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November 24, 2009

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CFO sells $1.75 million in stock

Friday, Sept. 7, 2001 | 10:42 a.m.

Scott LaPorta, chief financial officer of Park Place Entertainment Corp. of Las Vegas, has sold more than 40 percent of his stock holdings in four recent transactions, according to filings made with the Securities and Exchange Commission.

From Aug. 16 to Sept. 4, LaPorta sold a total of 165,000 shares for $1.75 million, the filings indicate. LaPorta sold 80,000 shares on Aug. 16, 45,000 shares on Aug. 21, 15,000 shares on Aug. 31 and 25,000 shares on Tuesday.

Though not indicated in the filings, the shares sold most likely came from the exercise of stock options. As of March 16, LaPorta owned 403,500 shares, but all but 1,000 of these shares were in the form of exercisable options.

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