New year will bring new owners for Caesars Tahoe

Monday, Dec. 27, 1999 | 9:30 a.m.

Las Vegas-based Park Place Entertainment Corp.'s $3 billion purchase of Caesars World Inc. is expected to close any day. The purchase was approved by Nevada gambling regulators this fall.

"Yes, we'd love to renovate (the property) and yes we'd love to take it to another level," said Mel Thomas, executive vice president and general manager of Caesars Tahoe.

He said he envisions his resort becoming more like its luxurious sister property in Las Vegas: Caesars Palace. "We should be more similar to the Caesars brand and not less," he said.

Park Place owns and operates 17 gambling properties under the Hilton, Bally's and Grand casino names, plus the new Paris megaresort in Las Vegas.

The Caesars World purchase will give Park Place 29 gambling properties worldwide, the most of any operator.

Caesars Tahoe holds the No. 3 market-share position among Stateline's big four hotel-casinos.

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