CUSIP No. 127695104                                        13D
_________________________________________________________________
(1)  NAMES OF REPORTING PERSONS 
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
      GAMCO Investors, Inc.              I.D. No. 13-2951242
_________________________________________________________________
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
      OO:  Funds of investment advisory clients
_________________________________________________________________
(5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
     REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          _____
                                                     /  x /
_________________________________________________________________
(6)  CITIZENSHIP OR PLACE OF ORGANIZATION
      New York
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     840,100 (Item 5)
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     None
 OWNED BY EACH REPORTING                :________________________ 
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     870,100 (Item 5)
                                        :________________________ 
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     None  
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
     870,100 (Item 5)
_________________________________________________________________

(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
     EXCLUDES CERTAIN SHARES*                         ____
                                                     /___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
      3.50%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      IA
_________________________________________________________________
              *SEE INSTRUCTIONS BEFORE FILLING OUT!  
______________________________________

CUSIP No. 127695104                                        13D
_________________________________________________________________
(1)  NAMES OF REPORTING PERSONS 
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
      Gabelli Performance Partnership   I.D. No. 13-3396569
_________________________________________________________________
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
     AF:  Funds of Gabelli Performance Partnership
_________________________________________________________________
(5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
     REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          ____
                                                     /___/
_________________________________________________________________
(6)  CITIZENSHIP OR PLACE OF ORGANIZATION
      Delaware 
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     100,000 (Item 5)
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     None  
 OWNED BY EACH REPORTING                :________________________ 
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     100,000 (Item 5)
                                        :________________________ 
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     None  
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      100,000 (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
     EXCLUDES CERTAIN SHARES*                         ____
                                                     /___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
      0.40%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      CO
_________________________________________________________________

              *SEE INSTRUCTIONS BEFORE FILLING OUT!
____________________________________

CUSIP No. 127695104                                        13D
_________________________________________________________________
(1)  NAMES OF REPORTING PERSONS 
     S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
     Mario J. Gabelli                  I.D. No. ###-##-####
_________________________________________________________________ 
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
      WC 
_________________________________________________________________
(5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
     REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          ____
                                                     / x /
_________________________________________________________________
(6)  CITIZENSHIP OR PLACE OF ORGANIZATION
      USA 
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     43,000  (Item 5)
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     None  
 OWNED BY EACH REPORTING                :________________________ 
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     43,000  (Item 5)
                                        :________________________ 
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     None  
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      43,000 (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
     EXCLUDES CERTAIN SHARES*                         _____
                                                     /  x /
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
      0.18%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      IN
_________________________________________________________________

              *SEE INSTRUCTIONS BEFORE FILLING OUT!
____________________________________

CUSIP No. 127695104                                        13D
_________________________________________________________________
(1)  NAMES OF REPORTING PERSONS 
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
      Gabelli International Limited I.D. No. Foreign 
      Corporation
_________________________________________________________________
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
      WC 
_________________________________________________________________
(5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
     REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          ____
                                                     /___/
_________________________________________________________________
(6)  CITIZENSHIP OR PLACE OF ORGANIZATION
      British Virgin Islands
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     35,000 (Item 5)
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     None  
 OWNED BY EACH REPORTING                :________________________ 
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     35,000 (Item 5)
                                        :________________________ 
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     None  
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      35,000 (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
     EXCLUDES CERTAIN SHARES*                         ____
                                                     /___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
      0.14%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      CO
_________________________________________________________________

              *SEE INSTRUCTIONS BEFORE FILLING OUT!
____________________________________

CUSIP No. 127695104                                        13D
_________________________________________________________________
(1)  NAMES OF REPORTING PERSONS 
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
      Gabelli International Limited II I.D. No. Foreign 
      Corporation
_________________________________________________________________
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
      WC 
_________________________________________________________________
(5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
     REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          ____
                                                     /___/
_________________________________________________________________
(6)  CITIZENSHIP OR PLACE OF ORGANIZATION
      British Virgin Islands
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     80,000 (Item 5)
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     None  
 OWNED BY EACH REPORTING                :________________________ 
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     80,000 (Item 5)
                                        :________________________ 
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     None  
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      80,000 (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
     EXCLUDES CERTAIN SHARES*                         ____
                                                     /___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
      0.32%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      CO
_________________________________________________________________

              *SEE INSTRUCTIONS BEFORE FILLING OUT!
___________________________________

CUSIP No. 127695104                                        13D
_________________________________________________________________
(1)  NAMES OF REPORTING PERSONS 
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
      Gabelli Associates Limited     I.D. No. Foreign Corporation
_________________________________________________________________
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
      WC:  *
_________________________________________________________________
(5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
     REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          ____
                                                     /___/
_________________________________________________________________
(6)  CITIZENSHIP OR PLACE OF ORGANIZATION
      British Virgin Islands
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     8,000 (Item 5)
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     None  
 OWNED BY EACH REPORTING                :________________________ 
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     8,000 (Item 5)
                                        :________________________ 
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     None  
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      8,000 (Item 5)  
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
     EXCLUDES CERTAIN SHARES*                         ____
                                                     /___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
      0.03%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      CO
_________________________________________________________________

