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Article: CAESARS WORLD ANNOUNCES LETTER OF INTENT TO OPERATE PARADISE ISLAND CASINO IN BAHAMAS

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PR Newswire
Article date:
May 12, 1993
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LOS ANGELES, May 12 /PRNewswire/ -- Caesars World Inc. (NYSE: CAW) today announced it has signed a letter of intent with Fidelity Management and Research Co. for Caesars World or a Caesars World subsidiary to become the operator, under a management agreement, of the Paradise Island Resort and Casino and other assets in The Bahamas. 
Funds managed by Fidelity are the major Series Noteholders of Resorts International Inc.  Fidelity currently has an agreement in principle which calls for debtholders to ultimately assume ownership of Resorts International's assets in The Bahamas as part of a debt restructuring. 
The letter of intent between Caesars World and Fidelity, which ...

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