Thursday, April 18, 2002 | 11:09 a.m.
Park Place Entertainment Corp. of Las Vegas announced Wednesday it has completed the sale of its 20 percent stake in an Australian casino operator.
Park Place sold half of its equity stake in Jupiters Ltd. back to the company, and sold the remainder of its shares to a group of institutional investors. Jupiters owns two Australian casinos managed by Park Place. Park Place will continue to manage these casinos despite the Jupiters sale.
The company grossed $120 million from the sale.
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