              *SEE INSTRUCTIONS BEFORE FILLING OUT!  
______________________________________

CUSIP No. 127695104                                        13D
_________________________________________________________________ 
(1)  NAMES OF REPORTING PERSONS 
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
      Gabelli Associates Fund            I.D. No. 13-3246203
_________________________________________________________________ 
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
      AF:  Funds of Gabelli Associates Fund 
_________________________________________________________________
(5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
     REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          ____
                                                     /___/
_________________________________________________________________
(6)  CITIZENSHIP OR PLACE OF ORGANIZATION
      New York 
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     150,000 (Item 5)
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     None  
 OWNED BY EACH REPORTING                :________________________
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     150,000 (Item 5)
                                        :________________________ 
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     None  
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      150,000 (Item 5)  
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
     EXCLUDES CERTAIN SHARES*                         ____
                                                     /___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
      0.60%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      CO
_________________________________________________________________

              *SEE INSTRUCTIONS BEFORE FILLING OUT!  
_____________________________________

CUSIP No. 127695104                                        13D
_________________________________________________________________
(1)  NAMES OF REPORTING PERSONS 
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
      ALCE Partners, L.P.                 I.D. No. 13-3782067
_________________________________________________________________
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
     AF:  Funds of ALCE Partners, L.P.                  
_________________________________________________________________
(5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
     REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          ____
                                                     /___/
_________________________________________________________________
(6)  CITIZENSHIP OR PLACE OF ORGANIZATION
      Delaware 
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     4,000 (Item 5)
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     None  
 OWNED BY EACH REPORTING                :________________________ 
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     4,000 (Item 5)
                                        :________________________ 
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     None  
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      4,000 (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
     EXCLUDES CERTAIN SHARES*                         ____
                                                     /___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
      0.02%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      CO
_________________________________________________________________

              *SEE INSTRUCTIONS BEFORE FILLING OUT!
____________________________________

CUSIP No. 127695104                                        13D
_________________________________________________________________
(1)  NAMES OF REPORTING PERSONS 
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
      GLI, Inc.                         I.D. No. 13-3256022
_________________________________________________________________
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
      AF:  Funds of Gabelli-Rosenthal & Partners, L.P.
_________________________________________________________________
(5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
     REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          ____
                                                     /  x /
_________________________________________________________________
(6)  CITIZENSHIP OR PLACE OF ORGANIZATION
      New York 
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     1,500 (Item 5) 
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     None  
 OWNED BY EACH REPORTING                :________________________ 
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     1,500 (Item 5)
                                        :________________________ 
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     None  
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      1,500 (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
     EXCLUDES CERTAIN SHARES*                         ____
                                                     /___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
      0.01%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      CO
_________________________________________________________________

              *SEE INSTRUCTIONS BEFORE FILLING OUT!  
______________________________________

CUSIP No. 127695104                                        13D
_________________________________________________________________
(1)  NAMES OF REPORTING PERSONS 
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
      Safety Railway Retirement Plan  I.D. No. 06-0544125
_________________________________________________________________
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
      WC
_________________________________________________________________
(5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
      REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)         ____
                                                     /___/
_________________________________________________________________
(6)  CITIZENSHIP OR PLACE OF ORGANIZATION
      Delaware 
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     1,500 (Item 5)
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     None  
 OWNED BY EACH REPORTING                :________________________ 
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     1,500 (Item 5)
                                        :________________________ 
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     None  
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      1,500 (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
     EXCLUDES CERTAIN SHARES*                         ____
                                                     /___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
      0.01%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      CO
_________________________________________________________________

              *SEE INSTRUCTIONS BEFORE FILLING OUT!
____________________________________

CUSIP No. 127695104                                        13D
_________________________________________________________________
(1)  NAMES OF REPORTING PERSONS 
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
      Lynch Corporation                      I.D. No. 38-1799862
_________________________________________________________________
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
      WC
_________________________________________________________________
(5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
      REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)         ____
                                                     /___/
_________________________________________________________________
(6)  CITIZENSHIP OR PLACE OF ORGANIZATION
      Indiana  
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     5,000 (Item 5)
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     None  
 OWNED BY EACH REPORTING                :________________________ 
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     5,000 (Item 5)
                                        :________________________ 
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     None  
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      5,000 (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
     EXCLUDES CERTAIN SHARES*                         ____
                                                     /___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
      0.02%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      CO
_________________________________________________________________

