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November 30, 2009

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Caesars executive sues over merger termination

Tuesday, May 9, 2000 | 10:08 a.m.

A former Caesars World Inc. executive sued the company, alleging it reneged on an agreement to pay her $324,260 in severance benefits after it was acquired by Park Place Entertainment Corp. of Las Vegas.

Park Place completed its $3 billion cash acquisition of Caesars World Inc. on Dec. 29 1999.

In a Clark County District Court suit, Betty Wilson, who was hired by Caesars as Vice President of Taxes in December 1995 and terminated on March 10, 2000, said she was given a special severance plan for salaried headquarters employees in November 1997.

The suit said the plan entitles her to be eligible for severance benefits "in the event of a termination after a change of control of Caesars World."

Wilson, who accused Caesars of "fraudulently (trying) to avoid its legal obligations," has requested a court order for an arbitration of the dispute.

A Park Place spokesman declined comment.

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