Park Place Will Present at Deutsche Bank Alex Brown High Yield Conference October 4

Business Wire, Oct 3, 2001

Business Editors

LAS VEGAS--(BUSINESS WIRE)--Oct. 3, 2001

Park Place Entertainment Corp. (NYSE:PPE) today reported that it will be presenting at the 10th Annual Deutsche Bank Alex Brown High Yield conference on October 4 live via Webcast at 10:45 a.m. PT.

The presentation will include comments concerning general company information, the third quarter earnings shortfall due to reduced business activity as a result of the September 11 terrorist attacks, as well as current trends in the marketplace following the terrorist attacks.

Interested individuals can access a live audio Webcast of the presentation for the 10th Annual Deutsche Bank Alex Brown High Yield conference and presentation materials at http://webevents.broadcast.com/db/hiyield0701. A replay of the presentation will be available within 24 hours of the live presentation and will be archived for one week.

Park Place Entertainment is the world's largest gaming company and owns, manages or has an interest in 28 gaming properties operating under the Bally's, Caesars, Paris, Flamingo, Grand and Hilton brand names with a total of approximately 2 million square feet of gaming space, 29,000 hotel rooms and approximately 58,000 employees worldwide.

Additional information on Park Place Entertainment can be accessed through the company's 24-hour investor relations service. Individuals may call toll-free 877/PPE-NYSE (877/773-6973) or visit www.parkplace.com to obtain the latest company news and stock price information, or to request information by e-mail, fax or postal mail delivery.

Note: This news release contains "forward-looking statements" within the meaning of federal securities law, including statements concerning anticipated future events, plans and expectations, completion of new construction, and allocation of capital. The forward-looking statements in this news release are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the statements herein. Additional information concerning potential factors that could affect the company's future financial results is included in the company's Annual Report on Form 10-K for the year ended Dec. 31, 2000, and on Form 10-Q for the quarters ended March 31, 2001, and June 30, 2001.