              *SEE INSTRUCTIONS BEFORE FILLING OUT!
___________________________________

CUSIP No. 127695104                                        13D
_________________________________________________________________
(1)  NAMES OF REPORTING PERSONS 
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
      Gabelli & Company, Inc.           I.D. No. 13-3000033
      Profit Sharing Plan
_________________________________________________________________
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
      WC
_________________________________________________________________
(5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
     REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)          ____
                                                     /___/
_________________________________________________________________
(6)  CITIZENSHIP OR PLACE OF ORGANIZATION
      New York 
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     15,000 (Item 5) 
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     None  
 OWNED BY EACH REPORTING                :________________________ 
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     15,000 (Item 5)
                                        :________________________ 
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     None  
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      15,000  (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
     EXCLUDES CERTAIN SHARES*                         ____
                                                     /___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
      0.06%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      EP
_________________________________________________________________
              *SEE INSTRUCTIONS BEFORE FILLING OUT!  
______________________________________

CUSIP No. 127695104                                        13D
_________________________________________________________________
(1)  NAMES OF REPORTING PERSONS 
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
      Western New Mexico Telephone Company   I.D. No. 75-1445100
_________________________________________________________________
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
      WC
_________________________________________________________________
(5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
      REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)         ____
                                                     /___/
_________________________________________________________________
(6)  CITIZENSHIP OR PLACE OF ORGANIZATION
      Indiana  
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     5,000 (Item 5)
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     None  
 OWNED BY EACH REPORTING                :________________________ 
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     5,000 (Item 5)
                                        :________________________ 
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     None  
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      5,000 (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
     EXCLUDES CERTAIN SHARES*                         ____
                                                     /___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
      0.02%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      CO
_________________________________________________________________

              *SEE INSTRUCTIONS BEFORE FILLING OUT!
____________________________________

CUSIP No. 127695104                                        13D
_________________________________________________________________
(1)  NAMES OF REPORTING PERSONS 
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
      Inter-Community Telephone Company      I.D. No. 45-0219515
_________________________________________________________________
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
      WC
_________________________________________________________________
(5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
      REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)         ____
                                                     /___/
_________________________________________________________________
(6)  CITIZENSHIP OR PLACE OF ORGANIZATION
      Indiana  
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     3,000 (Item 5)
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     None  
 OWNED BY EACH REPORTING                :________________________ 
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     3,000 (Item 5)
                                        :________________________ 
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     None  
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      3,000 (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
     EXCLUDES CERTAIN SHARES*                         ____
                                                     /___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
      0.01%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      CO
_________________________________________________________________

              *SEE INSTRUCTIONS BEFORE FILLING OUT!
____________________________________

CUSIP No. 127695104                                        13D
_________________________________________________________________
(1)  NAMES OF REPORTING PERSONS 
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
      Lynch Telephone Corporation  I.D. No. 06-1269386
_________________________________________________________________
(2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
                                                       ____
                                                  (a) /___/
                                                       ____
                                                  (b) /___/
_________________________________________________________________
(3)  SEC USE ONLY
_________________________________________________________________
(4)  SOURCE OF FUNDS*
      WC
_________________________________________________________________
(5)  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
      REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)         ____
                                                     /___/
_________________________________________________________________
(6)  CITIZENSHIP OR PLACE OF ORGANIZATION
      Delaware 
_________________________________________________________________ 
                                        : (7) SOLE VOTING POWER
                                        :     3,000 (Item 5)
                                        :________________________
                                        : (8) SHARED VOTING POWER
 NUMBER OF SHARES BENEFICIALLY          :     None  
 OWNED BY EACH REPORTING                :________________________ 
 PERSON WITH                            : (9) SOLE DISPOSITIVE 
                                        :     POWER
                                        :     3,000 (Item 5)
                                        :________________________ 
                                        :(10) SHARED DISPOSITIVE 
                                        :     POWER
                                        :     None  
_________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      3,000 (Item 5)
_________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
     EXCLUDES CERTAIN SHARES*                         ____
                                                     /___/
_________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
      0.01%
_________________________________________________________________
(14) TYPE OF REPORTING PERSON*
      CO
_________________________________________________________________

              *SEE INSTRUCTIONS BEFORE FILLING OUT!<PAGE>
Item 1.   Security and Issuer
          This Amendment No. 2 to Schedule 13D on Caesars World,
Inc., (the "Issuer"), is being filed on behalf of the undersigned
to amend the Schedule 13D, as amended (the "Schedule 13D") which
was originally filed on December 20, 1994.  Unless otherwise
indicated, all capitalized terms used herein but not defined
herein shall have the same meaning as set forth in the Schedule
13D.

