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Article: Park Place Bids $77 Million for Atlantic City, N.J., Casino.(Knight Ridder/Tribune Business News)

Article from:
Knight Ridder/Tribune Business News
Article date:
August 25, 2000
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Aug. 25--Park Place Entertainment, Inc., the world's largest gaming company, has joined the bidding for the bankrupt Claridge Casino Hotel in Atlantic City.

Park Place said it offered $77.08 million in cash for the Claridge. It was joined by Black Hawk Gaming and Development Co. of Colorado, which bid $78 million.

The bids were submitted during a bankruptcy hearing before U.S. Bankruptcy Court Judge Judith Wizmur in Camden and put the two companies in contention with billionaire corporate raider Carl Icahn, who only last month beat Park Place in the bankruptcy takeover of the Sands.

Gaming analyst Marvin Roffman of Roffman Miller Associates in ...

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