Employees: Park Place will bring stability

John Wilen

Tuesday, April 27, 1999 | 11:14 a.m.

Caesars Palace employees learned today the fabled Strip resort will have its fourth corporate parent in five years. Some workers hope the new owner, Park Place Entertainment, will bring some stability.

Tom Pilkington, vice president of entertainment and special events, believes Park Place is committed to entertainment and to marketing the Caesars brand.

"This is certainly something stable," he said. "I would think that it bodes well for us and our future."

George Vera, head of valet parking, said he hasn't seen many changes in his operation over the years despite the changes in ownership.

"We've always been pretty stable here. We go about business as usual, whoever's been in charge," Vera said.

Vera said workers know Park Place, owner of the Flamingo Hilton and Bally's across the street.

"The general feeling is they have experience in the gaming industry. I think people feel comfortable with them."

The gaming experience of Park Places impresses Jim Hydron, a Caesars security officer.

"It's a good move for Caesars Palace. We'll finally have a gamer back in charge of Caesars Palace," he said.

"The gaming mentality is different than a hotel mentality."

Robert Faranda, a sports book floor man, is looking forward to some corporate stability at Caesars.

"I think this will be it," he said.

But Faranda is worried that the Caesars sports book will become a satellite to Park Place's giant Las Vegas Hilton sports book.

"They usually make the race and sports books satellite books, so I don't know what's going to happen," he said.

Today's deal means Park Place is the fourth owner of the resort since 1994. It was owned by Caesars World Inc., which was acquired by ITT Corp., which itself was then acquired by Starwood Hotels & Resorts.