Item 3.   Source and Amount of Funds or Other Consideration
          All Reporting Persons used an aggregate of approximate-
ly $14,283,316 to purchase its Securities.  GAMCO and GFI used
approximately $2,212,663 and $1,429,728, respectively, of funds
that were provided through the accounts of certain of their
investment advisory clients (and, in the case of some of such
accounts at GAMCO, may be through borrowings from client margin
accounts) in order to purchase the Securities for such clients. 
GPP used approximately $2,061,500 of the investment funds of the
partnership to purchase the Securities reported by it.  GLI used
approximately $99,750 of the investment funds of G & R to pur-
chase the Securities reported by it.  GIL and GAL used approxi-
mately $1,263,500 and $133,000, respectively, of working capital
to purchase the Securities reported by it.  Gabelli Associates
used approximately $2,061,500 of the investing funds of the
Partnership to purchase the Securities for its own account.  The
Plan used approximately $997,485 of funds from the Plan's assets
to purchase the Securities reported by it.  Lynch used approxi-
mately $332,500 of funds from working capital to purchase the
Securities reported by it.  Safety Railway used approximately
$99,750 of funds from working capital to purchase to purchase the
Securities reported by it.  Western New Mexico Telephone Company
used approximately $332,500 of funds to purchase the Securities
reported by it.  Inter-Community Telephone Corporation used
approximately $199,500 to purchase the Securities reported by it. 
Lynch Telephone Corporation used approximately $199,500 of funds
to purchase the Securities reported by it.
          Mario J. Gabelli used approximately $2,860,440 of
personal funds to purchase the Securities reported by him.  

Item 5.   Interest In Securities Of The Issuer
          (a)  The aggregate number and percentage of Securities
to which this Schedule 13D relates is 2,062,400 shares, repre-
senting 8.29% of the 24,890,596 shares outstanding in the Issue-
r's most recently filed Form 10-K dated October 4, 1994.  The
Reporting 
Persons beneficially own those Securities as follows:
                              Shares of           % of
                              Common              Class of
Name                          Stock               Common  
                                      
GFI:
  As Principal                  21,500                0.09%
  As Agent                     716,800                2.87%

GAMCO
  As Principal                        0               0.00%
  As Agent                      870,100               3.50%

GPP                            100,000                0.40%

Mario J. Gabelli                43,000                0.18%

GAF                            150,000                0.60%

GAL                              8,000                0.03%

GIL                             35,000                0.14%

GIL II                          80,000                0.32%

ALCE                             4,000                0.02%

G & R                            1,500                0.01%

Lynch                            5,000                0.02%

The Plan                        15,000                0.06%

Safety Railway                   1,500                0.01%

Lynch Telephone                  3,000                0.01%

Western New Mexico               5,000                0.02%

Inter-Community 
Telephone                        3,000                0.01%


          Mr. Gabelli is deemed to have beneficial ownership of the
Securities beneficially owned by each of the foregoing persons and
GFI is deemed to have beneficial ownership of the securities owned
beneficially by each of the foregoing persons other than Mr.
Gabelli. 
          (b) Each of the Reporting Persons and Covered Persons has
the sole power to vote or direct the vote and sole power to dispose
or to direct the disposition of the Securities reported for it,
either for its own benefit or for the benefit of its investment
clients or its partners, as the case may be, except that GAMCO
Investors, Inc. does not have authority to vote 30,000 of the
reported shares and except that GFI has sole dispositive and voting
power with respect to the 716,800 shares of the Issuer held by the
The Gabelli Asset Fund, The Gabelli Equity Trust Inc., The Gabelli
Growth Fund, The Gabelli Convertible Securities Fund, The Gabelli
Value Fund Inc., The Gabelli Small Cap Growth Fund, The Gabelli
Equity Income Fund, Gabelli Gold Fund, Inc., The Gabelli Global
Multimedia Trust Inc., The Gabelli ABC Fund, The Gabelli Global
Telecommunications Fund, The Gabelli Global Convertible Securities
Fund and/or The Gabelli Global Interactive Couch Potato Fund, so
long as the aggregate voting interest of all joint filers does not
exceed 25% of their total voting interest in the Issuer and in that
event, the Proxy Voting Committee of each Fund (other than The
Gabelli Growth Fund) shall respectively vote that Funds shares, and
except that, at any time, the Proxy Voting Committee of each such
Fund may take and exercise in its sole discretion the entire voting
power with respect to the shares held by such Fund under special
circumstances such as regulatory considerations, and except that
the power of Mr. Gabelli and GFI is indirect with respect to
Securities beneficially owned directly by other Reporting Persons. 
          (c) Information with respect to all transactions in the
Securities which were effected during the past sixty days by each
of the Reporting Persons and Covered Persons is set forth on
Schedule II annexed hereto and incorporated herein by reference.
          (d) The investment advisory and brokerage clients of GFI,
GAMCO, Gabelli & Company, the partners of the various partnerships
managed by GLI, Mr. Gabelli, and GSI (including GR&P, GPP, and
Gabelli Associates, to the extent of their economic interest there
in) and the shareholders of GIL which Mr. Gabelli manages and GR&P
which is managed by GSI have the sole right to receive and, subject
to the notice, withdrawal and/or termination provisions of such
advisors, brokerage and partnership arrangements, the sole power to
direct the receipt of dividends from, and the proceeds of sale of,
any of the Securities beneficially owned by such Reporting Persons. 
Except as noted, no such client or partner has an interest by
virtue of such relationship that relates to more than 5% of the
Securities.  Neither Mr. Gabelli nor GFI nor any of such other
Reporting Persons has an economic interest in any of the Securities
reported herein except those reported as being directly beneficial-
ly owned by GFI, Mr. Gabelli, Gabelli & Company, GSI, GIL, GIL II,
GAL, GPP, Lynch, Spinnaker Industries and the Plan, and except
those as to which GLI and Gabelli Associates have an interest
through their general partner account in the partnerships managed
by them.       
          (e)  Not applicable. <PAGE>
Signature      
               After reasonable inquiry and to the best of my knowledge and
               belief, I certify that the information 
set forth in this statement
               is true, complete and correct. 
Dated:    January 5, 1995

                                   MARIO J. GABELLI


                                  By:_____________________________
                                     J. Hamilton Crawford, Jr.   
                                     Attorney-in-Fact             


                                   GABELLI FUNDS, INC. 
                                

                                   By:_________________________
                                      J. Hamilton Crawford, Jr.
                                      Senior Vice President
                                      and General Counsel


                                   GAMCO INVESTORS, INC.  


                                   By:_________________________
                                      Douglas R. Jamieson  
                                      Chief Operating Officer
                                      and Executive Vice President


                                   GABELLI PERFORMANCE PARTNERSHIP
                                   

                                   By:_________________________
                                      Mario J. Gabelli, 
                                      General Partner
                                      by: J. Hamilton Crawford, Jr.
                                          Attorney-in-Fact


                                   GABELLI ASSOCIATES LIMITED


                                   By:__________________________
                                      by: Gabelli Securities, Inc.
                                          Investment Manager
                                          J. Hamilton Crawford, Jr.
                                          Senior Vice President
                                          and General Counsel



                                   GABELLI ASSOCIATES FUND


                                   By:______________________________
                                      by: Gabelli Securities, Inc.
                                          Investment Manager
                                          J. Hamilton Crawford, Jr.
                                          Senior Vice President
                                          and General Counsel



                                   GABELLI INTERNATIONAL LIMITED


                                   By:___________________________
                                      Mario J. Gabelli, Chairman
                                      and Investment Manager
                                      by: J. Hamilton Crawford, Jr.
                                          Attorney-in-Fact



                                   GABELLI INTERNATIONAL LIMITED II


                                   By:___________________________
                                      Mario J. Gabelli, Chairman
                                      and Investment Manager
                                      by: J. Hamilton Crawford, Jr.
                                          Attorney-in-Fact



                                   ALCE PARTNERS, L.P.


                                   By:______________________________
                                      Gabelli Securities, Inc.
                                      General Partner
                                      by: J. Hamilton Crawford, Jr.
                                          Senior Vice President 
                                          and General Counsel

               
                                   GLI, INC.


                                   By:______________________________
                                      Mario J. Gabelli
                                      Chairman
                                      by: J. Hamilton Crawford, Jr.
                                          Attorney-in-Fact


                                   LYNCH CORPORATION


                                   By:___________________________
                                      Joseph H. Epel, Treasurer
                                      by: J. Hamilton Crawford, Jr.
                                          Attorney-in-Fact


                                   GABELLI & COMPANY, INC.
                                   PROFIT SHARING PLAN


                                   By:_____________________________
                                      Douglas R. Jamieson
                                      Trustee


                                   SAFETY RAILWAY RETIREMENT PLAN


                                   By:____________________________
                                      Joseph H. Epel, Treasurer
                                      by: J. Hamilton Crawford, Jr.
                                          Attorney-in-Fact


                                   WESTERN NEW MEXICO


                                   By:______________________________
                                      Joseph H. Epel, Treasurer
                                      by: J. Hamilton Crawford, Jr.
                                          Attorney-in-Fact


                                   INTER-COMMUNITY TELEPHONE COMPANY


                                   By:______________________________
                                      Joseph H. Epel, Treasurer
                                      by: J. Hamilton Crawford, Jr.
                                          Attorney-in-Fact
               
                                   LYNCH TELEPHONE CORPORATION


                                   By:______________________________
                                      Robert E. Dolan
                                      by: J. Hamilton Crawford, Jr.
                                          Attorney-in-Fact


<PAGE>
                                                       Schedule I


              Information with Respect to Executive
            Officers and Directors of the Undersigned 

          Schedule I to Schedule 13D is amended, in pertinent
part, as follows:

          The following sets forth as to each of the executive
officers and directors of the undersigned: his name; his business
address; and his present principal occupation or employment and
the name, principal business and address of any corporation or
other organization in which such employment is conducted.  Unless
otherwise specified, the principal employer of each such in-
dividual is Gabelli Funds, Inc., Gabelli & Company, Inc., or
GAMCO Investors, Inc., the business address of each of which is
One Corporate Center, Rye, New York 10580, and each such
individual identified below is a citizen of the United States. 
To the knowledge of the undersigned, during the last five years,
no such person has been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors), and no
such person was a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction as a result of
which he was or is subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities law or finding
any violation with respect to such laws except as reported in
Item 2(d) of this Schedule 13D. 


Gabelli Funds, Inc. 

Directors: 

     Mario J. Gabelli


     Richard B. Black              Chairman of Raster Image
                                   Processing Systems; Chairman
                                   ECRM; Director of Archetype
                                   and Oak Technology; Director
                                   of The Morgan Group, Inc.;
                                   General Partner of KBA Part-  
                                   ners, Parker Plaza
                                   400 Kelby Street,
                                   Fort Lee, NJ 07029

     Charles C. Baum               Chairman, Director and Chief
                                   Executive Officer of The
                                   Morgan Group, Inc.;
                                   Secretary & Treasurer
                                   United Holdings              
                                   2545 Wilkens Avenue
                                   Baltimore, MD  21223

     Dr. Eamon M. Kelly            President
                                   Tulane University
                                   218 Gibson Hall
                                   6823 St. Charles Avenue
                                   New Orleans, LA  70118

Officers:

     Mario J. Gabelli              Chairman, Chief Executive
                                   Officer and Chief Investment
                                   Officer
     

     J. Hamilton Crawford, Jr.     Senior Vice President
                                   and General Counsel 

     Stephen G. Bondi              Vice President - Finance

     James E McKee                 Vice President, Co-General 
                                   Counsel and Assistant          
                                   Secretary

     Joseph J. Frazzitta           Assistant Secretary



GAMCO Investors, Inc.

Directors:
     Douglas R. Jamieson
     Joseph R. Rindler, Jr.
     Regina Pitaro
     Joseph J. Frazzitta
     F. William Scholz, II

Officers:
     
     Mario J. Gabelli              Chief Investment Officer

     Douglas R. Jamieson           Chief Operating Officer and
                                   Executive Vice President 

     Joseph J. Frazzitta           Vice President and Chief
                                   Financial Officer
  
     James E. McKee                Vice President 
                                   and General Counsel

     J. Hamilton Crawford, Jr.     Assistant Secretary    



Gabelli Securities, Inc.

Directors:

     Charles C. Baum               See above-Gabelli Funds, Inc.


     Joseph R. Rindler             Managing Director
                                   GAMCO Investors, Inc.
                                   One Corporate Center
                                   Rye, NY  10580

     David Perlmutter              Perlmutter & Associates
                                   200 Park Avenue, Suite 4515
                                   New York, N.Y.  10166

     Stephen G. Bondi              Acting Chief Operating Officer
                                   and Vice President

     Salvatore Muoio               Vice President-Research
                                   Gabelli & Company, Inc.
                                   One Corporate Center
                                   Rye, NY  10580

Advisors:

     Vincent J. Amabile
     Robert Blake

Officers:

     Stephen G. Bondi              Acting Chief Operating Officer
                                   and Vice President

     J. Hamilton Crawford, Jr.     Senior Vice President, 
                                   Assistant Secretary, and
                                   General Counsel

     Erwin I. Mevorah              Vice President - Finance 
                                                      


Gabelli & Company, Inc.

Directors:

     James G. Webster, III         Chairman 

     Charles C. Baum               See above-Gabelli Funds, Inc.

     Joseph J. Frazzitta           Vice President and
                                   Chief Financial Officer

Officers:

     James G. Webster, III         Chairman 

     Joseph J. Frazzitta           Vice President/Finance and
                                   Chief Financial Officer

     Stephen G. Bondi              Vice President 

     J. Hamilton Crawford, Jr.     Senior Vice President,
                                   Secretary and 
                                   General Counsel
     
     Walter K. Walsh               Operations and Compliance
                                   Officer



GLI, Inc.

Directors:

     Mario J. Gabelli              See above-Gabelli Funds, Inc.


Officers:

     Mario J. Gabelli              Chairman and Chief Investment
                                   Officer

     Stephen G. Bondi              Vice President

     J. Hamilton Crawford, Jr.     Assistant Secretary  




Gabelli Associates Limited

Directors:

     Mario J. Gabelli              See above-Gabelli Funds, Inc.

     MeesPierson  (Cayman)         British American Centre   
     Limited                       Dr. Roy's Drive- Phase 3
                                   Georgetown, Grand Cayman   
                                   Cayman Islands, British        
                                   WestIndies

     MeesPierson  (Cayman)         British American Centre   
     Limited                       Dr. Roy's Drive- Phase 3
                                   Georgetown, Grand Cayman   
                                   Cayman Islands, British             
                                   WestIndies
     
Officers:

     Mario J. Gabelli              Chief Investment Officer

     Kevin Bromley                 Vice President, Treasurer and
                                   Assistant Secretary

     Sandra Wight                  Secretary and Assistant Treasurer




Gabelli International Limited

Directors:

     Mario J. Gabelli              See above-Gabelli Funds, Inc.
   
     MeesPierson  (Cayman)         British American Centre   
     Limited                       Dr. Roy's Drive- Phase 3
                                   Georgetown, Grand Cayman   
                                   Cayman Islands, British West Indies


Officers:

     Kevin Bromley                 Vice President, Treasurer, and      
                                   Assistant Secretary                 
                                   MeesPierson (Cayman) Limited
                                   British American Centre  
                                   Dr. Roy's Drive- Phase 3   
                                   Georgetown, Grand Cayman    
                                   Cayman Islands, British West Indies

     Sandra Wight                  Secretary and Assistant Treasurer
                                   Assistant Secretary                 
                                   MeesPierson (Cayman) Limited
                                   British American Centre  
                                   Dr. Roy's Drive- Phase 3   
                                   Georgetown, Grand Cayman    
                                   Cayman Islands, British West Indies

Lynch Corporation
8 Sound Shore Drive
Greenwich, CT  06830

Directors:

     Paul J. Evanson               Chief Financial Officer 
                                   FPL Group, Inc.
                                   P.O Box 14000
                                   700 Universe Blvd.
                                   Juno Beach, Fl 33408

     Bradley J. Bell               Vice President & Treasurer
                                   Whirlpool Corp.
                                   2000 M. 63 North
                                   Administrative Center
                                   Benton Harbor, MI  49022

     Morris Berkowitz              Business Consultant
                                   163-43 Willets Point Blvd.
                                   Whitestone, NY 11357


     Richard J. Boyle              Chairman, The Boyle Group
                                   6110 Blue Circle Drive  
                                   Suite 250 
                                   Minnetonka, MN 55343
  

     Mario J. Gabelli              See above-Gabelli Funds, Inc.



     Paul Woolard                  Business Consultant
                                   116 East 68th Street
                                   New York, NY 10021

     E. Val Cerutti                Business Consultant          
                                   Cerutti Consultants 
                                   227 McLain Street
                                   Mount Kisco, NY   10549

Officers:

     Mario J. Gabelli              Chairman and Chief Executive   
                                   Officer

     Michael J. Small              Office of the President

     Joseph H. Epel                Treasurer

     Robert E. Dolan               Chief Financial Officer 

     Carmine Ceraolo               Assistant Controller

     Robert A. Hurwich             Vice President-Administration,
                                   Secretary and General Counsel

Spinnaker Industries, Inc.
One Galleria Tower
13355 Noel Road
Suite 1100
Dallas, TX  75240

Directors:

     Joseph P. Rhein               Chairman                
                                   241 McClenaghan Mill Road
                                   Wynnewood, PA 19096
                                   
     Richard J. Boyle              The Boyle Group, Inc.             
                                   6110 Blue Circle Drive
                                   Suite 250           
                                   Minnetonka, MN  55343
     Ned N. Fleming, III           Boyle, Fleming, 
                                   George & Co., Inc.            
                                   One Galleria Tower
                                   13355 Noel Road
                                   Suite 1100
                                   Dallas, TX  75240
Officers:

     Robert E. Dolan               Controller

     Joseph H. Epel                Treasurer 

     James W. Toman                Assistant Secretary 

     Ned N. Fleming, III           President

     Richard J. Boyle              Chairman and
                                   Chief Executive Officer

     Robert A. Hurwich             Secretary




Entoleter, Inc.
251 Welton Street
Hamden, CT  06517

Directors:

     Joseph P. Rhein               See above-Spinnaker

     William F. Bullis             See above-Spinnaker

Officers:

     James W. Toman                Chief Financial Officer

     Joseph H. Epel                Treasurer and Secretary

     Robert E. Dolan               Controller


Western New Mexico Telephone Company
314 Yankee Street
Silver City, NM  88062

Directors:

     Jack C. Keen                  Chairman

     Jack W. Keen                  President

     Dr. Brian E. Gordon           Vice President

     Mary Beth Baxter              Secretary & Treasurer

     Robert E. Dolan               See above-Lynch Corporation

     Joseph H. Epel                See above-Lynch Corporation

     Carmine Ceraolo               See above-Lynch Corporation


Officers:

     Jack C. Keen                  Chairman of the Board

     Jack W. Keen                  President

     Jack L. Bentley               Executive Vice President

     Dr. Brian E. Gordon           Vice President

     Charles M. Baxter             Sr. Vice President-Operations
     
     Mary Beth Baxter              Secretary & Treasurer

     Joseph H. Epel                Assistant Treasurer


Inter-Community Telephone Company
P.O. Box A
Nome, ND  58062

Directors:

     Mary J. Carroll               See above-Lynch Corporation

     Carmine P. Ceraolo            See above-Lynch Corporation
                                   
     Robert E. Dolan               See above-Lynch Corporation

     Joseph H. Epel                See above-Lynch Corporation

     Leone A. Nilsen               President

     Roger J. Nilsen               P.O. Box 146
                                   Hannaford, ND 58448

     Duane A. Plecity              Secretary

     Harry B. Snyder               P.O. Box 131
                                   Buffalo, ND  58011

     Robert Snyder                 200 Broadway South
                                   Buffalo, ND 58011

Officers:

     Leone A. Nilsen               President
     
     Robert Snyder                 Vice President 
     
     Duane A. Plecity              Secretary
     
     Harry B. Snyder               Treasurer

     Joseph H. Epel                Assistant Treasurer


Lynch Telephone Corporation
8 Sound Shore Drive
Greenwich, CT  06830

Directors:

     Robert E. Dolan               Controller

     Jack C. Keen                  Chairman

     Michael J. Small              Vice President


Officers:

     Jack C. Keen                  Chairman

     Jack W. Keen                  President

     Michael J. Small              Vice President

     Robert A. Hurwhich            Secretary

     Mary Beth Baxter              Treasurer and 
                                   Assistant Secretary

     Robert E. Dolan               Controller



     





                          SCHEDULE II                             
                  INFORMATION WITH RESPECT TO                     
        TRANSACTIONS EFFECTED DURING THE PAST SIXTY DAYS OR       
          SINCE THE MOST RECENT FILING ON SCHEDULE 13D (1)        
                                                                  
                                   SHARES 
                                   PURCHASED        AVERAGE       
                   DATE            SOLD(-)          PRICE(2)      
                                                                  
COMMON STOCK-CAESARS WORLD                                        
                                                                  
 WESTERN NEW MEXICO                                               
                                                                  
                1/03/95            5,000            66.5000       
                                                                  
 SPINNAKER INDUSTRIES                                             
                                                                  
                1/03/95            1,500            66.5000       
                                                                  
 GABELLI PROFIT SHARING PLAN                                      
                                                                  
                1/03/95           15,000            66.4990       
                                                                  
  MICHAEL GABELLI                                                 
                                                                  
                1/03/95            2,000            66.5300       
                                                                  
  MATTHEW GABELLI                                                 
                                                                  
                1/03/95            2,000            66.5300       
                                                                  
  MARC GABELLI                                                    
                                                                  
                1/03/95            2,000            66.5300       
                                                                  
  ELISA GABELLI                                                   
                                                                  
                1/03/95            2,000            66.5300       
                                                                  
  MARIO J. GABELLI                                                
                                                                  
                1/03/95           35,000            66.5200       
                                                                  
  LYNCH TELEPHONE CORP                                            
                                                                  
                1/03/95            3,000            66.5000       
                                                                  
  LYNCH CORPORATION

                1/03/95            5,000            66.5000       



                                                     Page 36 of 37 
 INTERCOMMUNITY TELEPHONE CORP                                    
                                                                  
                 1/03/95            3,000            66.5000      
                                                                  
 
 THE GABELLI PERFORMANCE PARTNERSHIP                              
                                                                  
                12/30/94           31,000            66.5000      
                                                                  
 GABELLI INTERNATIONAL LTD                                        
                                                                  
                 1/03/95            5,000            66.5000      
                                                                  
                12/30/94           14,000            66.5000      
                                                                  
 GABELLI FUNDS, INC.                                              
                                                                  
   GABELLI FUNDS INC.-PRINCIPAL A/C                               
                                                                  
                 1/03/95           21,500            66.4990      
                                                                  
  GAMCO INVESTORS, INC.                                           
                                                                  
                1/03/95            4,000            66.5000       
                                                                  
               12/28/94           14,300            66.3750       
                                                                  
               12/28/94           15,000            66.5000       
                                                                 
GABELLI ASSOCIATES LTD                                            
                                                                  
                 1/03/95            2,000            66.5000      
                                                                  
GABELLI ASSOCIATES FUND                                           
                                                                  
                 1/03/95           31,000            66.5000      
                                                                  
GABELLI ROSENTHAL & PARTNERS, L.P.                                
                                                                  
                 1/03/95            1,500            66.5000      


                                                                  
(1) UNLESS OTHERWISE INDICATED, ALL TRANSACTIONS WERE EFFECTED    
    ON THE NY STOCK EXCHANGE.                                     
(2) PRICE EXCLUDES COMMISSION.                                    
                                                                  

                                                     Page 37 of 37


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